Cocrystal Pharma Inc (OTCBB:COCP) has been making higher highs and higher lows since its $0.25 lows back in August; the stock recently saw a high of $0.60 before a bear raid dropped it to lows of $0.41. Since then COCP is moving up steadily and investors are waiting for a break over $0.60 for confirmation of the next let up.
COCP was incorporated as International Surf Resorts, Inc in December 2006 with a plan of becoming an Internet based provider of international surf resorts, camps, and guided surf tours. In March 2011 BioZone Pharmaceuticals, Inc. reverse merged into the shell and became the surviving entity, soon after they changed their name to Cocrystal Pharma Inc .
Cocrystal Pharma Inc (OTCBB:COCP) is a pharmaceutical company seeking to discover novel antiviral therapeutics as treatments for serious and/or chronic viral diseases. Cocrystal Pharma employs unique technologies and Nobel Prize winning expertise to create first- and best-in-class antiviral drugs. These technologies and our market-focused approach to drug discovery are designed to efficiently deliver small molecule therapeutics that are safe, effective and convenient to administer.
Cocrystal has previously received strategic investments from Teva Pharmaceuticals, OPKO Health and The Frost Group. OPKO Health and The Frost Group together own approximately 48% of Cocrystal.
In August COCP reported financial results for the second quarter ended June 30, 2014. Select financial and operational highlights include:
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As described in the Form 10-Q, the Company had as of June 30, 2014, $9.8 million in cash and marketable securities, an increase of $8.8 million from December 31, 2013. Operating expenses for the three months ended June 30, 2014 were $1.4 million compared to $1.0 million for the same period in 2013. For the six months ended June 30, 2014 operating expenses were $2.9 million compared to $2.1 million for the same period in 2013.
On October 23 COCP announced that it has developed what it believes to be the first high-throughput screening technology for inhibitors of a key essential Ebola virus gene product. According to Cocrystal Chief Scientist, Dr. Roger Kornberg, “We are very excited to have cloned the gene, purified and characterized its product, and integrated the gene product into our high-throughput platform. We believe we are the first group to have developed a novel screening methodology that can accurately identify inhibitors, which are potential drug candidates.”
Obviously this is massive news for COCP and represents a significant breakthrough for the Company which has been struggling since the name change from Biozone Pharmaceuticals, Inc. in April of this year.
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Conclusion: COCP is exploding upwards after the Company announced they have developed a new Ebola Screening Technology. This represents a significant breakthrough for the Company; Ebola is spreading quickly in West Africa with over 10,000 ppl already infected and 5,000 dead. Recently the virus has landed on U.S soil turning up the heat that much more.
Currently trading at a $50 million market valuation COCP represents a compelling technical setup with significant news as catalyst. This is a Company that looks to be working hard behind the scenes and the stock clearly deserves to be on speculators watch lists and might just provide a spectacular trade opportunity in the coming weeks and months ahead!
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Disclosure: we hold no position in COCP either long or short and we have not been compensated for this article.