Home Top Movers Why Cocrystal Pharma, Inc. (COCP) stock is soaring today?

Why Cocrystal Pharma, Inc. (COCP) stock is soaring today?

Shares of Cocrystal Pharma, Inc. (COCP) were soaring in the pre-market today following the announcement of an update regarding COVID-19 antiviral discovery and development programs by the Cocrystal stock. COCP stock price saw a surge of  63.71% to reach $2.03 a share at the time of this writing. COCP stock performed well in the previous trading session and went up by 5.08% recording a $1.24 per share price at the previous closing. Let’s discuss more about this stock.

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Cocrystal Pharma Efforts against COVID-19

Cocrystal Pharma, Inc. is a biopharmaceutical company engaged in the development and discovery of therapeutics for the treatment of chronic viral diseases. COCP stock started its COVID-19 program back in March 2020 and since then, it has expanded that program with additional development and licensing. COCP stock on May 3, 2021, announced the update related to the development of broad-spectrum antiviral candidates that are used in the battle against COVID-19. Here is the brief detail of COCP lead candidates.

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Lead candidate CDI-45205

CDI-45205 is the lead candidate among protease inhibitors obtained under the license agreement, for COVID-19 which Cocrystal selected in December 2020. Cocrystal got effective results in the initial phase of pharmacokinetic studies. CDI-45205 showed good bioavailability results in rat and mouse pharmacokinetic studies and showed no cytotoxicity against many of the human cell lines. FurthermoreCDI-45205 showed a strong synergistic effect with remdesivir which is an FDA-approved drug for COVID-19.COCP stock is planning to further evaluate CDI-45205 via advancing this candidate towards clinical development.

Novel SARS-CoV-2 replication inhibitors

Besides CDI-45205, COCP stock is also working in the development of alternative SARS-CoV inhibitors. Cocrystal is using its proprietary drug discovery platform technology along with protein crystallography approach in order to design variety of new chemicals to improve in vitro potency and pharmacokinetic properties.COCP stock is anticipating one more SARS-CoV-2 preclinical lead this year for oral administration. Cocrystal is also engaged in developing novel SARS-CoV-2 inhibitors in order to block viral replication and transcription.

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Conclusion:

Investors are responding to the announcement of update regarding discovery and development programs related to COVID-19. It seems that momentum was already built for COCP stock and recent news has added more hype to the rising stock price. In a nutshell, COCP stock can be a good bet for investors in the long run.

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