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

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

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