Wiltshire, UK-based GW Pharmaceuticals plc (NASDAQ:GWPH) is a biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics from its proprietary cannabinoid product platform across a broad range of disease areas. The company’s key growth driver, Sativex, is approved outside the U.S. for the treatment of spasticity associated with multiple sclerosis.
GW Pharma’s lead cannabinoid candidate is Epidiolex, a liquid formulation of pure plant-derived cannabidiol, which is in phase III development for several indications including Dravet syndrome, Lennox-Gastaut syndrome (LGS) and tuberous sclerosis complex. Moreover, the company has selected infantile spasms as the fourth target indication for the development of Epidiolex. The company retains global commercial rights to Epidiolex.
GW Pharma is also developing various other cannabinoid-based treatments for indications like glioma, neonatal hypoxic-ischemic encephalopathy, schizophrenia and type II diabetes.
In this scenario, investor focus remains on pipeline updates apart from the usual top-and bottom-line numbers.
GW Pharma’s track record has been pretty good with the company reporting narrower-than-expected losses in three of the last four reported quarters. Overall, the company has delivered a positive surprise of 21.45%.
Currently, GW Pharma has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GW Pharma reported a narrower-than-expected loss in the third quarter of fiscal 2016. Our consensus called for a loss of $1.73 per share and the company reported a loss of 73 cents.
Revenues: However, revenues fell short of expectations. GW Pharma posted revenues of $3.1 million, compared to our consensus estimate of $3.4 million.
Key Stats: GW Pharma expects to seek FDA approval for Epidiolex for both Dravet syndrome and LGS indications in the first half of fiscal 2017.
Meanwhile, the company expects to initiate a two-part pivotal phase III study on Epidiolex for the treatment of patients with infantile spasms in the fourth quarter of fiscal 2016.
Check back later for our full write up on GWPH earnings report later!
GW PHARMA-ADR (GWPH): Free Stock Analysis Report
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