OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) shares were up 35.44% on Friday and flat in after-hours trading at $0.535. The company has a market cap of $77.44 million at 135.31 million shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.55.
OWC Pharmaceutical Research Corp is a medical cannabis research and development company that is engaged in the research and development of cannabis-based medical products for the treatment of multiple myeloma, psoriasis and fibromyalgia, as well as development of a cannabis soluble tablet delivery system that has applications for other indications.
Aside from that, it also provides consulting services to governmental and private entities to assist them with developing and implementing various medical cannabis programs. It works with GUMI to commercialize and market the Company’s Electromagnetic Percussion Device and research and development of Cannabis-based medical products for the treatment of a range of medical conditions and diseases, such as multiple myeloma, psoriasis, post-traumatic stress disorder migraines and a delivery system.
What sets OWC Pharmaceutical Research Corp apart from its competitors in the medical marijuana industry is that it conducts its R&D primarily in Israel, which is considered one of the best places in the world for cannabis research. “Unlike the U.S. government, the Israeli government has had few restrictions on doing research on cannabis, whether basic science or clinical studies,” noted an article on The Cannabist.
With that, OWC Pharmaceutical Research Corp is able to leverage its research division to tap the extensive network comprising some of Israel’s leading researchers, scientists, universities and hospitals, as well as cannabis breeders and extractors. Through this, they are able to study and test the effectiveness of different combinations of cannabinoids in the treatment of disease and chronic conditions with fewer restrictions.
The company has signed three research collaboration and license agreements with Sheba Academic Medical Center, Tel Hashomer, Israel. It has also signed a Memorandum of Understanding with Emilia Cosmetics Ltd., a large Israeli private label manufacturer, for the development, manufacture and marketing of a cannabinoid-based topical cream to treat psoriasis.
Last year, OWC Pharmaceutical Research Corp completed the development of a proprietary, cannabinoid-enriched sublingual tablet for the administration of medical cannabis. This tablet provides for the ingestion of virtually any dosage of medical cannabis with a sublingual delivery mechanism, whereby the compounds are absorbed directly into the patient’s blood through oral epithelial tissue. It also enables physicians to safely and accurately monitor the dosage and treatment of each individual patient, and the company is working to have this approved by the Israeli Medicinal Cannabis Unit under the Ministry of Health office for use in the country.
In November, OWC Pharmaceutical Research Corp gained access to additional financing. It filed a Form 8-K reporting that it had entered into a Reg S Unit Subscription Agreement with Michepro Holding Ltd, organized under the laws of Cyprus in which the investorsubscribed for and purchased the company’s securities for cash consideration of $300,000.