By William Sumner Hemp Enterprise Journal Contributor

Final week, GW Prescription drugs (NASDAQ: GWPH) launched its monetary outcomes for the second quarter, and the outcomes shocked analysts and buyers alike. Yr-over-year, the corporate’s income for the quarter rose from $3.Three million to $72 million, a rise of 20.8x.

Most of that income got here from gross sales of the corporate’s flagship drug, cannabidiol ( CBD)-derived Epidiolex, which reached $68.Four million for the quarter and $101.9 million for the primary half of the 12 months, destroying even essentially the most bullish of trade predictions. In context, the Hemp Enterprise Journal’s estimate final 12 months referred to as for 2019 Epidiolex gross sales to prime out at $65 million (which GW Prescription drugs subsequently surpassed in a single quarter).

Given these outcomes, short-term expectations are being heightened throughout the trade concerning shopper appetites for CBD verticals throughout the area.

Since Epidiolex’s launch, roughly 12,000 sufferers have acquired prescriptions for the drug, and that quantity is predicted to extend all through the subsequent few years. GW Prescription drugs is at present conducting medical trials of Epidiolex within the remedy of tuberous sclerosis advanced (TSC) in each grownup and juvenile sufferers.

With constructive outcomes from Part Three trials, the corporate is predicted to submit a supplemental new drug utility (sNDA) by the tip of the 12 months. If accepted, roughly 50,000 new U.S. sufferers may obtain Epidiolex prescriptions.

The corporate might also add gross sales channels within the European market. Having final month acquired a constructive opinion from the European Medicines Company’s (EMA) Committee for Medicinal Merchandise for Human Use (CHMP) GW Prescription drugs expects full EMA approval in October, clearing the way in which for Epidyolex (the European trademark) to hit European cabinets in This fall-2019. With constructive outcomes for the second quarter, GW Prescription drugs has seen a small surge in its inventory worth. Within the instant aftermath of releasing its monetary outcomes, the corporate’s inventory rose roughly 11.2%, to $169.50 per share on August 8. Since then issues have leveled off considerably, with the inventory’s worth falling again all the way down to round $159.38, representing an total acquire of 4.5%.

The success of Epidiolex and GW Prescription drugs will undoubtedly assist ratchet up the strain on the U.S. Meals and Drug Administration (FDA) to subject on a ruling on CBD.

With a whole bunch of CBD-based merchandise already available on the market, there’s clear shopper demand for CBD, and with one firm already making a whole bunch of hundreds of thousands from a CBD-based drug, there’s a robust monetary incentive to offer readability on the problem. Extra FDA steering is predicted this fall.

William Sumner

William Sumner is a author for the hemp and cannabis trade. Hailing from Panama Metropolis, Florida, William covers varied matters reminiscent of hemp laws, funding, and enterprise. William’s writing has appeared in publications reminiscent of Inexperienced Market Report, Civilized, and MJINews. You possibly can observe William on Twitter: @W_Sumner.