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OWC Pharmaceutical Research Corp Letter to Shareholders
5 minutes agoPR Newswire
Related Investments
OWC Pharmaceutical Research Corp
Last 3 Months
RAMAT GAN, Israel, July 24, 2018 /PRNewswire/ --
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), a developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, today issued a letter to shareholders.
(Logo: http://mma.prnewswire.com/media/458036/OWC_Logo.jpg )
To our Shareholders,
The last period has been an important time for re-assessing our corporate strategy, consolidating our company and strengthening our abilities to execute our strategy. We believe that the strategic re-assessment that we have carried out over the last few months will be critical to our success.
The field in which we operate is increasingly crowded with unproven products. We believe that the companies that will succeed in such a market, will be the ones which have invested their resources in providing validated proof of efficacy and safety for their products. In the past, we have spoken of "market ready" products. This definition related to formulated products which were potentially marketable without the validation that I have eluded to above. We have made the decision that we do not want to compete in this undifferentiated market. Whilst in the short term, this will delay our commercial development, in the long term, this should be strongly value generating for our company and our shareholders.
In order to undertake this positioning, it was important to strengthen our company financially. In May, we announced the closing of the largest funding in the history of our company - a convertible preferred stock offering for US $5 million to an institutional investor. This funding will provide us with the runway to carry out our planned clinical programs. With respect to strengthening our team, we announced the recruitment of Dr. Oron Yacoby Zeevi, formerly CSO at Neuroderm, as our Chief Scientific Officer in February and we are currently planning additional senior personnel additions to increase our capabilities in clinical development and testing.
In December 2017, we announced that we had received a new permit from the Israeli Medical Cannabis Agency (IMCA) to proceed with safety studies for our cannabis soluble tablet delivery system. We subsequently received Institutional Review Board (IRB) approval from the Sourasky Medical Center in Tel Aviv and from the central Israeli Review Board to conduct these studies. In parallel, we announced the completion of the pre-clinical development of our next generation, orally-disintegrating tablet, the subject of the safety studies described above, and the initiation of these studies is now imminent. This tablet is intended to be a replacement for smoking cannabis in chronic pain syndromes. We also announced late in June that we had completed the first stage of the safety study of our cannabis cream. This initial stage comprised the single dosing of healthy volunteers. We are now waiting final volunteer license approval to initiate the second part of this trial, which comprises the twice daily dosing of healthy volunteers for 6 weeks.
With respect to our timeline going forward, key events till the end of this year include the following:
Completion of the cannabis cream safety study - Q4 2018
Initiation of the Oral Disintegrating Tablet safety study - Q4 2018
Completion of the Nasal Spray animal safety, pharmaco-kinetics and pharmaco-dynamics studies - Q4 2018
Whilst we understand that investors are keen to receive news flow, our clinical programs are complex to initiate in that they require multiple levels of approval from different authorities and the studies themselves are time consuming. These clinical programs are however key to our strategy and our positioning as a company dedicated to the pharmaceutical development of cannabis-based products to meet patients' needs.
On the commercial front, we have continued our business development activities in key future markets for our products. We will announce more specific developments in this area as soon as definitive agreements have been finalized.
The funding that we have obtained provides us with the resources to carry out our research and development programs and to continue our corporate and commercial development. We look forward to updating you on our progress in the coming months.
Yours sincerely,
Dr. Stanley Hirsch,
Chairman of the Board
About OWC Pharmaceutical Research Corp.
OWC Pharmaceutical Research Corp., through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., (collectively 'OWC' or the 'Company') conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines.
OWCP is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. All OWCP research is conducted at leading Israeli hospitals and scientific institutions and led by internationally renowned investigators. The Company's Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids and cannabis-based products for the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks.
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3 million shares sold at 6k and the pp went down 10%????
https://www.nj.com/marijuana/2018/07/nj_just_effectively_decriminalized_weed_possession.html.who is elling at his price,now 98% investors loosing $$
Local police need to take the first step.MEMO from CHIEF of DEPARTMENT,we will show the way to prohibit personal use of phone in the police car.Then and only then will enforcement and fines be enforced.The administrator " chief" will monitor and police will enforce as they will be leading by example.Save Lives Please.
no happy hour for you.lost weeks gains in one day.
bag holders left cant afford to sell for huge loss in owcp
Facts are 99% of us are losing money.why? we invested in a Israel company several who have a long history of fraud pump dump and deceit.People on this site do a good job of investigating and research,however owcp is inept and doing their best to not let anyone know what is going on.We now are at a new yearly low ,with no bottom in site.How can you trust management ,were is the letter promised ,were is the excuse why the letter is delayed.Not the kind of people I want to make excuses for.
