The market £7.4mln market capitalisation of Oxford Cannabinoid Technologies Holdings PLC (LSE:OCTP, OTCQB:OCTHF) “reflects the weak market for earlier-stage biotechnology stocks” rather than its inherent potential.
That’s according to Dr John Savin, an analyst with Proactive Research, whose latest note points to two key and imminent inflexion points – phase I trials of its two major assets.
OCT461201 (201) is being developed to relieve peripheral nerve pain caused by cancer chemotherapy (known as CIPN), while OCT130401 is a fast-relief inhaled therapy for a sudden onset facial-pain condition called trigeminal neuralgia, or TN.
“In our view, this is an interesting opportunity since the major lead project, 201, is heading for clinical development in early 2023 with safety and data in spring 2023,” said Savin in his note.
“The indication, CIPN, has no effective current treatment. With clinical data, this novel product aiming for an underserved and accessible market could be an attractive partnering opportunity. TN offers an orphan pain therapy market.”