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Sunday, October 25, 2020

OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) Has An Edge

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OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) has been advancing nicely on the strength of recent access to increased capital financing at strong terms for the Company. We covered this one earlier this month, suggesting that the story looked like a bullish opportunity given the financing step, in concert with the Company’s leading edge research team in Israel and the strong growth context for the US cannabis-related market segment.

As with most things these days in the OTC market, this is another story currently dominated by the macro element of a likely expanding footprint for end market sales due to increased legalization throughout the US. The matter is not just about the nine states that are going to be voting in November, but the sense of a breaking point whereby forecasts of national legalization in the US start to become more reasonable.

OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) bills itself as a company that engages in the research and development of Cannabis-based medical products. The company provides medical products for the treatment of various medical conditions and/or diseases, such as multiple myeloma, psoriasis, PTSD, and migraines; and delivery systems. It also provides consulting services to companies and governmental agencies related to international medical cannabis protocols and regulations.

OWCP through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., conducts medical research and clinical trials to develop cannabis-based pharmaceuticals, treatments and unique delivery systems for the effective delivery and dosage of medical cannabis.

All OWC research is conducted at leading Israeli hospitals and scientific institutions, and led by internationally renowned investigators.

The Company’s Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids in the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks.

The Company is a wholly owned subsidiary of OWC Pharmaceutical Research Corp. The company was formerly known as Dynamic Applications Corp. OWC Pharmaceutical Research Corp. was founded in 2008 and is based in Petach Tikva, Israel.

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As we discussed earlier in the month, OWCP announced an agreement for $300,000 in project financing with Medmar LLC.

According to the terms of the agreement, the funds will be allocated to complete the development of the Company’s proprietary psoriasis cream, and Medmar ends up with exclusive rights to manufacture, produce, publicize, promote and market OWC’s Licensed Products in any state in the U.S. Investors will be pleased to know that the loan is non-interest bearing and will be repaid from royalties generated by the sale of OWC licensed products, more or less guaranteeing a very low-risk, low-dilution source of capital, particularly when paired with the Company’s low leverage fiscal bearing.

Steve Weinstein, CEO of Medmar said, “Medmar has been anxious to advance cannabis as medicine, however US regulation makes it very difficult for companies here to actively pursue any type of development in the sector; fortunately, the environment in Israel is more favorable to the industry.”

In a more recent update this week, the company announced it is starting the final phase for testing the efficacy of its own developed topical crème compound for the treatment of psoriasis and related skin conditions.

The Company’s recently completed Challenge Testing for the topical crème, successfully demonstrated the product’s robustness against microbiological contamination, stability, and provided a preliminary safety assessment. This next phase of Safety testing protocol was designed to corroborate that the cream is safe for application to the skin. This will be demonstrated by giving a highly concentrated topical crème formulation to healthy patients within a hospital controlled environment. The safety phase will start upon receiving the Institutional Review Board approval by the national IRB committee which is expected to be assembled in November 2016.

Dr. Yehuda Baruch, the Company’s Director of Research and Regulatory Affairs, commented on the announcement, “Psoriasis is an affliction of the immune system resulting in sub-dermal infection that can be painful and uncomfortable. Cannabis is believed to provide relief from some infections and skin conditions, and it is a central ingredient in our topical crème formulation. Our preliminary studies indicate the formulation does provide relief of these symptoms, and we are confident that these studies will corroborate those results.”

The million dollar questions remains; can OWCP capitalize on the historic US cannabis movement? At this time, carrying a capital value in the market of $4.5M, OWCP has a decent store ($162.28k) of cash on the books, with total assets topping $200K, which is balanced by almost no total accumulated debt. In other words, this is a fiscally responsible company. According to our survey, there is an edge here based on both funding terms and a superior research context. And the market environment continues to be a tailwind for this space. We will update against soon as events transpire. For continuing coverage on $OWCP and our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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