Waterlogic : GW net losses rise

GW Pharmaceuticals, a biopharmaceutical company focused on discovering, developing and commercialising therapeutics, has reported revenues of £30m for the year ended September 30 2014. This was £2.7m higher than in the previous 12 months. The net loss after tax was £14.7m, compared to £4.5m last year, which primarily reflected the impact of increased investment in research and development. Justin Gover, GW's chief executive officer, said: "GW's business has transformed over the last year principally as a result of the rapid advance of our Epidiolex program to treat orphan syndromes in the field of childhood epilepsy. "During 2014, we have raised significant capital from U.S. investors, commenced treatment of approximately 200 children, obtained encouraging clinical data, and commenced formal clinical development in the U.S. "In 2015, we expect to complete much of the Epidiolex development program as well as start to build a U.S. commercial presence in anticipation of future launch. Beyond Epidiolex, we expect to report Phase 3 data from the Sativex cancer pain trials in early 2015 which, if positive, would enable the filing of NDA in the U.S. during next year. We also look forward to progressing multiple clinical trials for our cannabinoid product pipeline." At 12:43pm: (LON:GWP) GW Pharmaceuticals PLC share price was -11.12p at 381.38p Story provided by StockMarketWire.