Why This Marijuana Stock Soared 60.9% in 2016
What happened
Following a string of successful trials of its anti-epileptic Epidiolex, shares in marijuana medicine maker GW Pharmaceuticals plc (NASDAQ: GWPH) surged 60.9% higher in 2016, according to S&P Global Market Intelligence .
So what
Marijuana advocates have been cheering the surging adoption of medical marijuana laws; however, despite growing demand for medical marijuana at dispensaries, there has been limited scientific proof of marijuana's benefit, and that's crimped its adoption.
That could be changing now that GW Pharma has proved that its Epidiolex reduces monthly seizure rates in patients diagnosed with rare, and historically tough-to-treat, forms of epilepsy.
In 2016, the company rolled out results from three separate studies that show that Epidiolex can lower the number of monthly seizures in Dravet syndrome and Lennox-Gastaut syndrome patients by about 40%.
Epidiolex, a purified formulation of the marijuana chemical cannabinoid cannabidiol, or CBD, could be on its way...
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