GW Pharmaceuticals’ (GWPH) Epidiolex Fast Tracked by FDA
Shares of GW Pharmaceuticals plc (GWPH) were up +5.15 or +7.60 percent to $72.93 per share in pre-market trading this morning, after the company announced its cannabis based drug Epidiolex, for the treatment of Dravet Syndrome, was granted Fast Track designation by the U.S. Food and Drug Administration. GW Pharmaceuticals stock closed at $67.78 per share, down -0.02 or -0.03 percent in Thursdayâ s regular trading session.
Wiltshire, UK based GW Pharmaceuticals plc is a biopharmaceutical company founded in 1998. The company is best known for its development and marketing of multiple sclerosis drug nabiximols, known under the brand name Sativex. Sativex is produced using a derivative of the cannabis plant and is the first cannabis based medication to gain full approval in any country. This morningâ s announcement of the FDAâ s Fast Track designation will speed up the development, review and approval of Epidiolex, which will address significant needs for children suffering from the disease. Dravet syndrome is a rare and extreme form of epilepsy, with seizures occurring in infants in their first and second years of life. Dravet syndrome is resistant to all current forms of medical therapy, with patients facing a higher incidence of sudden unexplained death in epilepsy or SUDEP. Children with the disease donâ t outgrow the condition, affecting their lives significantly. Justin Gover, GW Chief Executive Officer stated in the companyâ s press release, â
Published on Jun 6, 2014
By Jay Hawk