EDISON EQUITY RESEARCH: ALEXZA PHARMACEUTICALS - EXTENDING PIPELINE WITH AZ-007

GW has initiated its first Phase III pivotal study for Epidiolex in Dravet syndrome, a highly debilitating and treatment refractory form of childhood epilepsy. This is the first of four planned Phase III trials with Epidiolex (one more in Dravet, two in Lennox-Gastaut syndrome), all due to begin in Q215. Epidiolex is a major valuation driver, so top-line data by end-2015 from the first Phase III now underway is a significant catalyst. We also look forward to further physician-led data to be presented at AAN in mid-April to highlight Epidiolex’s potential across a wide range of childhood epilepsies.

GW Pharmaceuticals is a UK-based specialty pharma company focused on cannabinoids. Sativex is marketed in various European countries for multiple sclerosis spasticity. Lead pipeline candidate is Epidiolex for refractory childhood epilepsy, now undergoing Phase III studies.

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