Boston, MA 03/06/2014 (wallstreetpr) – GW Pharmaceuticals PLC – ADR (NASDAQ:GWPH) was up and running in Wednesday trading session moving up by roughly 8% at the back of 724, 311 shares exchanging hands. This continues the recent uptrend that the company has been registering in the recent past with the stock having surged by 55% over a one month time frame.
GW Pharmaceuticals receives approval for Orphan drug designation
The positive growing pattern could continue as the company recently announced that the FDA had granted permission for orphan drug designation for Epidiolex to be used in the treatment of Lennox-Gastaut syndrome, which is a rare condition of childhood onset epilepsy.
GW Pharmaceuticals PLC – ADR (NASDAQ:GWPH) plans to carry out a full clinical trial program for Epidiolex to see if it is viable for the treatment of LGS and Dravet syndromes. The pharmaceutical company in partnership with a leading pediatric epilepsy specialist in the US plans to begin the trials as early as the second quarter of the current fiscal year. The success of the trial will lead to a phase 3 pivotal trial for both Dravet and LGS conditions
LGS is an onset epilepsy condition in which patients are normally characterized with stiffening of the body, deviation of the eyes as well as dilation of the pupils. Children with this condition will most of the time suffer from impaired intellectual functioning as well as delayed development of the entire body. The main cause of the condition is brain malfunctions which may be caused by severe head injuries or infection to the central nervous system.
GW Pharmaceuticals PLC – ADR (NASDAQ:GWPH) management team is optimistic that the FDA will grant permission for the usage of Epidiolex in the US which they believe has the potential to meet to meet needs of children suffering from severe seizures.
GW Pharmaceuticals PLC – ADR (NASDAQ:GWPH) was up and running in Wednesday trading session with its stock moving by highs of 4.48% to close the day at high margins of $74.19.
