GW Pharmaceuticals (GWP) has provided a much needed ray of sunshine to an otherwise pretty gloomy market. The biotech company has announced its second successfully completed Phase III clinical trial for its cannabinoid drug Epidiolex. In this trial the treatment has been proven to significantly reduce the number of seizures in children with Lennox-Gastaut syndrome, a severe form of childhood epilepsy.
The share price rose 12 per cent following the announcement - impressive considering the current markets, but not quite the 140 per cent rise enjoyed last time the group announced positive trial results in March. GW Pharma can now go ahead with a drug application for Epidiolex in both Lennox Gastaut syndrome and Dravet syndrome, and is expected to file this new drug application with the US Food and Drug Administration by mid-2017.