3 Things You Need To Know About This Marijuana Stock's First Quarter Performance
After updating investors on its first-quarter financials, investors may be wondering if marijuana drug developer GW Pharmaceuticals' (NASDAQ:GWPH) shares should be bought or sold. Here are 3 key takeaways from GW Pharmaceuticals report that offer insight into whether this company is worth owning in portfolios.
No. 1: Revenue elusive
Despite GW Pharmaceuticals already commercializing a THC derived drug, Sativex, in Europe, sales continue to be more of a trickle than a flood. In Q1, GW Pharmaceuticals reports that total revenue clocked in at only $9.1 million. That's down from $20.7 million (at current exchange rates) a year ago. Muddying the decline, however, is the fact that most -- if not all -- of the drop is associated with an end to collaboration revenue on Sativex that had been tied to studying it as a therapy for cancer pain. Those payments from co-developer Otsuka stopped rolling in once Sativex's...
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