GWPH - GW Pharmaceuticals Drops After Hours Despite 72% Growth of Marijuana-Derived Epidiolex
Shares of GW Pharmaceuticals (NASDAQ: GWPH) are down 9.4% at 5:56 p.m. EDT on Thursday after the drugmaker released second-quarter results that didn't live up to expectations.
On the surface, the sales jump for Epidiolex, which treats childhood epilepsy syndromes, looks great. Who's going to complain about a 72% year-over-year increase in sales to $117.7 million?
But a look at the previous quarter highlights how growth has ground to a halt -- for now at least. First-quarter sales of the marijuana-derived drug were $116.1 million, just slightly lower than the recently completed quarter.