GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Application Serial Number 13/075,873, a patent application which covers the use of cannabidivarin (CBDV) for treating epilepsy.
The subject patent claims cover CBDV, a non-psychoactive cannabinoid extracted from the cannabis plant, for use in the treatment of patients with epilepsy and specifically for the control of generalised or temporal lobe seizures. This patent covers CBDV alone or in combination with standard anti-epileptic drugs. The issued patent from this application will provide an exclusivity period until 30 March 2031.
“This patent is important as we believe that CBDV has the potential to become an important new treatment option in the field of epilepsy,” stated Justin Gover, GW’s Chief Executive Officer. “Whilst the primary focus of GW’s epilepsy research program remains on Epidiolex in pediatric epilepsy, we believe that CBDV may offer an additional treatment advance in this therapeutic area in the medium and longer term.”
In 2014, GW completed a Phase 1 clinical trial of its CBDV product candidate, known as GWP42006, and expects to commence a Phase 2 study in adult patients with epilepsy in the second quarter of 2015.
In addition to CBDV, GW continues to advance its product candidate Epidiolex®, a liquid formulation of pure cannabidiol (CBD). GW recently commenced two Phase 3 clinical trials of Epidiolex in Dravet syndrome and expects to commence two Phase 3 clinical trials in Lennox-Gastaut syndrome in the second quarter of 2015. GW also recently announced its intent to commence clinical development of Epidiolex in an additional pediatric epilepsy indication, Tuberous Sclerosis Complex (TSC), and expects to commence Phase 3 clinical development in TSC later this year.
1: Hill et al, British Journal of Pharmacology, September 2012 (Original Source)
Shares of GW closed last Friday at $121 . GWPH has a 1-year high of $122.82 and a 1-year low of $58.16. The stock’s 50-day moving average is $97.02 and its 200-day moving average is $80.16.
On the ratings front, GW has been the subject of a number of recent research reports. In a report issued on April 22, Piper Jaffray analyst Joshua Schimmer reiterated a Buy rating on GWPH, with a price target of $147, which represents a potential upside of 21.5% from where the stock is currently trading. Separately, on April 14, Leerink Swann’s Joseph Schwartz reiterated a Buy rating on the stock and has a price target of $120.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joshua Schimmer and Joseph Schwartz have a total average return of 17.3% and 33.1% respectively. Schimmer has a success rate of 66.0% and is ranked #160 out of 3581 analysts, while Schwartz has a success rate of 67.1% and is ranked #46.
GW Pharmaceuticals PLC is engaged in the research, development and commercialisation of cannabinoid prescription medicines to meet patient needs.