How many times do you see the stock prices of any company shooting up as much as 54% in a matter of a few days? Well, probability of witnessing such growth rate is very less, but still Cocrystal Pharma Inc (OTCBB:COCP) has done it. The growth has not only pleased its investors, but also hushed all the critics.
What Elevated The Growth:
As per the reports, Dr. Phillip Frost has resigned from the chairman’s post of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA). He announced the retirement in June 2014. The reason for Frost’s resignations is nothing but his involvement in too many companies. Due to this fact, he was not able to focus on TEVA’s administration and growth prospect in a proper way. One of the major companies that he has been involved with for a long time is COCP. As soon as the news of his resignation hit the newspapers and digital media, the shares of COCP elevated to new heights.
COCP is one of his favorite companies, in which he owns almost 22% stake. Even though he doesn’t give ample time in the company’s proceedings, still works as a director of Cocrystal Pharma Inc (OTCBB:COCP). He is a part of the team of stakeholders who owns close to 72% of company’s shares. As per the reports, COCP is currently focusing on developing Hepatitis C antiviral. It is led by a team of some of the brightest personalities of today’s time including the founder of Pharmasset.
It’s still in the early phase when it comes to the development of Hepatitis C antiviral, but the market has shown the positive response towards its initiatives. COCP increased from $0.5 to $0.7 in two days time, which shows how excited the investors are. The management of Cocrystal Pharma Inc (OTCBB:COCP) hopes to see similar growth in the coming days as well.