GW Pharmaceuticals PLC (NASDAQ:GWPH) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 04:30 pm ET


GW Pharmaceuticals PLC (NASDAQ:GWPH) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the GW Pharmaceuticals Second Quarter 2020 Financial Results Call. [Operator Instructions]

It is now my pleasure to introduce your host, Mr. Stephen Schultz, Vice President, Investor Relations. Thank you, sir. You may begin.

Stephen Schultz

Welcome to all of you, and thank you for joining us today for our second quarter 2020 results call. Again, I'm Steve Schultz, Vice President of Investor Relations at GW. Today, I'm joined by Justin Gover, GW's Chief Executive Officer; Darren Cline, U.S. Chief Commercial Officer; Chris Tovey, our Chief Operating Officer; Dr. Volker Knappertz, Chief Medical Officer; and Scott Giacobello, our Chief Financial Officer. We hope you've had a chance to review our press release issued a short while ago, and we expect to file our Form 10-Q tomorrow. Before we begin, let me remind everyone that today's discussion contains forward-looking statements based on the environment as we currently see it, and as such, does include risks and uncertainties. A list and description of risks and uncertainties associated with an investment in GW can be found in the company's filings with the U.S. Securities and Exchange Commission. Finally, an archive of today's call will be posted to the GW website in the Investor Relations section.

I now turn the call over to Justin Gover, GW's Chief Executive Officer.

Justin Gover

Thank you, Steve, and welcome to all those who have joined us today. In these somewhat extraordinary times of COVID-19, I hope that you all remain healthy and safe. At the time of our quarter one call in early May, GW had responded to the COVID pandemic by adopting a work-from-home policy for most of the company with the exception of a manufacturing team, which continued to operate under strict safety protocols to ensure patient access to our medicines. In the last few months, our manufacturing operations have continued to operate smoothly, and I remain grateful to all those staff who have continued to come to work every day to ensure that our patients receive the medicines that they need. Our field commercial teams in both the U.S. and Europe have been able to maintain active engagement via remote channels with clinicians prescribing Epidiolex. During Q2, our sales organization pivoted well for the virtual environment using rapidly adapted educational and marketing materials tailored to remote engagement. Overall, I'm extremely proud of how, even in the face of the challenges of this unprecedented pandemic, we have delivered quarter-on-quarter revenue growth in the U.S. with Epidiolex net sales in the U.S. in Q2 reaching $111 million. I think this growth is a real testimony to the importance of Epidiolex in meeting a serious unmet need in patients with treatment-resistant seizures and to the commitment of our organization to these patients and their families. Within the last week, we were delighted to announce that Epidiolex was approved by the FDA for the treatment of seizures associated with tuberous sclerosis complex, or TSC. This approval is a very significant milestone in the expansion of the market opportunity for Epidiolex,