GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) recently released operational and financial highlights, which indicated to a planned strategy of getting their product through evaluation to market and make it available for sale once it is approved. As many as 1,500 people have received Epidiolex treatment while around 97% of subjects who completed Phase 3 studies have made into long term extension.
GW Pharmaceuticals reported that Epidiolex® NDA submission is projected to be closed in mid-year. The pre-release preparations and U.S. commercial team plans are advancing well. Also, the EU commercial team has been successfully established. Thirteen distinct patent families in trial connecting to the use of CBD in the epilepsy treatment; decisions anticipated for several patents in this year and by H1 2018.
As of now, the prime emphasis continues to be on the Epidiolex NDA submission, which is planned to be closed in the middle of this year. Grounded on the efficacy and safety parameters, the team is confident to get an Epidiolex approval and work on the commercial organization expansion in preparation for a successful release. Beyond Epidiolex, they continue to grow a number of additional thrilling clinical programs.
GW Pharmaceuticals revealed financial results on May 9. One major observation was that of cash position which looks adequate enough to keep drug pipeline funded and progress Epidiolex plans. The company posted cash and cash equivalents of £306.3 million for the period closed March 2017 compared to £374.4 million at the close of September 2016.
GW Pharmaceuticals revenue for the first two quarters closed March 2017 came at £3.7 million against £6.3 million for the equivalent period of March 2016. Loss during the same period came at £50.0 million against £34.5 million for the analogous period of 2016.
In the last trading session, the stock price of GW Pharmaceuticals gained more than 1% to close the day at $101.76.