OWC Pharmaceutical Research Corp (OTCMKTS:OWCP): A Perfect Opportunity For Dip Buyers

The recent price action in OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) has been extraordinary. Shares are now almost $2 off last month's highs as profit taking set in and short sellers climbed on board.While the shorts might have won in the short term, the long term is where the real action is for OWCP and its shareholders. We believe that the recent pullback is a discount entry opportunity for those that have not gotten in yet as well as those looking to add to their position.What makes us so confident? It's because we at Insider Financial have been covering OWCP since October 4th of last year. Long before anyone else even knew about the company. It's been one of our biggest winners, with some of our subscribers still sitting on gains of 27,000%!!For those not familiar with the company and looking for a fresh exposure, OWCP, through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., 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 for the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks.OWCP’s primary asset, and the one that we think will drive the most near-term value, is a psoriasis cream. It is a topical compound designed to ensure the effective delivery and dosage of a proprietary cannabinoid-based topical cream, and it is basically in its final round of efficacy testing before it hits the shelves. The company expects to have it commercially available in the US and Israel by the end of the first quarter, with a sales push starting second quarter.Psoriasis is a big market to tackle. It is an autoimmune disease that causes red, scaly patches to appear on the skin, and can be associated with other serious health conditions, including diabetes, heart disease and depression. Skin cells in patients with psoriasis grow at an abnormally fast rate, causing a buildup of lesions that tend to burn and itch. While the real cause of psoriasis is not known, genetics are believed to play a major role in its development. According to the National Psoriasis Foundation, psoriasis affects 7.5 million people in the United States.Last month, OWCP received Institutional Review Board (IRB) approval to conduct safety testing on its proprietary topical crème compound for the treatment of psoriasis and related skin conditions. The approval follows the Company's February 1, 2017 8K filing announcing an extension to the size and scope of its efficacy study on the same compound, which began in November 2106.The IRB approved study encompasses the cream itself, as a delivery mechanism, as well as the proprietary psoriasis formulation, and is the first to formally make such claims with the NIH Registry. The double-blind study, which will be conducted on healthy volunteers at one of Israel's leading academic hospitals, is designed to demonstrate the safety of the formulation in treating psoriasis on human skin tissue. Administrators began soliciting for study participants as soon as approval was received. OWCP's Dr. Yehuda Baruch said:

"This approval is a significant milestone for OWC, where our mission is to bring the same rigorous approach common to traditional pharmaceutical development to the medical cannabis field. As we reported earlier this year, the results of our efficacy studies were so encouraging that management decided it was in our interest to extend the size and scope of the study to check the biological markers that had been generated to date, among other things. With each study we conduct, the ability of our formulation to provide relief for psoriasis-related symptoms to patients suffering from the condition are substantiated. The study that was just approved was designed to assure patients and caregivers that it is safe to use outside of laboratory conditions."

Currently trading with a market cap of $195 million, OWCP remains a top pick for us at Insider Financial. The company has huge potential with not only its psoriasis cream, but also its sublingual tablet and its multiple myeloma candidate. These are big markets and why we believe OWCP could be the next GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH).Be sure to check out our past coverage on OWCP here. For future updates on OWCP, sign up below!Disclosure: We have no position in OWCP and have not been compensated for this article.