Why GW Pharmaceuticals Stock Is Up Today
Shares of GW Pharmaceuticals (NASDAQ: GWPH) are up by 4.8% as of 3:18 p.m. EDT on Monday, after rising by as much as 5.5% earlier in the day. The catalyst for these nice gains is the fact that the U.S. Food and Drug Administration (FDA) approved GW Pharma's Epidiolex for the treatment of seizures associated with tuberous sclerosis complex (TSC).
Back in June of 2018, Epidiolex was approved for the treatment of seizures associated with Lennox-Gastaut syndrome (LGS) and Dravet syndrome, thus becoming the first cannabis-derived drug to be approved by the FDA. And although Epidiolex had a successful first year (or so) on the market, the drug's quarter-over-quarter sales growth has been slowing noticeably. Thanks to this new indication, Epidiolex's sales growth will likely increase in the coming quarters.
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Source Fool.com
