GWPH - GW Pharmaceuticals' Preliminary Q4 Revenue of $108 Million Beats Expectations
GW Pharmaceuticals (NASDAQ: GWPH) released its preliminary fourth-quarter results for 2019 on Sunday. Sales for the quarter totaled $108 million, with $104 million of that coming from the company's popular cannabidiol (CBD)-based drug, Epidiolex. That was well above the $102.4 million that analysts were expecting for Q4. For the entire year, the company reported revenue of $309 million, and Epidiolex again made up the vast majority of that with net product sales totaling $296 million during the drug's first full year on the market. In 2018, GW reported just $13 million in revenue.
However, GW continues to try and push revenue growth for Epidiolex as it looks to ensure that patients have adequate access to the drug in the U.S. while it works with both government and commercial payors.
GW also noted that it had $536 million in cash and cash equivalents on hand as of Dec. 31, 2019. That's down from the $555 million that the company had as of Sep. 30, 2019.