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Tuesday, August 6, 2019

=GW Pharma (GWPH) reported earnings on Tue 6 Aug 2019 (a/h)

GW Pharma beats by $0.18, beats on revs 

  • Reports Q3 (Jun) earnings of $0.21 per share, $0.18 better thanthe S&P Capital IQ Consensus of $0.03; revenues rose 2096.3% year/year to $72.04 mln vs the $37.28 mln S&P Capital IQ Consensus.
    • Over 12,000 patients have received Epidiolex prescriptions since launch
    • Over 2,500 physicians have generated dispensed prescriptions since launch
    • Pharmacy distribution network delivering median time to fill a first prescription in approximately 2 weeks
    • Vast majority of patients who have received Epdiolex remain on therapy
    • Transition of 900 patients in expanded access program and open label extension to commercial product complete
  • "We are pleased to report a strong second quarter of sales of Epidiolex in the US, reflecting high demand by US patients, increased prescribing by healthcare providers, and ongoing progress in payor coverage determinations. With the recent positive Phase 3 trial in Tuberous Sclerosis Complex, we expect to submit an sNDA by the end of 2019 with the goal of expanding the Epidiolex label and market opportunity to include both children and adult patients with TSC, a highly treatment-resistant condition," stated Justin Gover, GW's Chief Executive Officer. "In Europe, we are pleased to have recently received the positive opinion from the CHMP which clears the way for an expected approval in October. Our European commercial organization is in place and will be ready to launch in the first European markets upon approval, making this important new treatment option available to deserving European patients."
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