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Hemp Stock GW Pharmaceuticals Reports Strong Q1 Growth

Demand for its patented Epidiolex drug has shares in this hemp stock on the rise.

Hemp Stock GW Pharmaceuticals Reports Strong Q1 GrowthHemp stock GW Pharmaceuticals (NASDAQ:GWPH) has, once again, surpassed analysts’ expectations with the release of its Q1 financial results on Monday evening. GW Pharma reported revenue growth of 207% YoY to $120.6 million. While GW Pharmaceuticals still reported a net loss during the quarter of $8 million – this is still a significant improvement compared to the $50 million net loss during this quarter last year. This is mainly a result of reduced research and development costs for the quarter.

What is fueling this Hemp Stock’s Revenue Growth?

The hemp stock’s revenue growth has been fueled by increased sales in its patented CBD drug Epidiolex. Epidilex is most commonly known for its treatment for rare epilepsy disorders Lennox-Gastaut and Dravet syndrome. However, GW Pharma is reporting other successful uses of Epidiolex and is anticipating FDA approval for the drug for use in treating tuberous sclerosis complex (TSC).  

Net product sales for Epidiolex were $116.1 million, with 106.1 million coming from US sales alone. However, with probable FDA approval of Epidiolex for TSC, GW Pharmaceuticals could double its potential market for the drug. Specific cannabinoids, like CBD found in Epidiolex, have been proven to reduce pain and inflammation. Although there are also other natural remedies, such as turmeric, which can achieve the same result. 

What’s the Future for this Hemp Stock?

Hemp Stock GW Pharmaceuticals Reports Strong Q1 Growth

We expect these revenues to continue to increase as the drug continues to become available in new markets throughout Europe – including the UK, Spain, France, Germany, and Italy this year. With a growing demand for Epidiolex in these new markets and new FDA approval for expanded treatments of TSC, GW Pharmaceuticals continues to impress. We believe this hemp stock will continue to grow both in the short and long-term and encourage our readers to add this hemp stock to their watchlist.

When evaluating the best hemp stock investing opportunities, it pays to follow both the technical and fundamental analyses. Check out Stephen Goldman’s recent technical analysis video of GW Pharmaceuticals to see if this is the right time to buy this hemp stock.

Hemp Stock GW Pharmaceuticals Reports Strong Q1 Growth

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