Categories Earnings, Health Care

GW Pharmaceuticals’ stock climbs on Q1 results beat

Medical marijuana company GW Pharmaceuticals (NASDAQ: GWPH) beat market expectations on revenue and earnings for the first quarter of 2019, sending shares climbing over 6% in after-market hours on Monday.

Total revenue amounted to $39.2 million compared to $3 million in the year-ago period.

Net loss for the quarter was $50.1 million, or $0.14 per share, compared to $69.5 million, or $0.20 per share in the prior year.

Epidiolex had net sales of $33.5 million in the US during the first quarter. Over 7,600 patients have received Epidiolex prescriptions since launch and the pharmacy distribution network now includes over 145 distribution points. The company plans to launch Epidiolex in five major European markets by the end of this year.

GW Pharma achieved positive results for Epidiolex in the Phase 3 trial in Tuberous Sclerosis Complex and expects the sNDA submission to take place in the fourth quarter of 2019. The company expects to start a pivotal Phase 3 trial in Rett Syndrome in the second quarter of 2019. The company also commenced an open label study in Rett syndrome and seizures for CBDV.

GW Pharma closed a transaction to sell the Rare Pediatric Disease Priority Review Voucher for $105 million on April 5, 2019. The sale will be reflected in the company’s second quarter 2019 results.

The UK-based firm enjoys both the status of a ‘red hot’ cannabis stock, as well as the general acceptance for a pharma company. In the trailing 52 weeks, the stock has gained 28%.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Earnings calendar for the week of June 14

Latest economic data evoked mixed sentiment this week -- the rebound in economic activity has raised inflation concerns while jobless claims declined for the sixth week in a row. The

GameStop (GME) Earnings: Q1 loss narrows on 25% sales growth

Video game retailer GameStop Corp. (NYSE: GME), which has become the talk of the town after the unprecedented stock rally in recent weeks, reported a narrower loss for the first

Should you invest in Steel Dynamics (STLD) stock after 78% rally?

The steel industry managed to shrug off the pandemic blues earlier than expected as the recovery in industrial activity pushed up demand. With the vaccination drive and the government’s aggressive

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top