Cocrystal Pharma Inc. (NASDAQ:COCP) was up 4%. The company has announced encouraging findings regarding its SARS-CoV-2 main protease inhibitors.
Trading Data
On Monday, COCP stock moved up 3.60% at $0.98 with more than 803K shares, compared to its average volume of 1.04 million shares. The stock has moved within a range of $0.9521 – 0.9960 after opening the trade at $0.9664.
Latest News
Cocrystal indicated that the inhibitors showed strong in Vitro pan-viral effect against commonrhinovirus, respiratory enteroviruses, and coronaviruses that cause the common cold and against acute gastroenteritis causing noroviruses. The company discovered the protease inhibitors using its novel structure-based discovery tech, and Cocrystal is currently advancing them towards clinical development to fight SARS-CoV-2 variants.
Interim CEO and President Sam Lee said that it is compelling and exciting to witness the pan-viral activity of the SARS-CoV-2 main protease inhibitors against various common viruses that lead to different illnesses across the world. Lee said that as witnessed with the repurposing of a range of antiviral treatments during the pandemic, it is vital to quickly design and develop new drugs that are safe and potent as the pan-antivirals. He added that the protease inhibitors would be a game-changer for antiviral drug discovery modules and treatments. Therefore, in the coming weeks, investors should keep an eye on COCP.
Key Quote
“It is exciting and compelling to see the pan-viral activity of our SARS-CoV-2 main protease inhibitors against these clinically important viruses that cause illness among millions of people worldwide each year,” said Sam Lee, Ph.D., Cocrystal’s President and interim co-CEO. “As we have observed the importance of repurposed broad-spectrum antiviral drugs during the COVID-19 pandemic, it is extremely important to design and rapidly develop new drug candidates as potent and safe pan-antivirals. This could be a gamechanger for antiviral drug discovery paradigms and treatments.
Technical Data
COCP stock is trading below the 200-Day and 50-Day Moving averages of $1.27 and $1.01 respectively. However, the stock is trading above 20-Day moving average of $0.95. The stock is up 3% in the past month.
