OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) is a work in progress.
In spite of its management’s efforts to grow the company, the market is still unsure of its potential. This has led to a stability in its price, fluctuating just between $0.4 and $0.6 over the last year. In this piece, we uncover details of the company’s recruitment of one of the most recognized experts in the pharmaceutical industry.
Here is the stock’s price movement for the last year:
OWC Pharmaceutical Research Corp. was formed in March 2008 and has its head office situated in in Petach Tikva, Israel. Through its fully owned subsidiary, the firm operates in clinical trials and medical research. The firm also carries out research and development of cannabis-related pharmaceutical products in treating PTSD, fibromyalgia, myeloma, migraines, and psoriasis. It also provides consulting services along with its project to develop a cannabis soluble tablet delivery system.
Along with this, the firm is currently setting up special delivery systems for the effective prescription and delivery of medical cannabis. All of its research is carried at the major Israeli hospitals and scientific centers and led by globally renowned researchers. Its research unit is currently carrying out clinical trials to assess the level of effectiveness of cannabis-based products and cannabinoids in treating numerous medical challenges, while its advisory/consulting unit is committed to aiding companies and governments in navigating complicated global cannabis regulatory frameworks.
For further information on the company, you can take a look at our previous post here.
Just last week, the firm publicly announced that it had appointed a new Chief Scientific Officer (CSO) in the person of Dr. Oron Yacoby Zeevi.
The new CSO, Dr. Yacoby Zeevi has worked in the scientific industry for over twenty years, operating with both private and publicly quoted companies within the biopharmaceutical space. She worked for a clinical-stage medical firm, Neuroderm to develop enhanced medications for disorders in the central nervous system as recently as 2008, where she filled the position of Vice President of Research and two years later was promoted to Vice President of Research and Development.
Later in October 2016 up until she left the firm for OWCP, she served in the role of Chief Scientific Officer. In July 2017, Neuroderm was acquired by Mitsubishi Tanabe Pharma for just over $1.0 billion.
Besides her plenty experience, Dr. Yacoby Zeevi also known for her invention of numerous patents with over 50 issued and others still pending. Her proficiency lies in scientific research and industry-oriented innovation as well as coordinating and quickening the development of new concepts through chemistry and manufacturing controls, intellectual property development, Research & Development proof of concept, regulatory affairs, early efficacy and safety trials and market landscape mapping in areas of unmet health needs. She attended Ben Gurion University located in Be’er Sheva, Israel, from which she acquired her doctorate degree in microbiology and immunology. She has another doctorate degree in Veterinary Medicine which she attained from the Hebrew University of Jerusalem.
Dr. Yehuda Baruch is to undertake the position of Chief Medical and Regulatory Officer of the OWC Pharmaceutical Research Corp. and she expressed her pleasure that the firm has gotten to a stage in its growth where it can attract scientists of the highest caliber and have the type of background of Dr. Yacoby Zeevi. It is highly anticipated that her knowledge and experience and will easily help the firm in its pursuing its objectives.
Dr. Yacoby Zeevi herself outlined her pride in joining OWCP and working with its exceptional management group to support the firm in its bid to move to higher levels. She added that OWCP had accomplished a lot in its clinical development and she would be looking forward to supporting this growth.
CEO, Mr. Mordechai Bignitz added that he was proud and excited to have Dr. Zeevi on board with the OWCP team and undertaking the role of CSO. Her very vast development and pharmaceutical discovery knowledge along with an outstanding industry reputation added significantly to the success of her previous employers.
For 2017, revenue amounted to $50,000, in over three operating periods. It is anticipated that in years to come, the firm will record higher sales figures.
In the same period, research and development costs dropped by nearly 50%, while selling, general and administrative costs rose by the same percentage. It is hoped that the firm will be able to impose further control on its rising cost or boost its revenues to ensure profitability. However, it remains a regular trend for developing companies to be unable to generate revenues while still incurring costs.
The net loss from operations and net loss amounted to $2.1 million and $2.3 million respectively for the period.
OWCP has a lot of potential but has some work to do before it begins to produce positive financial results.
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Disclosure: We have no position in OWCP and have not been compensated for this article.