I don't know why the company hasn't said more, they're certainly not hyping what's happening to drive the share price up, but why not an update from Hirsch. I suspect that they're waiting for something, if so, I'm hoping that they can tell us the Phase 2 trial has begun.
This is purely speculation on my part, but if one thing is clear it's that the company, in spite of all sorts of complaints from investors, just keeps working toward getting patents approved and product trials established.
I don't believe they'll go much further with the sublingual tablet unless they're reasonably convinced they'll gain a patent for it. In hindsight, the planning of a Phase 2 for the cream was an indication they believed they'd get that patent.
Most biotech have the same complaint from investors, the companies never provide enough information to satisfy investors, OWCP is no different. Where they're different is in the area they're working in, the cannabis market, as the law is still not clear about using it.
I may be wrong, but I believe if you have FDA drug approval your product can be sold anywhere in the U.S., so even though THC is illegal in many states, approved products may be prescribed there. I believe GWPH's products currently have THC and should be available everywhere, and if I'm right about that, the same will be true or our cream, and hopefully other products when they receive FDA approval. This won't happen for a couple years at best, but it's potentially a multi-billion dollar market, it will be worth the wait.
The company should release quarterly and annual results early March, as I believe they get an extra month to put together annual results. If nothing new has been released by then, I would certainly hope that the Annual Report provides guidance on the path forward from here.
Gary
