Business Corpus: GW Pharma Spikes After Launching Cannabis-Based Seizure DrugGW Pharmaceuticals crossed a long-awaited finish line Thursday after its cannabis-based seizure treatment became available via prescription — driving GW stock to pop more than 6%. The post GW Pharma Spikes After Launching Cannabis-Based Seizure Drug appeared first on Investor's Business Daily.

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GW Pharmaceuticals (GWPH) crossed a long-awaited finish line Thursday after its cannabis-based seizure treatment became available via prescription. GW stock popped on the news.

On the stock market today, GW stock jumped 7.1%, to 147.25. The spike for GW stock also helped another biotech working on seizure treatments to rise. Zogenix (ZGNX) stock rose 5.9%,to 44.21.

The cannabis-based seizure treatment from GW is called Epidiolex. Epidiolex gained approval in the U.S. in June to treat Dravet syndrome and Lennox-Gastaut syndrome, two forms of epilepsy that appear in childhood.

"We are delighted to announce that Epidiolex is now available by physician prescription as a new treatment option for patients with LGS and Dravet syndrome, the most difficult-to-treat forms of childhood-onset epilepsy," Chief Executive Justin Gover said in a prepared statement.

Historically, patients with these syndromes have not responded well to other seizure treatments. For that reason, Gover noted, "There has been a dire need for new therapies that aim to reduce the frequency and impact of seizures."

Cannabis-Based Seizure Treatment Available

Epidiolex comes directly from the cannabis plant. GW's medicine is the first cannabis-based drug to get approval in the U.S. Before that, an FDA panel unanimously recommended the full administration approve the seizure treatment, saying the benefits outweigh the risks.

But then GW had another hurdle to clear before it could market the seizure treatment. In September, the Drug Enforcement Administration reclassified Epidiolex as a Schedule 5 drug, from Schedule 1. At that point, GW said it expected to launch Epidiolex within six weeks.

The DEA considers Schedule 1 drugs to have no accepted medical use and a high potential for abuse. Marijuana and cannabis are still Schedule 1 drugs. The U.S. considers Schedule 5 drugs to have a lower potential for abuse.

GW now has a patient support program called Epidiolex Engage. The program aims to help patients taking the seizure treatment. The program offers patient/caregiver education and resources to help cut out-of-pocket costs. Some patients could be eligible to receive Epidiolex for free.

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The post GW Pharma Spikes After Launching Cannabis-Based Seizure Drug appeared first on Investor's Business Daily.