GW Pharmaceuticals boosts revenue and cuts losses
Nasdaq-quoted Cambridge life science company GW Pharmaceuticals increased revenue 51 per cent to $137.1 million in Q3 2020.
CEO Justin Gover said the lead product Epidiolex met a serious unmet need within the field of epilepsy and GW expects the product to demonstrate continued strong growth in the months and years ahead.
Gover said: “The recent expanded indication for the treatment of seizures associated with TSC has been very well received by patients, clinicians and payers. We have also now commenced the pivotal Phase 3 program for nabiximols in the treatment of multiple sclerosis spasticity, which provides multiple opportunities for an NDA submission, including as early as next year.
“Beyond nabiximols, we are advancing several clinical-stage pipeline candidates, including the recent start of a Phase 2 trial in schizophrenia.”
The $137.1m revenue figure compared to $91m for the quarter ended September 30, 2019.
Total revenue for the first nine months of 2020 sky-rocketed to $378.6m compared to $202.3m in the prior year period. Net loss for the quarter was also cut to $12.2m from $13.8m year-on-year.