DISGUSTED with owcp! will not invest another penny or inform anyone.They had a proven pump and dump on their team.Now we wait 2 years for real development and research. Biggest MISTAKE you can invest in.Wait for proof of progress.When will the bleeding stop????
something is wrong here,WTF is going on????
No research is available for OWC Pharmaceutical Research Corp at this time
There is no hope left, owcp has extinguished everything ,let it go down to 0 and end it.They suck ,been here for too long waiting for nothing,lost over 85% of original investment.All BS ,stay in big companies and grow your investments the right way .Will check whats left of my investment in 2 years .
death by a thousand cuts.near year low
SB said july 4th .if u cant take him at his word ,where I come from he is a loser. sell everything
when ever I post owcp is a s--t show it communicates
my thoughts also.this could be the last straw if this expectation is BS. My money is locked up in this company for over a 1.5 years.I hope and pray we have some positive movement in the price soon.
why is it red? with all this good news
how will this work with uber or other taxis if they cant see the screen.????
No research is available for OWC Pharmaceutical Research Corp at this time
No research is available for OWC Pharmaceutical Research Corp at this time
Down .27 to .23 in 1 month.June last year .85 .Time for OWCP to say something,where is the bi yearly letter?, the test results,no news available is getting old.Lost all hope and interest.
sorry Shelly, posted already
Monday, May 14, 2018
Big Supreme Court win for states' rights could have important marijuana reform echoes
By Douglas A. Berman Share
The US Supreme Court handed down this morning an important case about the relationship between federal prohibitions and state laws in Murphy v. NCAA, No. 16–476 (S. Ct. May 14, 2018). (available here). The case is directly about sports betting laws in New Jersey, but the final substantive paragraphs of the Court's majority opinion (authored by Justice Alito) should make clear why marijuana reform advocates will be heartened by the ruling:
The legalization of sports gambling is a controversial subject. Supporters argue that legalization will produce revenue for the States and critically weaken illegal sports betting operations, which are often run by organized crime. Opponents contend that legalizing sports gambling will hook the young on gambling, encourage people of modest means to squander their savings and earnings, and corrupt professional and college sports.
The legalization of sports gambling requires an important policy choice, but the choice is not ours to make. Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own. Our job is to interpret the law Congress has enacted and decide whether it is consistent with the Constitution. PASPA is not. PASPA “regulate[s] state governments’ regulation” of their citizens, New York, 505 U. S., at 166. The Constitution gives Congress no such power.
May 14, 2018 in Court Rulings, Federal Marijuana Laws, Policies and Practices, Who decides | Permalink | Comments (0
some politicians trying to help our vets https://taskandpurpose.com/va-medical-marijuana-research/
trump election threat to big pharma will not change drug prices.pharma up 3% Walgreens and others up 4% after speech on friday. Lobbying curtails any meaningful changes to price of drugs.
I,m down $45,000 and long .We need big news or this will bleed down lower.
fact ,down 10% last week .
down over 10% for the week
thanks feller good read ,like to see the response from the judge.
no news available ever.
Gary u know what ur talking about ,can u contact OWCP and find out what direction we are headed???thanks
Gary is right if OWCP changed to long term development .This company is a fraud.
if you want to wait 2 years to get money back this is a great place. OWCP could care less about their investors,this is a hobby for them no weekends or holidays ,work when and if you want.No information, no news, no production ,OWCP is toast ,no new investors, 85% flippers ,invest in a real stock dont inform any friends or family ,they will hate you.OWCP and their management team suck.imo
another SAD day for owcp
six more weeks to hear owcp say same shit.
No full time employees,sounds like a hobby.What a waste of time and money.LIES LIES and more delays,we are in the 2 quarter of 2018 and still NOTHING.What a HUGE disappointment.With the history of OWCP who in their right mind will invest in this stock .Looks and feels like a scam,if it did not have big names {who work part time}you would agree. Management needs to develop something NOW otherwise no one will invest.Same old shit the peeps who have been here for over a year are pissed. Just want to get half my money back and get out.
What great news? why is the market not buying into the great company at these cheap prices.20 . All the great news coming in the very near future,next quarter ,or anyday now??? Why more selling than buying.Today we all lost money again.
I and others have been here for a year and believe in OWCP and what they are trying to provide.However we are also here to make money. Others may have started before the big run up ,and still have a positive investment.The majority are loosing their investment, also involved family members and friends.This is a difficult situation to say the least .OWCP has suffered 2 significant set backs outside the research. First J Sessions in January and J Friedland last month.We are frustrated by OWCP and slowly bleeding down to .20 This is exaggerated by the lack of news and delays in 2017.Please understand we do not short or hate the stock but are desperate for hope.We may have been short sighted and did not realize this was a three year investment .On behalf of all investors I wish OWCP success soon.