GW Pharma (GWPH) PT Raised to $182 at Cantor Fitzgerald Following Successful Second LGS Trial
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Cantor Fitzgerald analyst Elemer Piros raised his price target on Buy-rated GW Pharma (NASDAQ: GWPH) to $182.00 (from $165.00) after the company reported a second successful pivotal trial in Lennox-Gastaut syndromes (LGS).
Piros commented, "The second LGS trial was in most respects a carbon copy of the results obtained in the first one. The drug worked in a highly refractory patient population on top of additional drugs, beating placebo by a wide margin. At study entry, patients have already failed seven other drugs and experienced a drop seizure frequency of 85/month. During the trial patients (n=225) were taking, on average, three additional drugs plus two doses of Epidiolex or placebo. Fourteen weeks after starting treatment, seizure frequency was reduced by 17% in the placebo group vs. by 37% (p=0.0016) in the 10mg/kg arm and by 42% (p=0.0047) for those who took the 20mg/kg dose. As a reminder, the seizure reduction rate was 44% (20mg/kg) in the previous Phase 3 trial."
Shares of GW Pharma closed at $107.56 yesterday.
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