Over the past week, a few biotech companies made impressive runs. These moves were the result of clinical trial results, U.S. Food and Drug Administration (FDA) decisions and more. The companies 24/7 Wall St. has picked stood out from the rest with positive news guiding them last week. We have included information about each company, as well as recent trading activity and the consensus price target.
On Monday morning, GW Pharmaceuticals PLC (NASDAQ: GWPH) led the bulls out of the gate on news of positive late-stage study results. The company announced the positive results of the first pivotal Phase 3 study of its investigational medicine Epidiolex (cannabidiol) for the treatment of Dravet syndrome.
In this study, Epidiolex achieved the primary endpoint of a significant reduction in convulsive seizures assessed over the entire treatment period compared with the placebo. Epidiolex has both Orphan Drug Designation and Fast Track Designation from the FDA