If you’ve already read the entire Form 8-K posted after hours on March 20th, this blog won’t really tell you anything new. The purpose of this blog is to break down and highlight the key words as many folks are intimidated by “big SEC documents” and don’t read through them. I’m just here to make things easier for those investors.
They start by saying they’ve issued a PR “announcing the promising preliminary results from the efficacy testing of its cannabinoid-based topical cream for treating psoriasis, reporting significant reduction of several inflammation markers specific to psoriasis. OWC announced that it anticipates that the topical cream will be market-ready during 2017 Q2 and, subject to regulatory approvals from applicable jurisdictions, the topical cream should be available for use by those who suffer from psoriasis in the near term.”
The wording of the official PR starts by reminding us that back in October 2016 they announced they were in their “final phase of pre-clinical efficacy testing” and also announced “a parallel test to assess the efficacy of the formulation”.
Furthermore, Mordechai Bignitz (Chairman & CEO) 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. So, that means we can expect news by June 18th or so.
Dr. Yehuda Baruch said, “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.”
Dr. Sharon Rozenblat, PhD said, “After many years of being actively involved in research and development of innovative dermatological treatments and being exposed to the many scientific articles and peer reviewed works and publications regarding skin conditions and diseases, I would like to emphasize my personal belief that OWC’s psoriasis results have been indeed unique in the most positive sense.”
Dr. Rozenblat continued by stating “while there is still scientific work to be done, as a scientist I am extremely excited to be part of OWC’s study that appears to be a highly possible breakthrough that can improve the life of psoriasis patients and, possibly, patients with other skin conditions“.
Mordechai Bignitz (Chairman and CEO) then said, “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.”
That was the end of anything “worth while”. That being said, I have this gut feeling we can expect the OFFICIAL breakdown of the Efficacy Test Results in the near future. I just can’t believe this is “all” we’ll hear from OWCP about Efficacy Results. They’ve been great about keeping us up-to-date without the fluff.
Tuesday, March 21st, should be a nice green day. However, we should run even higher on the details of the results. Obviously even higher yet when OWCP officially ships products.
But, my opinion still hasn’t changed about selling. No matter how high we run in March, April, or May… I feel we’ll keep getting updates that will send us higher and higher. I’ll gladly wait for the Capital Gains tax rate. Aside from the Psoriasis Cream, we definitely know there should be MORE skin cream products as well as Sublingual Tablet announcements for PTSD, Fibromyalgia, Migraines, etc. Then, let’s not forget the updates on Multiple Myeloma!
Translation: Patience will continue to pay more and more with each update. OWCP is comin’ for you, GWPH. 🙂