OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) is a micro-cap name that has exploded higher in front of the rest of the cannabis patch on a stream of catalysts. The latest key news hit on Monday, when the company announced it has received Institutional Review Board (IRB) approval to conduct safety testing on its proprietary topical crème compound for the treatment of psoriasis and related skin conditions. The approval follows the Company’s February 1, 2017 8K filing announcing an extension to the size and scope of its efficacy study on the same compound, which began in November 2016.
Traders will note more than 300% added to share values of the stock over the past month of action. We have also seen a ton of new interest continue to flow into the name, with a jump in recent trading volume to the tune of over 180% over what OWC Pharmaceutical stock has registered over the longer term. Since we last covered the name, OWCP has moved 195% higher.
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, 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.
According to company materials, “OWC Pharmaceutical Research Corp., through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., (collectively “OWC” or the “Company”) conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. OWC is also developing 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 for the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks.”
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The company’s press release provided further details on the IRB approved study.
Apparently, it encompasses the cream itself, as a delivery mechanism, as well as the proprietary psoriasis formulation, and is the first to formally make such claims with the NIH Registry. The double-blind study, which will be conducted on healthy volunteers at one of Israel’s leading academic hospitals, is designed to demonstrate the safety of the formulation in treating psoriasis on human skin tissue. Administrators began soliciting for study participants as soon as approval was received.
Dr. Yehuda Baruch, the Company’s Director of Research and Regulatory Affairs, commented on the announcement, “This approval is a significant milestone for OWC, where our mission is to bring the same rigorous approach common to traditional pharmaceutical development to the medical cannabis field. As we reported earlier this year, the results of our efficacy studies were so encouraging that management decided it was in our interest to extend the size and scope of the study to check the biological markers that had been generated to date, among other things.”
Earning a current market cap value of $365.9M, OWC Pharmaceutical has virtually no cash on the books, which compares with virtually no total current liabilities. 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 OWC Pharmaceutical stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!