This morning Odyssey Health Inc (OTCMKTS:ODYY) may be the one to track if you are looking for stocks that may come into focus among investors today. The company, which is involved in the development of novel and life-enhancing products, was in the news yesterday following a major new announcement.
Trading Data
On Thursday, ODYY stock fell 0.45% to $0.1789 with more than 155K shares, compared to a volume of 94K shares. The stock moved within a range of $0.1700 – 0.1940 after opening trade at $0.1940.
Odyssey Health Achieves Positive Safety Outcomes for Concussion Drug in Multiple Ascending Dosing Trial
The company announced yesterday that it had been successful in completing the safety measures related to the Multi-Day Ascending Dosing for the 1st Phase clinical trial. It was a significant new announcement from the company and one that may bring the Odyssey Health stock into focus this morning among investors.
The trial in question is with regards to the administration of the company’s product PRV 002. It is a novel new medicine from Odyssey Health that is meant for the treatment of concussions. During the course of the trial, the product is going to be administered to healthy volunteers. In the Multi-Day Ascending Dosing Cohort 1, the product had been found to be well tolerated and safe.
Cohort 1 had been conducted by the leading clinical research company Nucleus Network. It is now going to be interesting to see if the stock can manage to come on to the radars of investors today.
Key Quote
“After reviewing the data from MAD Cohort I, I have strong confidence that PRV-002 will continue to show safety during the final, high dose MAD portion of Phase I clinical trial. We have unanimously approved the start of MAD Cohort II. The overall low levels of PRV-002 in the blood support 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, but the drug will also likely have fewer potential side effects.” commented Dallas Hack, MD, member of the Safety Review Committee.
Technical Data
ODYY stock is below the 20-Day and 50-Day Moving averages of $0.18 and $0.21 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.35. The company has a total market capitalization of $13.95 million. The stock is down 65% over the past 6-month.
