GW Pharmaceuticals PLC reported Tuesday afternoon that sales of its cannabis-derived epilepsy drug more than doubled from the previous quarter, sending shares spiking more than 11% higher in after-hours trading.
GW Pharmaceuticals GWPH, +0.73% reported second-quarter sales of $68.4 million for Epidiolex, which uses cannabidiol, a compound present in cannabis plants to treat certain forms of epilepsy. Wall Street analysts had forecast Epidiolex sales of $40.9 million, after GW Pharma reported sales of $33.5 million in the first quarter.
“We are pleased to report a strong second quarter of sales of Epidiolex in the U.S., reflecting high demand by U.S. patients, increased prescribing by health care providers, and ongoing progress in payer-coverage determinations,” GW Pharma Chief Executive Justin Glover said in a statement.
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Since the drug’s launch, the company said more than 12,000 patients have received prescriptions for the medicine and it has been dispensed to 2,500 doctors.
Overall, the company reported second-quarter net income of $79.8 million, or 21 cents a share, compared with losses of $84 million, or 25 cents a share, in the year-ago period. The United Kingdom-based company’s net income benefited from a $104.1 million gain on the sale of one of its intangible assets. Revenue rose to $72 million from $3.3 million in the year-ago period.
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Analysts surveyed by FactSet had estimated overall earnings of a penny a share on revenue of $47 million.
For the third quarter, analysts model losses of 14 cents a share on sales of $58.1 million.
GW Pharmaceuticals shares closed with a 0.7% gain at $152.42, but were trading close to $170 in the extended session. The stock has gained 57% this year, while the S&P 500 index SPX, +1.30% has increased 13.5%. Max A. Cherney is a MarketWatch reporter based in San Francisco.
GW 制药GWPH ,+0.73%据报道， Epdiolex 公司第二季度销售额为6,840万美元，该公司使用大麻植物中的一种化合物大麻来治疗某些形式的癫痫。华尔街分析师曾预测 Epidelex 销售额为4090万美元，此前 GWPharma 公布第一季度销售额为3350万美元。
GW Pharma 首席执行官贾斯汀•格洛弗( Justin Glover )在一份声明中表示：“我们高兴地报告 Epidelex 在美国的第二季度销售强劲，反映出美国患者的高需求、医疗保健提供者开出的处方增多以及支付者覆盖率决定的持续进展。”
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GW Pharmaceuticals 股价收盘上涨0.7%，至152.42美元，但在延续交易时段接近170美元。该股今年上涨了57%，标准普尔500指数上涨