Awakn Life Sciences Corp. (OTCMKTS: AWKNF) (NEO: AWKN) (FSE: 954) is a revenue-generating biotech company that has completed Phase 2 and is moving into Phase 3 for its lead program. With numerous price targets well above the current share value from respected firms, AWKNF is a must-see stock for serious investors.
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WHAT YOU NEED TO KNOW ABOUT AWKNF
- AWKNF’s Lead program Ketamine-assisted therapy for Alcohol Use Disorder ‘AUD’ Has Completed Successful Phase 2 Clinical Trials
- USD$10 Price Target and ‘Buy’ Rating from HC Wainwright & Co.
- CAD$8 Price Target and ‘Buy’ Rating from Stifel Equity Research
- AWKNF currently trades just above 50 cents per share, investors at this level would receive a hefty profit at either price target.
- Huge catalytic events are on the horizon which could send the stock price much closer to these targets rather quickly.
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Approximately 400 million people, globally, suffer from Alcohol Use Disorder ‘AUD’ and over 3 million people die of alcohol abuse every year globally.
Awakn Life Sciences is developing breakthrough psychedelic-assisted therapies to combat this colossal health issue.
AWKNF’s lead program is called Project Kestrel which is based upon Ketamine -assisted therapy for Alcohol Use disorder and is now moving into Phase 3. For a biotech to be moving into Phase 3 with such a small market cap is unheard of .
AWKNF’s Lead Program Milestones
- March 2021, Announced an exclusive license agreement for the Ketamine-assisted therapy for AUD treatment.
- January 2022, Successful completion of Phase 2 with groundbreaking results. The findings showed that ketamine combined with the proprietary therapy, resulted in total abstinence in 162 of 180 days in the following 6-month period, achieving an increase in abstinence from around 2% prior to the trial to 86% post trial. The results for relapse at 6 months, showed that the Ketamine and therapy group’s risk of relapse was 2.7 times less than the placebo plus alcohol education group.
- July 2022- Secured funding from Innovate UK to identify the quickest and most cost-effective route to market in both the UK and the US.
Awakn has started planning and intends to initiate a Phase III trial in the UK in 2022 as a prelude to initiating a further Phase III trial in the US thereafter.
Nexus of Opportunity
The US is the largest AUD market in the world, alcohol treatment is estimated to be a ~$35 Billion a year business. There is an even larger underserved opportunity with 35 million people suffering from AUD in the US each year, out of which, only 8% get treated.
The UK is not far behind joining the US as 2 of the top 8 major markets most effected by Alcohol Use Disorder and thereby are the largest revenue opportunities for treatment of AUD. Total market expenditure in these regions comprising research analysis on drug pipeline, unmet needs, R&D expenditure, marketed products, and key players among other approaches pertaining to the treatment crossed USD$6.4 Billion in 2020, and is projected to reach USD$13.18 Billion in 2030. (Research Nester)
The Psychedelic drug market is also projected to eclipse $10 Billion within the next 10 years, Research and Markets estimate the market will reach $10.75 billion by 2027.
AWKNF is positioning itself to take advantage of these ample opportunities.
Catalysts That Could Catapult AWKNF’s Valuation
- PHASE 3- Regulatory and ethics approval for Phase III clinical trial for Ketamine-Assisted Therapy for the Treatment of Alcohol Use Disorder
- Grant Awards- Awakn has applied for several grants, one of which the company expects to receive a response on by end of Q2, and if successful, would cover a 66% of the cost of Phase III clinical trial
- Increased Market Opportunity- Completion of the behavioral study of Ketamine in Gambling addiction, a condition that effects a reported 10 million Americans (Recovery Village).
- Commercialization- Therapeutics Commercialization through launching licensing partnerships utilizing the company’s intellectual property (IP) Ketamine-Assisted Therapy for Treatment of Alcohol Use Disorder (“KARE”) in the US and Canada
- New Clinics- Establishing additional Awakn Psychedelic-Assisted Psychotherapy Clinic(s)
- MDMA AUD Treatment Phase 2- A successful Phase 2b trial with MDMA for the treatment of AUD
Any of the aforementioned catalysts could give AWKNF shares significant bullish momentum.
AWKNF’s Balance Sheet Should Allow Continued Growth
With any biotech in the clinical phases, financing can be the ultimate “yea, but”. Lack of funding can quickly destroy any hope of going to market.
Also, as noted earlier, last week the company secured funding from Innovate UK to identify the quickest and most cost-effective route to market in both the UK and the US for Awakn’s lead program. Innovate UK is the UK’s national innovation agency which provided the funding in an initiative delivered jointly by UK-based innovation consultants, CPI and the Association of British HealthTech Industries.
Awakn’s activities will be delivered in collaboration with Veristat, a global Clinical Research Organization (CRO) that specializes in accelerating client therapies through the clinical development process into regulatory approval and commercialization. Veristat supported marketing applications for 12% of all US Food and Drug Administration (FDA) Novel Drug Approvals in 2021.
Finally, the company has applied for several grants that will cover most of Phase 3 if secured, meaning that could be the largest potential catalyst to monitor in the near term.
KEY TAKEAWAYS
There’s a reason a respected research firm HC Wainwright & Co. has placed a $10 price target on AWKNF.
Its lead therapy is approaching Phase 3
The fact is, AWKNF is much further along than many of its psychedelic competitors, but trading at a discount due to its lack of notoriety. As Awakn Life Sciences garners more awareness, its upcoming catalysts could make early investors extremely happy.
Start your research today.
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