Cocrystal Pharma (COCP) Stock Climbs On Coronavirus Work

Cocrystal Pharma COCP Stock News

Cocrystal Pharma Inc (NASDAQ: COCP) is rocketing in the market this morning, gaining more than 40% early on. The gains come after the company announced that it has entered into a license agreement for the development of compounds that will treat Norovirus and Coronavirus infections. Here’s what’s happening:

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COCP Stock Rockets On Work To Combat Coronavirus

In a press release issued early this morning, Cocrystal Pharma announced that it has entered into a license agreement with Kansas State University Research Foundation. The agreement surrounds the development of proprietary broad-spectrum antiviral compounds that are being designed to treat both Norovirus and Coronavirus infections.

As part of the agreement, COCP said that it has been gratned an exclusive, royalty-bearing right and license to certain antiviral compounds. These compounds have been created for use in humans and are covered by KSURF’s patents.

In the release, the company said that it will pursue  research and development of these antiviral compounds. This work will include both preclinical and clinical development.

All in all, the license greatly advances the company’s antiviral programs. Ultimately, it provides potent compounds for further development. In a statement, Dr. Sam Lee, President at COCP, had the following to offer:

We are incredibly pleased to contract with the Kansas State University Research Foundation as we seek to develop safe and effective antiviral therapies for these viruses. This license agreement opens several development opportunities for us to expand the broad utility of our platform to address significant viruses for which there are unmet medical needs, particularly the COVID-19 coronavirus and norovirus.

There is an urgent demand to address the public health threat that the coronavirus continues to present, and we believe that our proprietary drug discovery platform has the capability to do just that. We intend to seek opportunities for collaborations as we advance these programs.

This Is Big News

All in all, the news released by Cocrystal Pharma is great for the company and its investors. After all, the coronavirus is taking the world by storm. With tens of thousands of confirmed cases worldwide, thousands of deaths, and no vaccine or treatment approved for the condition, there is an urgent, unmet medical need here.

As I’ve mentioned in previous posts, the companies that start the work early to develop options for these patients will likely take the lead in the long run. COCP is breaking into this opportunity.

At the same time, news surrounding the coronavirus is leading to declining global markets. In fact, the market today seems to be a sea of red as the virus hits Italy hard and news surrounding President Trump’s hard feelings about allowing infected Americans back into the States hits the tape.

As coronavirus awareness continues skyward and companies like COCP continue to work to combat the virus, various opportunities are being created in the market. This is clearly one of them.

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