Most investors understand the importance of listening to quarterly conference calls, as companies will often reveal important information in either the prepared remarks or the Q&A that follows that isn't conveyed in the press release. Such was the case with GW Pharma (GWPH) (LON:GWP), which reported its Q2 today.
Today's press release neglected to mention the timing of the New Drug Application (NDA) filing with the FDA for its epilepsy drug, Epidiolex. The timing is crucial because the drug can't be marketed until it receives FDA approval, which can take more than a year from the time the NDA is filed, though for GWPH, which has Fast Track Designation, a likely scenario would be about 10 months from submission to being able to market Epidiolex. When it reported Q1, the press release was very clear regarding the timing, with the company suggesting it would happen in Q4: