COCP - Cocrystal Pharma Inc. (COCP) - Drugs For COVID-19 Advance As The Pandemic Wont Go Away
Cocrystal Makes Progress Against SARS-CoV-2. In November 2021, the SARS-CoV-2 Omicron variant was identified as a new, highly contagious strain. Although less virulent than other strains, its genetic variations allowed it to evade immune protection from current vaccines. Since then, variants have been identified with genetic sequences showing emergence after the Omicron strain. We believe this highlights the need for new drugs with different mechanisms of action and long-term efficacy.Cocrystal Has Developed Drugs That Block Viral Reproduction. Cocrystal has been developing drugs that block the RNA protease enzyme needed for viral replication. These are highly conserved proteins that do not vary between strains and can be effective against new variants. This contrasts with the current COVID-19 vaccines that stimulate an immune response against a viral surface marker which can mutate to avoid recognition by the immune system.Cocrystal Has Advanced Two Drugs In Development. Cocrystal announced that CDI-988 and CDI-873 will be further tested to begin clinical trials. Both drugs are orally-dosed protease inhibitors that target a highly conserved region in the active site of viral (3CL) protease and is not subject to mutations that could lead to drug resistance. The company plans to initiate a first-in-human trial later in 2022.FDA Guidance Was Received For The Inhaled Formulation. Cocrystal has received a response from the FDA to its pre-IND data submission for CDI-45205, its inhaled protease inhibitor. In its response, the FDA gave clarification on the requirements for the Phase 1 study and the Phase 2 development plans. Phase 1 is expected to begin later in 2022.Conclusion. Cocrystal continues to make progress and has reached its milestones, with several upcoming milestones in its Influenza programs ahead in 2022. We see the price decline across the biotechnology industry as a buying opportunity, and reiterate our Outperform rating and price target of $5 per share. Read More >>