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Sunday, November 27, 2022

What Happened to Cocrystal Pharma Inc (OTCBB:COCP)

Cocrystal Pharma Inc (OTCBB:COCP) is one volatile stock that made an explosive move up earlier this year off its $0.25 base to highs of $1.53 a share. Since then however the stock has been slowly drifting lower on decelerating volume.

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. The Company owns technology based on the work of their Chief Scientific Officer, Dr. Roger Kornberg and Dr. Raymond Schinazi.

Dr. Kornberg was awarded the 2006 Nobel Prize for Chemistry for his work to actually visualize a replication enzyme called RNA polymerase in action. Using techniques called protein cocrystallization and X-ray crystallography, Dr. Kornberg and his colleagues generated a three dimensional picture similar to the one at left of RNA being transcribed by RNA polymerase. Dr. Schinazi is a world class expert in discovering novel nucleoside therapeutics. He founded or co-founded successful antiviral companies including Triangle Pharmaceuticals Inc., Idenix Pharmaceuticals Inc. and Pharmasset, Inc.

All 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

Cocrystal Pharma is leveraging its expertise in these methods to identify and develop new antiviral compounds. Using these methods, COCP scientists are able to directly visualize how viral replication enzymes work, to identify key parts of these enzymes to target, to design compounds to block the function of these enzymes, thereby preventing viruses from replicating and to discover novel nucleosides and other compounds which inhibit viral replication.

COCP drug pipeline currently comprises five drug candidates for hepatitis C, influenza, norovirus, the common cold and dengue fever. These five viruses kill a combined 6 million people annually. All five of Cocrystal Discovery’s drugs would be orally administered in the form of once-a-day pills, making them easily distributable around the world- especially valuable in third world areas without consistent refrigeration in healthcare distribution.

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The Company got into the Ebola frenzy in October of last year when they announced they had 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.”

The last press release from COCP came on July 15 when they announced the appointment of Walt Addison Linscott, Esq. as General Counsel and Corporate Secretary.

Most recently, Linscott served as Global Strategic Legal Advisor for Thompson Hine, LLP, providing strategic legal advice and business guidance to senior management and Board of Directors of multinational companies focused on the development of consumer products and human health products in complex emerging markets, the U.S. and European Union.

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COCP transformed earlier this year to one of the top most traded stocks on the entire bb stock exchange running off its $0.20 base to highs of $1.53. The Company has some very big names behind it and looks to be making some big moves. Clearly management and Dr. Phillip Frost know a lot more than anyone else and they are busy buying heavily here. Talk about a huge vote of confidence. 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.

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