Marijuana continues to gain popularity among physicians, patients, and investors alike. Medical marijuana is used as a treatment for numerous illnesses including epilepsy. Although it’s effectiveness has not been approved by the Food and Drug Administration (FDA), it looks like it is on the horizon.
Based on the updated trial results reported for Epidiolex, a cannabidiol epilepsy medicine, a drug that improves the quality of life for patients with rare forms of epilepsy solely and treatment results may improve with long-term usage. This drove shares of this marijuana stock, GW Pharmaceuticals (GWPH) up 15.3% during the month of November. (GWPH) revealed that Epidiolex reduced the rate of monthly seizures by nearly 40 percent and filed Epidiolex for FDA approval in Dravet syndrome and Lennox-Gastaut syndrome, two rare forms of child-onset epilepsy.
During November, the company increased the probability of an FDA approval by revealing additional trial results indicating that 35 percent of patients with Lennox-Gastaut syndrome responded to Epidiolex monotherapy while only 13 percent of patients responded to a placebo. Results from Epidiolex’s long-term extension study also revealed positive results regarding patient’s response to the drug. In patients with Dravet syndrome, Epidiolex decreased total monthly seizures by 5 percent to 59 percent and patients with Lennox-Gastaut syndrome it decreased monthly seizures by 62 percent to 70 percent.
Dravet syndrome is extremely rare, yet about 30,000 patients have Lennox-Gastaut syndrome in the United States alone. An approval of Epidiolex, for the rare forms of epilepsy, is crucial to improving (GWPH) financials. Epidiolex’s potential price tag is unknown, but based on prices of epilepsy drugs, sales have to potential to generate revenues of nine figures. Trials evaluating the drugs treatment in other epilepsy indications would increase revenue for the company as well.
FDA approval is not the last step prior to being able to retail the drug, (GWPH) will have to wait for Drug Enforcement Agency (DEA) scheduling as well. If all goes as planned for the company, Epidiolex will be the first FDA-approved marijuana drug for epilepsy treatment.
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