Cocrystal Pharma Inc (NASDAQ: COCP) was one of the few stocks making big gains as the overall markets saw their biggest decline in years. Cocrystal Pharma is green again after the Company announced it has initiated its previously announced Coronavirus program with KSURF.
COCP has been extremely volatile since February 24 when they initially announced the license agreement with Kansas State University Research Foundation (“KSURF”) to further develop certain proprietary broad-spectrum antiviral compounds for the treatment of Norovirus and Coronavirus infections. Coronavirus is currently spreading around the world infecting over 110,000 people so far with the death rate approaching 4000.
Cocrystal Pharma Inc (NASDAQ: COCP) is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target influenza viruses, hepatitis C viruses, coronaviruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize winning expertise to create first- and best-in-class antiviral drugs.
Cocrystal’s technology generates a 3-D structure of inhibitor complexes at near-atomic resolution providing the Company with the ability to identify novel binding sites, which allows for a rapid turnaround of structural information through highly automated X-ray data processing and refinement. By utilizing this technology, Cocrystal is able to develop compounds that specifically target enzymes that are important to viral replication. The Company is currently leveraging its unique structure-based technologies to develop antiviral drugs for hepatitis C, influenza and norovirus.
COCP initially jumped on the coronavirus bandwagon back on February 24 it has entered into a license agreement with Kansas State University Research Foundation (“KSURF”) to further develop certain proprietary broad-spectrum antiviral compounds for the treatment of Norovirus and Coronavirus infections. The agreement gives Cocrystal an exclusive, royalty-bearing right and license to certain antiviral compounds for humans covered by KSURF’s patents. Cocrystal intends to pursue research and development of theses antiviral compounds, including preclinical and clinical development. This license advances the Company’s antiviral programs significantly by providing potent compounds for further development.
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On March 5 COCP announced it has initiated its Coronavirus program. Cocrystal recently entered into a license agreement with KSURF to further develop certain proprietary broad-spectrum antiviral compounds for humans to treat Norovirus and Coronavirus infections. Cocrystal intends to pursue research and development of theses antiviral compounds, including preclinical and clinical development. This license advances the Company’s antiviral programs significantly by providing potent compounds for further development.
COCP CEO Dr. Gary Wilcox stated: “Following our acquisition of patent rights and know-how from KSURF and our recently completed financing, we are aggressively pursuing the development of novel antiviral compounds for the treatment of Coronavirus infections using our established proprietary drug discovery platform. Given the global threat of COVID1-9, our primary goal is to advance our Coronavirus program into preclinical development. We will seek opportunities for collaborations as we advance our programs.”
— Cocrystal Pharma (@CocrystalPharma) February 24, 2020
Microcapdaily has been covering COCP for years; back on October 30, 2014 when COCP was trading on the over the counter markets we wrote: “COCP” has seen an exploding in price and volume after the Company announced on October 23 that they have developed a new Ebola Screening Technology. The recent upswing in price and change of momentum is welcomed by investors in the Company how have endured close to a year of steady downward drift from the $0.88 highs the stock made at the end of last year. We also wrote on October 2, 2018: “The excitement on COCP is about billionaire Dr. Phillip Frost 100 million shares stake in the Company; the man is a self-made billionaire with a keen eye on bb’s with big futures and he regularly receives nation media attention from the likes of Bloomberg, CNBC and Barron’s. For more on Dr Phillip Frost check out MBVX and DRNE“
Currently trading at a $55 million market valuation COCP has $5.9 million in the treasury, very little debt with $2 million in current liabilities and small but growing revenues reporting $6.1 million in sales for the 9 months ended September 30, 2019. Just like Ebola or Zika but much more so coronavirus has breathed new life into many struggling biotechs in recent months and Cocrystal Pharma is no exception. During the Ebola crisis COCP popped because the Company said they were developing a new Ebola Screening Technology. COCP is a fraction over its all-time lows, has liquidity and a history of big moves, has a lot of eyes on it. We will be updating on COCP when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with COCP.
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Disclosure: we hold no position in COCP either long or short and we have not been compensated for this article.