This morning Cocrystal Pharma (NASDAQ:COCP) announced that it has made meaningful progress in relation to its antiviral COVID 19 product and that has sent the stock soaring by 159%. In addition to that, the company also announced that it is currently planning to expand its development capabilities as well.
The product, currently known as CDI 45205, demonstrated impressive bioavailability in the pharmacokinetic studies that had been conducted on a mouse and a rat.
On the other hand, it is also interesting to note that this product also demonstrated strong synergy when used in conjunction with Remdesivir, the Gilead Sciences manufactured COVID 19 medicine. However, that is not all. Cocrystal Pharma has also announced that it is currently planning to start its second COVID 19 program that is going to be centered on additional antiviral compounds. In light of the gains made by the stock today, investors might do well to keep an eye on the stock.
COCP stock is now up 159% at $3.21 and made a new 52-week high of $3.44 earlier in the session.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.