GW Pharma Posts Narrower-than-Expected Loss in Q1; Sales Beat
Wiltshire, UK-based GW Pharmaceuticals plc 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 due to multiple sclerosis.
GW Pharma has made significant progress with its lead cannabinoid pipeline candidate, Epidiolex. Apart from Epidiolex, GW Pharma has a deep pipeline of additional cannabinoid-based candidates targeting indications like autism spectrum disorders, glioma, 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 has an impressive track record so far. In fact, in the four trailing quarters, the company has surpassed estimates every time, with an average positive surprise of 42.03%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GW Pharma reported narrower-than-expected loss in the first quarter of fiscal 2017. Our consensus called for a loss of $1.35 per share and the company reported a loss of 77 cents.
Revenues: Revenues also surpassed expectations. GW Pharma posted revenues of $2.54 million, compared to our consensus estimate of $2 million.
Key Stats: GW Pharma announced positive phase II placebo-controlled data in recurrent glioblastoma multiforme for cannabinoid.
GW Pharma expects to file for an FDA approval of Epidiolex for both Dravet syndrome and LGS in the mid 2017. Moreover, the company plans to seek EU approval for Epidiolex in the second half of fiscal 2017. The company has already started pre-launch commercialization activities for Epidiolex in the U.S. and Europe.
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