Leerink Partners analyst Paul Matteis offered some initial thoughts on GW Pharma (NASDAQ: GWPH) after the company announced positive top-line results for Epidiolex in Lennox Gastaut Syndrome (LGS).

Matteis commented, "The data show a 22% seizure reduction relative to placebo, suggesting that Epidiolex's clinical profile in LGS appears similar to that in Dravet syndrome. Similar to the Dravet readout, only primary endpoint data were provided; however GW notes that a "series of sensitivity analyses" and "results from secondary endpoints" reinforced the overall effectiveness, suggesting that Epidiolex also showed a benefit on other key measures such as responder analysis (primary measure for EMA). GW will host a conference call this morning at 8am where we seek additional granularity."

The firm maintained an Outperform rating and price target of $130 on GWPH.

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Shares of GW Pharma closed at $83.31 yesterday.