Cocrystal Pharma, Inc. (COCP) stock prices were up by a monumental 72.58% as of the market closing on may 4th 2021, bringing the price per share up to USD$2.14 at the end of the trading day. Subsequent pre-market fluctuations saw the stock fall by a significant 22.9%, bringing it down to USD$1.65.
Covid-19 Treatment Program
COCP was already in the business of the discovery and development of novel antiviral therapies, designed to target the replication mechanisms of a range of virus types, including coronaviruses. The company recently announced progress in the development of broad-spectrum antiviral drug candidates that target coronaviruses, including SARS-CoV-2, the virus that causes Covid-19. The Covid-19 program was initiated in March of 2020 and has since been expanded with further development and licensing.
Success of Treatments in Development
As the global pandemic rages on while the world hurtles towards universal immunizations, COCP is aggressively developing therapies for Covid-19. The company has allocated resources towards developing protease inhibitors for prophylactic and therapeutic use in Covid-19 cases, with the drug candidates bind to an active site of the virus protease that is responsible for Covid-19’s viral replication. Using proprietary high-res x-ray co-crystal structures, the company further confirmed the interaction between the drug candidate and the conserved region of the proteases of various coronaviruses.
Circumventing Issues Posed by Covid-19 Variants
As a result of the drug candidates’ innovate mechanism of action, COCP anticipates the protease inhibitors being developed to be effective against the various strains of SARS-CoV-2 springing up across the world. This is despite variants of Covid-19 possibly being more contagious and immune to existing vaccines and therapies.
Promising Scope of CDI-45205
December 2020 saw the announcement of the selection of CDI-45205 as COCP’s leading coronavirus development candidate, among many, following the acquisition of an exclusive licensing agreement with Kansas State University Research Foundation earlier in 2020. The drug exhibited promising bioavailability in rodent pharmacokinetic studies and showed no signs of cytotoxicity against a number of human cell lines. CDI-45205 also has demonstrably strong synergistic effects with the FDA-approved Covid-19 drug remdesivir.
Expanding Covid-19 Drug Candidates
The company has continued to leverage its expertise in antiviral development to facilitate the launch of a second Covid-19 program. Using proprietary COCP technology and their drug discovery platform, the company is aiming to develop additional antiviral compounds that will aid in the global efforts towards universal immunizations.
Future Outlook for COCP
With the world hurtling towards a resolution to the global pandemic, COCP is at the forefront of the race to supply nearly every economy in the world with Covid-19 treatments, armed with its recent generation of USD$40 million in capital from a recent underwriting agreement. Current and potential investors are hopeful that the company will be able to leverage its resources to capitalize on an unfortunate opportunity that was already well within its area of expertise, thus ushering in unprecedented increases in shareholder value.