This year has been very eventful for capital markets, and investors have suffered massive losses as markets dipped. The bear market continues to be driven by supply chain disruptions and inflation, but there are stocks investors could watch that promise massive potential once the market recovers. Odyssey Health Inc. (OTCMKTS:ODYY), which dropped 10% in the last session, is one such opportunity for investors looking to buy the dip.
Trading Data
On Tuesday, ODYY stock moved down 10% to $0.1895 with more than 137K shares, compared to its average volume of 60K shares. The stock moved within a range of $0.1775 – 0.2344 after opening trade at $0.21.
About Odyssey Health
Odyssey Health, formerly called Odyssey Group International, is a medical firm that focuses on developing life-enhancing medical offerings. The company’s corporate mission is to create and commercialize novel technologies that offer effective medical solutions. Most importantly, it is focused on technologies with the potential of offering superior clinical utility, providing considerable market value for partners and shareholders, and with considerable market potential.
Odyssey Health, Inc. Successfully Completes Phase I Single Ascending Dosing for Intranasal Concussion Drug
The company announced that it had completed all three cohorts of its Phase 1 Single Ascending Dose (SAD)clinical study, which involves PRV-002 administration on human health participants. PRV-002 is the company’s developmental stage novel product for concussion treatment. The drug was well-tolerated and safe in the SAD clinical trial. Concussions are an “unmet” medical need that has a huge global impact. The likelihood of developing Alzheimer’s Disease or other neuropsychiatric illnesses can be considerably increased by just one concussion.
Dallas Hack, a Safety Review Committee member, said that with the SAD analysis complete and Cohort III data reviewed, they are confident that PRV-002 will continue showing safety throughout the Multiple Ascending Dose (MAD) parts of Phase I clinical study in which participants are given treatment once daily for five days in a row. Hack said that they had all agreed that MAD Cohort I should begin.
The company is planning to meet the FDA to discuss Phase I Study results. With the help of the site’s clinical administration and the Company’s Medical Advisors, phase II study locations are being chosen, and research designs are being developed. The global concussion treatment was worth approximately $6.9 billion in 2020 and is expected to hit $8.9 billion by 2027.
Key Quote
“After reviewing the data from Cohort III and completing the SAD analysis, I have strong confidence that PRV-002 will continue to show safety during the Multiple Ascending Dosing (MAD) portion of the Phase I clinical trial where subjects are treated once daily for five straight days. We have unanimously approved the start of MAD Cohort I. I am especially excited to see the overall low levels of PRV-002 in the blood supporting the hypothesis that more drug is getting to the brain itself when administered with the intranasal device. If this turns out to be the case, not only can the targeted effects of the drug be more efficacious the drug will likely have less potential side effects,” commented Dallas Hack, MD, member of the Safety Review Committee.
Technical Data
ODYY stock is trading below the 20-Day and 50-Day Moving averages of $0.24 and $0.27 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.37. . The company has a total market capitalization of $16.11 million. The stock is down 18% over the past month.
