GW Pharmaceuticals (NASDAQ:GWPH) stock is down more than 5% after the bell as the company reported its latest quarterly earnings figures, which came in below what analysts were calling for from the revenue front.
The British biopharmaceutical company said that for its fourth quarter of its fiscal 2018, it brought in net losses of $79.9 million, or 23 cents per share. The figure was 48.23% wider than the company’s net losses from its fourth quarter of its fiscal 2017, when it lost $53.9 million, or 18 cents per share.
GW Pharmaceuticals added that its revenue for the period came in at $2.4 million, a 4% decrease from the $2.5 million it amassed during its year-ago quarter. Analysts were calling for the company to bring in revenue of $2.9 million for the period, according to data compiled by FactSet.
There were not enough Wall Street estimates from analysts for a reliable earnings consensus estimate on a per-share basis. GW Pharmaceuticals added that its product sales for its fourth quarter of the fiscal year came in at $2.3 million, which also marked a decline from the year-ago quarter of about 1.1%.
GWPH stock was sliding more than 4.7% during regular trading hours as the company geared up to unveil its latest quarterly earnings results, which included a revenue miss. Shares continued dropping after GW Pharmaceuticals reported on its fourth quarter, sliding nearly 5.2% after the bell Tuesday.