Cocrystal Pharma, Inc. (COCP) shares rose in the pre-market today after Cocrystal shares announced an update on antiviral detection and development programs for COVID-19. The COCP share price rose 63.71% to hit $ 2.03 per share at the time of this writing. COCP stock performed well in the last trading session, rising 5.08%, posting a price of $ 1.24 per share on the previous close. Let’s discuss more of this stock.
Cocrystal Pharma, Inc. is a biopharmaceutical company engaged in the development and discovery of therapeutics for the treatment of chronic viral diseases. The COCP share started its COVID-19 program in March 2020 and has since expanded this program to include additional developments and licenses. COCP stock announced on May 3, 2021 the update related to the development of broadband antiviral candidates to be used in the fight against COVID-19. Here is the brief detail of the main COCP candidates.
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CDI-45205 is the lead candidate among protease inhibitors obtained under the COVID-19 license agreement that Cocrystal selected in December 2020. Cocrystal has shown effective results in the early stages of pharmacokinetic studies. CDI-45205 showed good bioavailability results in pharmacokinetic studies in rats and mice and did not show cytotoxicity against many of the human cell lines. In addition, CDI-45205 showed a strong synergistic effect with Remdesivir, an FDA-approved drug for COVID-19. The COPP share plans to further evaluate CDI-45205 by advancing this candidate towards clinical development.
In addition to CDI-45205, COCP Stock is also working on the development of alternative SARS-CoV inhibitors. Cocrystal uses its proprietary drug discovery technology, along with a protein crystallography approach, to develop a variety of new chemicals to improve in vitro potency and pharmacokinetic properties. The COCP share expects another preclinical SARS-CoV-2 lead for oral administration this year. Cocrystal is also involved in the development of new SARS-CoV-2 inhibitors to block the replication and transcription of viruses.
Investors are responding to the announcement of an update on detection and development programs related to COVID-19. It seems that COCP stock is already gaining momentum and recent news has dragged the soaring share price even more under the spell. In short, COCP stocks can be a great choice for investors in the long run.
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