GW Pharmaceuticals (NASDAQ: GWPH) is slated to report third quarter 2019 earnings results on Tuesday, November 5, after the market closes. Analysts expect the company to report a loss of $0.85 per share on revenue of $85.3 million.
The company’s results are expected to benefit from strong sales and higher prescriptions of Epidiolex. Last quarter, Epidiolex sales totaled $68.4 million. In its second quarter report, the company said over 12,000 patients received Epidiolex prescriptions since launch.
Last month, GW received European Commission approval for EPIDYOLEX for the treatment of seizures. The company plans to launch Epidyolex in France, Germany and the UK in the fourth quarter of 2019. GW plans to launch in Italy and Spain as well but these are dependent on pricing and reimbursement.
GW is also looking to use Epidiolex in the treatment of Tuberous Sclerosis Complex (TSC), which is a rare genetic condition that causes the growth of tumors in different organs of the body. The company sees a huge unmet need in the area of TSC treatment.
Also read: GW Pharmaceuticals Q2 2019 Earnings Call Transcript
ADVERTISEMENT
Another important product is Sativex which is used in the treatment of multiple sclerosis. This product has been approved in over 25 countries outside the US and has completed three positive Phase 3 trials in Europe. The company believes the product has the potential for the treatment of multiple indications.
In the second quarter of 2019, GW Pharma beat revenue expectations but missed earnings estimates. Revenue totaled $72 million while EPS was $0.21.
GW’s shares have gained 38% so far this year. The stock has a strong Buy rating and the average price target is $216.56.