Cocrystal Pharma (NASDAQ:COCP) is on the move Wednesday even with there being a lack of news about the pharmaceutical company.
Cocrystal Pharma stock is moving as investors are heavily trading shares of it. This has resulted in more than 7.5 million shares of the stock changing hands when markets opened early this morning. For comparison, COCP stock’s average daily trading volume is only 1.44 million shares.
With eyes on COCP stock, investors are going to want to know more about the company. Luckily, we can help with a breakdown of Cocrystal Pharma below.
- Cocrystal Pharma is a clinical-stage biotechnology company with a focus on developing novel antiviral therapeutics.
- Its current work has it targeting the influenza virus, hepatitis C virus, norovirus, and the novel coronavirus.
- That last one’s definitely worth noting as many healthcare companies are surging as the race for a coronavirus vaccine continues.
- Its work on a coronavirus vaccine is still early with the company only in the discovery phase of development.
- Cocrystal Pharma is planning to use its drug delivery platform and inhibitors to create a treatment for the coronavirus.
- This has it developing a drug that targets replication enzymes and protease.
- The company believes that by using this method, it can create a treatment for all versions of the coronavirus, including the one behind the current pandemic.
- Its current market capitalization is sitting at $89.13 million as of this morning.
COCOP stock was up 28.5% when markets opened on Wednesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.