+ 4.58
+ 1.51%
+ 5.52
+ 1.78%
+ 6.84
+ 1.82%
+ 0.27
+ 0.19%
+ 0.05
+ 0.03%

GW Pharma Reports Preliminary Q4 Revenue Of $108M, 'Exceptional' Launch Year For Epidiolex

January 13, 2020 11:54 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
GW Pharma Reports Preliminary Q4 Revenue Of $108M, 'Exceptional' Launch Year For Epidiolex

GW Pharmaceuticals plc (NASDAQ:GWPHissued preliminary unaudited fourth-quarter financial results Sunday that show total net product sales of around $108 million.

The company posted preliminary net sales of $309 million for the full year ended Dec. 3.

Net Epidiolex sales were projected to have hit about $104 million in the fourth quarter and $296 million in 2019 as a whole. 

GW Pharma said it plans to post official fourth-quarter and full-year 2019 financial results Feb. 25. 

Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.

“Our fourth quarter and full year results for 2019 reflect an exceptional launch year for Epidiolex. We are proud of the positive impact this medicine has already had on thousands of patients and believe that this past year provides a compelling foundation for continued success in 2020,” CEO Justin Gover said in a statement. 

“Our goal in 2020 is not only to continue to drive Epidiolex growth but also to leverage our world leadership in cannabinoid science to advance our pipeline. In particular, we see significant market opportunity for nabiximols in several indications in the U.S. and will be progressing multiple late stage clinical programs in 2020.”

GW Pharma shares were trading 6.19% higher at $114.19 at the time of publication Monday. 

Related Links:

Cramer Advises His Viewers On GW Pharma, Enphase And More

'Exceeded Our Expectations': First Latin American Study On CBD, Epilepsy Completed

Photo courtesy of GW Pharma.