GW soars 51% on positive data from 3rd Ph III Sativex study; EU submission set for 2nd qtr

GW Pharmaceutical jumped 51% on March 11, after the UK drugmaker reported strong data on its cannabis-based mouth spray Sativex in  multiple sclerosis spasticity.

This is the third successful study of the drug in this indication in  the past six months. As a result, GW says it will submit a European  marketing authorization for the agent by the second quarter. Analysts  believe Sativex could go on sale as early as the fourth quarter.

This Phase III study used an enriched design whereby 573 patients  initially received Sativex for four weeks in a single-blind manner,  following which responders were randomized to continue on the drug or  switch to placebo for a further 12 weeks in a double-blinded phase of  the trial.