Justin Gover, the CEO of GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH), said that in FY2016, the company has closed three promising Phase III studies for Epidiolex in subjects with two different rare cure resistant types of childhood-onset epilepsy and they are making strong advancement towards an NDA filing.
The sights are now concentrated on Epidiolex agreement and accelerating their preparations for a successful launch. Their objective is to offer the kids and their families struggling from these forms of childhood-onset epilepsy with a new prescription alternative as quickly as possible.
GW Pharmaceuticals reported that its revenue for the year closed September 30, 2016 came at £10.3 million compared to £28.5 million in the same period a year earlier. Loss for the year closed September 30, 2016 amounted to £63.7 million against £44.6 million for the year closed September 30, 2015. Cash/cash equivalents came at £374.4 million versus £234.9 million in the comparable period.
The company updated on the performance of Epidiolex® orphan epilepsy plan in Dravet syndrome, LGS, Tuberous Sclerosis Complex and infantile spasms Phase III studies. Positive results were reported in a pivotal Phase III Dravet syndrome trial and also from two pivotal Phase III LGS trials.
Coming to marijuana industry, Marapharm Ventures Inc. (OTCMKTS:MRPHF) provided timelines updates for its sought-after Las Vegas, Nevada project. The company has updated on this planned assignment first on November 14. Later it released additional PRs on November 23, and also on December 4 and 6, to provide more details.
Linda Sampson, the CEO of Marapharm, reported that they are thrilled as Nevada gets nearly 50 million adult tourists annually. Marijuana is legalized for both recreational and medicinal use in the regions, which makes them believe the potential is huge and they are all set to embrace the upcoming change. They have paid for the land, equipment, buildings, and other items. The company is in strong financial position with almost $4 million in cash as working capital for this project.