GW Pharmaceuticals Falls 7% Following Disappointing Sativex Trial

Shares of GW Pharmaceuticals PLC (ADR) GWPH fell in Thursday’s premarket following disappointing results from its Sativex drug trial.

In this first trial, Sativex (as adjunctive treatment to optimized chronic opioid therapy) did not meet the primary endpoint of demonstrating a statistically significant difference from placebo.

The company reported the top-line results from the first of three Phase 3 trials for the investigational drug in the treatment of pain in patients with advanced cancer who experience inadequate analgesia during optimized chronic opioid therapy.

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"Although we missed the primary endpoint in this trial, based upon the positive data seen in the Phase 2 program, we remain confident in the ability for Sativex to relieve cancer pain in this patient population," stated Justin Gover, GW's Chief Executive Officer. "We have two additional pivotal Phase 3 trials ongoing which, if positive, would still allow us to submit a New Drug Application with the US FDA. We look forward to results from these two further studies later this year."

GW Pharmaceuticals recently traded at $67.51 in the premarket, down 5 percent.