It’s been a while since I’ve had any time to sit down and write. So, thought I would give it a try today with OWCP. After all, I am still “Long” here and Bullish overall.
All shareholders are well aware of the deafening silence from our Israeli leadership. There hasn’t been an 8K since the end of December and most folks don’t care about OWCP presenting at a Conference — mostly because they want very specific types of news and because last years results weren’t as great as they wanted. But, if you really think about it, that’s largely because of the insane run to $3.23 that happened just a week or so prior to the Wall St Conference of 2017. I don’t know a single person that feels the run to $3.23 was justified in any way. We can only speculate that it happened because of the Marijuana ETF news, considering companies like CNBX ran the same day.
March 1st, 2017 — OWCP opened the day of the Wall St Conference by nose diving from $2.66 to $1.90 and then coming back up to close at $2.06. It just continued to drop at that point. But, again, it shouldn’t have been at $2.00 that early. I admit, I wasn’t thinking clearly either back then. But, months and months of learning patience made me realize some mistakes in my line of thinking with OTC stocks. Mistakes that I believe will make me better for future trades & investments and hopefully allows me to make others aware so they can ‘take profits’ or at least relax.
In my honest opinion, things for OWCP definitely got better throughout 2017. Not for the share price, but for the actual company and my confidence level of their future legit success — in due time. As of this writing, OWCP is still ‘worth’ $65 million without revenue. They started 2017 around $0.18. Wipe out the ridiculous, premature run and they were a pretty solid growth stock, right? 🙂
Dr. Stanley Hirsch is night and day more ‘legit’ and successful than, say, Ziv Turner. Dr. Hirsch has nearly 30 years of experience in the biotech related industry and he played a key role in Foamix Pharmaceuticals (NASDAQ: FOMX) getting a licensing deal with Bayer. I realize FOMX isn’t a giant in the industry, but their market cap has still managed to remain over $215M despite their annual loss.
Let’s forget about 2017 and think about the various things that could seriously be in the works and/or ready for PRs soon — maybe even just in time for the big conference. After all, OWCP likely will want to raise more money via private placement (the sale of restricted shares). Note: Most of the information below is from the Investors Presentation from November 2017 as well as in SEC filings.
- Topical Cream is “Market Ready”, which means a Joint Venture for manufacturing/distribution is possible. Though, we also should understand Medical Cannabis is a HIGHLY complex industry and these deals can take time.
- Development Roadmap: Page 10 of the Investors Presentation shows a roadmap going in two different directions. One for ‘Medical Cannabis Product Development’ leading to ‘Marketing and Distributing in Specific Markets’ and the other one for ‘Pharmaceutical Development’ going forward with the full regulatory pathway. My interpretation of this is that it’s not unreasonable to think they could be working on a deal to have the Topical Cream (and eventually the Oral Disintegrating Tablet and Nasal Spray) sold at dispensaries within states/countries where Medical Cannabis is legal.
- Topical Cream: Completion of Phase 1 Human Safety & PK/PD Study in Q1/2018
- Topical Cream: IRB approved Phase 2 Efficacy Study is indicated as something that’ll be started in Q1/2018
- Tablet: Phase I Safety Study initiation expected in Q1/2018. This is being tested with Fibromyalgia and Pain.
- Tablet: Phase 2A Efficacy Study (12 Week) planned for early Q2/2018.
- Nasal Spray: Pre-Clinical Safety PK/PD on Animals was indicated for Q4/2017 with a Phase 1 initiation for Q2/2018. This is also being tested with Fibromyalgia and PTSD.
- European Patent Register indicated an update on 2/16/2018 stating “Publication in section I.1 EP Bulletin” and under the “All Documents” section, the latest communication says their patent application has entered the European phase. This patent talks about Fibromyalgia.
Despite what some angry shareholders think (who, by the way, mistakenly bought after the big run and have been impatiently waiting with big, unrealized losses for 8 – 10 months) — I really am not “pumping” this (or any) stock. I just happen to be Bullish about the future and present facts that lead me to feel that way. Yes, I’ve owned my shares long enough to where I’ll enjoy the capital gains tax rates on my realized profit — whenever I decide to sell some. (I did buy some shares over $1.00, by the way. Whoops.)
Honestly, all I’ve ever tried to do is share the due diligence findings that I use as a means of deciding if I’m still comfortable holding and waiting. I’ve learned quite a bit about patience after February 2017. But, I also understand that deals aren’t put together in days or weeks. They can easily take months. This is based on my own experience of selling a small business last February and the fact that I’ve been working on expanding that business into another city for the past several months.
At the end of the day, I still personally think it’s very reasonable to feel there has been progress made behind the scenes and that we should hear some updates “any day”. I realize I’ve been saying that since December, but my opinion hasn’t changed. I, like you, have zero management experience within a biotech or medical cannabis research company to know how much more complicated and time consuming it can be to make “the right deal”.
Final Note: There has been a lot of circulating rumors and speculation of partnerships, funding deals, etc. That’s nothing new in the stock trading world — especially in the OTC. Always be cautious. You really have to have the mindset of “trust nobody”. Even me, for that matter. I, like you, am a human who is capable of mistakes. Sometimes I’m clearly expressing an opinion based on what I’m reading. So, again, always follow the links and read things for yourself to make your own interpretation. Google is your friend. Know what you’re investing in. It’s your money.
P.S. I’m “Bullish” going into the Wall St Conference on the assumption that we may finally hear some updates to generate excitement again.
Disclaimer: As of publishing this blog, yes, I still own shares in OWCP and I still have never been compensated in any way, shape, or form for writing blogs for OWCP (or any stock).