GW Pharma (GWPH) Tops Q3 EPS by 80c, Revenues Beat

GW Pharma (NASDAQ: GWPH) reported Q3 EPS of ($0.03), $0.80 better than the analyst estimate of ($0.83). Revenue for the quarter came in at $137.1 million versus the consensus estimate of $127.37 million.

FINANCIAL RESULTS

• Total revenue for the quarter ended September 30, 2020 was $137.1 million compared to $91.0 million for the quarter ended September 30, 2019
• Total revenue for the first nine months of 2020 of $378.6 million compared to $202.3 million in the prior year period
• Net loss for the quarter ended September 30, 2020 was $12.2 million compared to net loss of $13.8 million for the quarter ended September 30, 2019
• Cash and cash equivalents at September 30, 2020 were $480.3 million

“We are pleased to report strong revenue growth in the 3rd quarter despite the challenges presented by COVID-19. Epidiolex meets a serious unmet need within the field of epilepsy and we expect the product to demonstrate continued strong growth in the months and years ahead. The recent expanded indication for the treatment of seizures associated with TSC has been very well received by patients, clinicians and payers,” stated Justin Gover, GW’s Chief Executive Officer. “We have also now commenced the pivotal Phase 3 program for nabiximols in the treatment of multiple sclerosis spasticity, which provides multiple opportunities for an NDA submission, including as early as next year. Beyond nabiximols, we are advancing several clinical-stage pipeline candidates, including the recent start of a Phase 2 trial in schizophrenia.”

For earnings history and earnings-related data on GW Pharma (GWPH) click here.

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