GWPH - GW Pharma Reports Q4 Earnings Beats Revenue Target
GW Pharmaceuticals (NASDAQ: GWPH) announced its fourth quarter and full year financial results Tuesday afternoon. Although the company ended up missing the earnings target set by Wall Street, GW Pharma did manage to handily beat analysts' revenue expectations for the company.
Fourth quarter revenue came in at $109.1 million, a drastic increase from the $6.6 million reported a year ago. The vast majority of this figure came from sales of its CBD-derived drug, Epidiolex, which is used to treat two rare types of epilepsy in children known as Lennox-Gastaut syndrome and Dravet syndrome. The pharmaceutical company said that it sold $104.5 million worth of Epidiolex in the fourth quarter.
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