Written by StockNews.com

Medical marijuana giant GW Pharmaceuticals plc.  (NASDAQ:GWPH) early Monday posted mixed fourth quarter earnings but offered an upbeat outlook.

The Cambridge, UK-based company reported a Q4 net loss of GBP0.06 per share, which was GBP0.03 better than the consensus estimate for a loss of GBP0.09. Revenues plunged 69.6% from last year to GBP1.7 million, badly missing the GBP2.31 million that analysts had expected.

On a positive note, GW said its NDA submission for both its Dravet and LGS indications are expected at end of the first half of 2017. Meanwhile, preparations are advancing for EU regulatory submission in the second half of 2017, and manufacturing scale-up is on track to deliver significant commercial launch inventory.

The company commented via press release:

“In 2016 GW has completed three positive Phase 3 trials for Epidiolex in patients with two different rare treatment resistant forms of childhood-onset epilepsy and we are making good progress towards an NDA submission. Our sights are now focused on Epidiolex approval and accelerating our preparations for a highly successful launch,” stated Justin Gover, GW’s Chief Executive Officer. “Our goal is to provide the children and their families suffering from these highly treatment-resistant forms of childhood-onset epilepsy with a much needed new prescription option as quickly as possible.”

GWPH shares were unchanged in premarket trading Monday. Year-to-date, GWPH has surged 61.75%.