Longer on the dance floor, very confident and funded until the end of 2023 for Oxford
“…We are now entering a period of stability and an exciting time for shareholders where the news is going to be coming pretty thick and fast as we enter Phase One…”
When you talk about Oxford Cannabinoid Technologies Holdings Plc you best make sure your teeth are firmly in and you’re well lubricated because not only is the company name a bit of a tongue twister, but the new chief executive’s surname and the lead drug development programme will give your embouchure a work out.
Interim CEO Clarissa Sowemimo-Coker says pharmaceutical companies aren’t very good at naming compounds that trip off the tongue. In Oxford Cannabinoid Technologies’ case, from now on referenced by its ticker OCTP, the lead candidate is OCT461201 (aka Programme One) and headed for clinical trials with human and not mouse recruits in the first quarter of 2023.
If successful it will target the pain that comes with chemotherapy procedures that sees many patients abandon treatment because the side effects are unbearable.
Sowemimo-Coker’s focus is on this Phase One trial, and says news will come thick and fast in the early part of the new calendar year. She speaks with confidence because she’s already been with the company for four years. Her most recent role in the business was Chief Operating Officer and her tenure as boss she hopes will be one of calm replacing the distractions of boardroom squabbles of the past. She talks of stability.
The company is financially secure with enough funds for twelve months, and Sowemimo-Coker reminds shareholders about value accretion that comes with successful trials. “The important thing for me is that we get ourselves through this phase one, which moves us from pre clinical pharma company into the clinic, which is a big milestone for the company and for our shareholders.”
“As we move through those milestones, we accrete value for the company. So there’ll be a little inflection point as we pass phase one. There’ll be a bigger inflection point as we pass phase two.”
And as for Sowemimo-Coker’s prefix of ‘interim’ CEO, it’s unlikely this will remain the case for a company that is seeking stability and constancy, and as Clarissa shares with Sarah Lowther she doesn’t “have any plans to go anywhere.”
Watch Clarissa (below) talk to Proactive London’s Thomas Warner about the company’s prospects for 2023.
OCTP’s Chief Scientific Officer Dr. Valentino Parravicini (below) talks to StockBox’s Mark Fairbairn about the operational pathway of the business.
Access Proactive Research’s analysis on the company
Follow the company on Twitter @OxCanTech
The author was remunerated but does not hold shares in the company