Cocrystal Pharma Inc (OTCBB:COCP) witnessed a strong start in the current year. The stock price started to surge on the charts in early February and from thereon has gained over 100%, crossing the $1 per share mark. The stock witnessed increased investor interest, and it is very much in with expectations as it is one of the few biotech firms on the OTC platform that is generating some revenues.
As per the last consolidated financial report ended September 2014, the cash balance of Cocrystal Pharma stood at $3.1million. The current assets in the period came at $6 million and the current liabilities stood at $8.6 million. The revenue was $121,000. However, the company reported $6 million as loss from operations. The company is in a decent financial state and is moving forward as per the planned objectives. It is evident from the several press releases issued in past few months.
The future ahead
Cocrystal Pharma Inc (OTCBB:COCP) and its stock appear to have a promising future ahead of them. The prime benefit is that Dr. Phillip Frost owns 22% of the total company’s equity. It is not a secret that he has been a major contributor in the success of many companies. Recently, the company also informed that it accepted subscription deals investor commitments under a private placement offering worth $15 million. It indicates that the company holds adequate funds to carry out its operations for a while. However, the news didn’t have any impact on the stock price.
Without any promotional pumps or new press releases, the shares of Cocrystal jumped more than 23% at the start of the week. The trading was intense as the surge in stock price came at a massive volume. The rise was followed by another strong trading session. However, the stock consolidated in last trading session and declined 2.04 to close the day at 1.44 with share volume of 994,418.