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GW Pharmaceuticals swings into the black with a full year after-tax net profit of 1.5m compared with a loss of 8.2m last time.
Turnover for the year to the end of September increased to 24.1m from 11.8m.
Cash and short term deposits increased to 20.6m - up from 14.1m last time.
Chairman Dr Geoffrey Guy said: "During 2009, we have delivered our maiden full year profit, doubled turnover and improved our cash position.
We also reported positive Phase III data for Sativex in MS spasticity and regulatory submissions are now underway in both Europe and Canada.
In addition, we have made good progress with our US cancer pain programme and in advancing the product pipeline in exciting new areas.
"We are currently working with our marketing partners towards the first major commercial launch of Sativex.
"With this landmark event and further material clinical data due next year, I believe that 2010 will see GW complete the transition into a commercial stage pharmaceutical business with excellent growth prospects."
Story provided by Business Financial Newswire
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