Biopharmaceutical company GW Pharmaceuticals plc (NASDAQ: GWPH) revealed Tuesday that its revenue for the third quarter hit $137.1 million, up by 51% year-over-year.
For the first nine months of this fiscal year, total revenue amounted to $378.6 million versus $202.3 million for the same period of 2019.
For the quarter, net loss was $12.2 million, down by 13.1% compared to last year’s corresponding quarter.
As of Sept. 30, the company had $480.3 million in cash and cash equivalents.
GW Pharmaceuticals also reported “strong revenue growth” in the third quarter “despite the challenges presented” by the current health crisis, GW chief executive Justin Gover said.
Over the quarter, the CBD epilepsy drug — Epidiolex — generated $132.6 million in net sales. In August, the FDA approved the expansion of the indication for the drug.
Besides treating those suffering from seizures linked to Lennox-Gastaut and Dravet syndromes, the plant-derived CBD medicine can also manage…