Wiltshire, UK-based GW Pharmaceuticals plc GWPH is a biopharmaceutical company that focuses on developing and commercializing candidates based on its proprietary cannabinoid 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 is also developing various other cannabinoid-based treatments for indications like glioma, ulcerative colitis, schizophrenia and type II diabetes.
In this scenario, investor focus remains on pipeline updates since a number of pipeline related activities are lined up in 2016 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 trailing four quarters. Overall, the company has delivered a positive surprise of 25.74%.
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 narrower-than-expected loss in the second quarter of 2016. Our consensus called for a loss of $1.71 per share and the company reported a loss of $1.10 per share.
Revenues: Revenues fell short of expectations. GW Pharma posted revenues of $3.81 million, compared to our consensus estimate of $6.86 million.
Key Stats: Currently, the company is evaluating Sativex in a phase II study for the treatment of spasticity due to cerebral palsy in children. Data from the study is expected in the fourth quarter of 2016. In addition, the company expects full publication of data from the first pivotal phase III study on Epidiolex for the treatment of patients suffering from Dravet syndrome also in the fourth quarter of 2016. The company plans to request a pre-new drug application meeting with the FDA in mid-2016 to determine the regulatory path forward for Epidiolex.
Meanwhile, GW Pharma is also conducting a second phase III study on Epidiolex for Dravet syndrome. Moreover, the company is conducting a global pivotal development program on Epidiolex for the treatment of Lennox-Gastaut syndrome.
Check back later for our full write up on GWPH earnings report later!
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