GW Pharmaceuticals announced a virtual investor event on June 30, 2020, to discuss the U.S. development program for its late-stage drug, nabiximols. The event will run from 10:00 am to 12:00 pm EDT and will feature experts and executives, with a replay available on their website afterward. Nabiximols is set to enter Phase 3 trials focused on treating MS spasticity, with further indications planned for spinal cord injury spasticity and PTSD. Nabiximols, known as Sativex outside the U.S., has shown positive results in Europe for MS spasticity.
GW Pharmaceuticals reported total revenue of $120.6 million for Q1 2020, a significant increase from $39.2 million in Q1 2019. Net product sales of Epidiolex were $116.1 million, with U.S. sales at $106.1 million. The company is poised for growth, especially with a planned launch for a Tuberous Sclerosis Complex (TSC) indication in August, following FDA priority review. Despite a net loss of $8.0 million this quarter, down from $50.1 million last year, GW maintains a strong balance sheet with $500.9 million in cash and equivalents.
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