GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) lead CBD pharmaceutical product, Epidiolex, is a liquid formulation of pure crop-derived CBD, which is in advancement for the treatment of several rare childhood-onset epilepsy ailments. The company posted its quarterly report, which demonstrated a methodical and interesting approach of getting it product through trial and then to market and offer the product post regulatory approval.
As per the latest update, more than 1,500 patients have been tested with Epidiolex treatment; 97% of people who underwent Phase 3 studies have now moved to long term extension. GW Pharmaceutical intends to file for Epidiolex® NDA in mid-year. The work is going as planned with pre-launch preparations progressing well. Besides that, commercial team in the European Union is also being established.
As of now, the major focus of GW Pharmaceuticals is on the filing of the Epidiolex NDA. Depending on the safety and efficacy profile, the company considers that it is well placed to obtain approval for Epidiolex following which it continues to expand in anticipation for a successful launch. Also, the company continue to work on additional thrilling clinical programs.
GW Pharmaceuticals released its financial results last month. Going by the posted figures, the company has adequate cash to keep its drug pipeline going and focus on Epidiolex plans. Cash and cash equivalents at the close of March 2017 stood at $383.9 million. Revenue for the two quarters closed March 2017 was $4.6 million while loss stood at $62.6 million.
Based on the latest released financial report, the current analyst ratings are in a range of between $40 and $208 with an average rating of around $147.
On Thursday, the stock price of GW Pharmaceuticals gained more than 2% to close the day at $100.61. The gains came at a share volume of 185,829 compared to average share volume of 290,583.