OWC Pharmaceutical Research Corp
OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) traded higher, weeks after a letter to shareholders indicated the company was making significant progress on the development of cannabis-based products for unmet medical needs. Shares of the company gained 22.6% in Monday’s trading session to end the day at $0.429 a share.
Monday’s rally helped suspend a sell-off wave that had plagued the stock in recent months. While the stock is up by more than 15% for the year, it has underperformed after dropping from $2.60 a share in March.
In a bid to strengthen investors’ confidence, the chairman, Mr. Mordechai Bignitz, says they have made significant progress over the past eight months on the development of cannabis-based products.
“As a management team, it is our vision to develop OWC Pharma as the leading cannabis-based specialty Pharma Company. Over the last few months we have executed on a number of important steps in order to fulfill this vision,” said Mr. Bignitz.
OWC Pharmaceutical Corporate Highlights
OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) has already completed a preclinical efficacy study in psoriasis. The study indicating a 70% reduction in biological markers related to the condition.
OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) has also received the first ever Institutional Review Board approval. The approval paves way for the company to conduct a safety study for cannabis-based topical cream that contains more than 3% THC. The company has also filed for Intellectual Property protection on various delivery methods for the treatment of various diseases.
The company remains well positioned to deploy its capital on activities that accelerate the next phase of growth. OWC Pharmaceuticals is also evaluating the possibility of cross-listing its stock on the TSX as a way of increasing its shares liquidity. The listing will also provide the company with the ability to raise capital for future development and commercialization efforts.
In addition, OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) has also taken the necessary steps to protect its intellectual property. The company’s wholly owned subsidiary, One World Cannabis, has filed a patent application with the European Union Patent and Trademark Office for an active cannabinoid-based psoriasis topical cream.
Our primary short-term objective is to introduce our topical cream for skin conditions including, most importantly, psoriasis to the market,” said Mr. Bignitz.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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