| CATEGORY: AIM BULLETIN SECTOR: PHARMACEUTICALS & BIOTECHNOLOGY |
GW finishes year in the black |
|
Wed 25 Nov 2009
|
LONDON (SHARECAST) - GW Pharmaceuticals, the developer and manufacturer of a range of new cannabis based medicines, lost money in the second half of its financial year but still ended it in the black for the first time in its history.
Profit before tax in the year to 30 September was £1.15m versus a loss of £8.22m a year earlier. Revenue rose to £24.12m from £11.77m.
Cash and short term deposits at the end of September had risen to £20.6m from £14.1m a year earlier.
Hailing the company’s maiden full year profit, GW’s chairman, Dr. Geoffrey Guy, noted ‘we also reported positive Phase III data for Sativex in MS [multiple sclerosis] spasticity and regulatory submissions are now underway in both Europe and Canada.’
The company is currently working with its marketing partners on plans to launch Sativex, its mouth spray product for MS sufferers, commercially next year.
|
|
| |
|
 |
Archived Stories |
 |
|
Front Page Stories |
|
|
