Diamonds and Dogs
Another drug stock shooting higher. GW Pharmaceuticals plc (GWPH) is jumping 14% to a new 52 week high after reporting positive Phase 3 clinical trial results for their drug to treat seizures associated with Lennox-Gastaut syndrome (LGS), a rare and severe form of childhood-onset epilepsy. In this trial, Epidiolex, when added to the patient's current treatment, achieved the primary endpoint for both dose levels with high statistical significance. This trial follows the announcement in June 2016 of positive results in the first pivotal Phase 3 trial of Epidiolex for the treatment of seizures associated with LGS, and the March 2016 announcement of positive results in the treatment of seizures associated with Dravet syndrome. Good year for GW Pharma's patients and shareholders.
Merger Monday not helping the CBOE. CBOE Holdings (CBOE) is down 4% after agreeing to acquire rival exchange operator Bats Global for US $3.2 billion. The transaction, which has already been approved by both companies' boards, reflects CBOE's ambition to expand in Europe and gain a bigger foothold in the fast-growing market for exchange-traded funds. The buyout represents a 70% gain for investors that participated in Bats' IPO just five months ago. Bats shares closed 20% higher last Friday after news of the acquisition circulated, while CBOE stock was up just over 1%.