OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) is a micro-cap momentum name with tremendous 2017 traction in the cannabis space. However, the stock has been struggling to find a new leg in its trend in recent weeks. This week saw a new catalyst come and go without a renewed bounce when the company announced the highly promising results of its topical cream efficacy tests “following months of study and scientific analysis”.
As noted in the company’s March 21 release, “in October 2016, OWC announced that it was in the final phase of pre-clinical efficacy testing for its topical psoriasis cream and also announced a parallel test to assess the efficacy of the formulation in treating psoriasis in human skin tissue. The recent results are highly promising, showing significant reduction of several inflammation markers specific to psoriasis.”
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.
OWCP’s Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids in the treatment of various medical conditions, wile 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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The narrative here is really about getting to market in some form. And part of that looks to be via a new study that will really solidify and expand on the promise apparently indicated by these results.
As such, the recent release continued to note that: “As a result of the promising results of our psoriasis tests, our Chairman and CEO, Mr. Mordechai Bignitz, has directed OWC’s scientific team to submit an operating plan within 60 to 90 days to conduct double-blind efficacy tests of our cannabinoid-based topical cream on other skin disorders and conditions.”
Dr. Yehuda Baruch, the Company’s Chief Science Officer and Director of Research and Regulatory Affairs, commented, “As a practicing physician and a scientist who has been treating patients with cannabis for medical purposes for more than two decades, I am truly excited by our success to date and, more importantly, I am thrilled to be part of a professional scientific study on humans that should actually validate what I have believed and experienced for years – Cannabis helps treat a multitude of health conditions.”
Mr. Mordechai Bignitz, the Company’s Chairman and CEO, stated that, “Immediately after we announced our cannabinoid-based formulation for our psoriasis treatment, we began receiving requests for the topical psoriasis cream from patients who had been long-time sufferers from the condition. We are very pleased to say that OWC is expecting the topical cream product readiness during 2017 Q2 and, subject to positive completion of our safety IRB approved study and obtaining regulatory approvals from applicable jurisdictions, we should be able to offer our topical cream to those who suffer from psoriasis in the near term.”
At this time, carrying a capital value in the market of $172.9M, OWCP has about $90k in cash on the books, which compares with about $186k in total current liabilities, with some mild q/q growth in obligations in recent reporting. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $OWCP stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!