On its fiscal 2018 fourth-quarter earnings conference call, GW Pharmaceuticals (GWPH) announced the change of the end of its fiscal year from September 30 to the calendar year’s end on December 31.
Analysts expect GW Pharmaceuticals to report revenue of $131.30 million in 2019, a YoY (year-over-year) rise of 930.86%. The company is also expected to report revenue of $421.71 million in 2020, a YoY rise of 221.18%. Analysts expect GW Pharmaceuticals’ 2021 revenue to be $841.27 million, a YoY rise of 99.49%.
Analysts also expect GW Pharmaceuticals’ revenue to be close to $10.47 million in the first quarter of 2019, reflecting a YoY rise of 35.44%.
Cash flows and financing
On October 5, GW announced the closing of equity financing that had resulted in gross proceeds of $345.23 million and net proceeds of $324.20 million.
On its earnings call, the company said that the value of cash and cash equivalents on its balance sheet at the end of September was close to $354.90 million. On December 11, 2017, the company announced the closing of equity financing that had resulted in gross proceeds of $317.4 million. At the end of its fiscal 2018, which ended in September, GW Pharmaceuticals reported net cash flows from financing of ~$297.8 million, while its net cash used in operating activities was close to $231.9 million. The company also reported capex of $33.4 million in 2018.
According to its fiscal fourth-quarter earnings conference call, the company is currently well-funded to launch Epidiolex in the United States and Europe, expand its manufacturing capacity, and invest in its research pipeline.
In the next article, we’ll discuss earnings projections for GW Pharmaceuticals in the coming quarters.