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GW Pharmaceuticals plc Reports 2013 Q4 and Full Year Financial Results
Date:11/19/2013

purified extract of Cannabidiol, or CBD)
  • FDA orphan drug designation granted by FDA for Epidiolex in Dravet syndrome
  • Seven physician-led INDs granted by FDA to treat 125 pediatric epilepsy patients in the U.S. with Epidiolex
  • Epidiolex pediatric epilepsy clinical trials in planning for 2014
  • Additional epilepsy pipeline candidate, GWP42006 (Cannabidivarin or CBDV), commenced Phase 1 trial in September 2013
  • Significant clinical activity for GW's other cannabinoid pipeline product candidates, including:
  • Positive preliminary data reported from a Phase 2a exploratory clinical trial of the novel cannabinoid medicine GWP42004 in type-2 diabetes with a Phase 2 dose ranging trial expected to commence in early 2014
  • Phase 2 trial of GWP42003 for the treatment of ulcerative colitis on-going with data expected in the first half of 2014
  • Phase 2 trial of GWP42003 for the treatment of schizophrenia expected to commence in the first half of 2014
  • Phase 1b/2a trial of THC:CBD for the treatment of glioma commenced in November 2013
  • Financial Highlights

  • Total revenue for 2013 of £27.3m ($44.2m) compared to £33.1m in 2012. 2012 revenues included a £9.8m milestone receipt compared to £0.3m milestone income in 2013.
  • Net loss after tax for 2013 of £4.5m ($7.4m) compared to a profit after tax of £2.5m in 2012, which primarily reflected the impact of the £9.8m milestone payment received last year.
  • Cash and cash equivalents at 30 September 2013 of £38.1m ($61.6m) compared to £29.3m as at 30 September 2012.
  • "This was a transformative year for GW with the successful completion of an IPO on NASDAQ, progress with two Phase 3 programs for Sativex in the United States, and the emergence of a new exciting orphan development program in childhood epilepsy," stated Justin Gover, GW's Chief Executive Officer. "We believe that th
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    SOURCE GW Pharmaceuticals plc
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