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May 11, 2020, 4:09 p.m. EDT

GW Pharmaceuticals sells more of CBD-derived epilepsy drug than expected, stock rises

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By Max A. Cherney

GW Pharmaceuticals PLC /zigman2/quotes/209686240/composite GWPH +0.36% shares rose 2.6% in the extended session Monday after the U.K.-based company sold much more of its cannabis derived epilepsy drug, Epidiolex. The company reported a first-quarter net loss of $8 million, or 2 cents a share, compared with a loss of $50.1 million, or 14 cents a share, a year ago. Revenue rose to $120.6 million from $39.2 million in the year-ago period. The company's most popular drug, a cannabis-derived medicine used to treat epilepsy, logged sales of $116.1 million, topping analyst expectations of $106.9 million, according to FactSet's survey. Wall Street expected an adjusted net loss of 7 cents a share on sales of $108.4 million. GW Pharma stock has inched up 4.7% this year as the benchmark S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.95% has fallen 9.3%.

/zigman2/quotes/209686240/composite
US : U.S.: Nasdaq
$ 214.94
+0.77 +0.36%
Volume: 2.06M
March 5, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.74 billion
Rev. per Employee
$457,628
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/zigman2/quotes/210599714/realtime
US : S&P US
3,841.94
+73.47 +1.95%
Volume: 3.33B
March 5, 2021 5:44p
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