GWPH - Why GW Pharmaceuticals Crashed 17% on Friday
Investors were not happy with the Q2 fiscal 2020 results published by GW Pharmaceuticals (NASDAQ: GWPH), a company that develops and markets cannabidiol (CBD)-based drugs and is therefore considered a marijuana stock. Those results, published after market close on Thursday, brought up several concerns about the company's operations, and helped drive the stock down by over 17% the following day.
For the quarter, GW Pharmaceuticals booked total revenue of $121.3 million, nearly all of it derived from sales of Epidiolex, a treatment for seizures in patients suffering from three relatively rare disorders. That top-line figure was 68% higher on a year-over-year basis.
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