There are not many companies in the stock market that witness as much as 54% hike within a few days time. Recently, Cocrystal Pharma Inc (OTCBB:COCP) became one such sought after company and left all the critics with surprise. Couple of things played important role in taking COCP to newer heights.
Insights On The Matter:
There were a lot of people talking about COCP and its ordinary performance, but a sudden hike of 54% in its shares has forced all of them to think once again. The only fact that prompts shareholders to invest in any particular company is nothing but the market outlook of that company. In case of Cocrystal Pharma Inc (OTCBB:COCP), investors were inclined because of a couple of important announcement made by it recently.
It has been working hard to find out cure for Hepatitis C for a long time now. COCP announced that it had made certain improvements in the study; hence, the world could expect a permanent solution to this disease soon. It also made public that some changes were made to the team of scientists, responsible to carry out research activities. The prime most addition was the founder of Pharmasset, who would lead the team and make sure that things fall in line without any hassle. Hepatitis C kills thousands of people every year all over the world; hence, this announcement attracted a range of investors in no time.
One other factor that played an important role in COCP’s beyond compare performance was Dr. Phillip Frost’s announcement to resign from Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA). Dr. Frost is part of COCP’s senior management team and works as director of the company. Earlier, he was not able to contribute to COCP’s operations, but now he can contribute in company’s growth and take it to new heights. The management of the company hopes that Cocrystal Pharma Inc (OTCBB:COCP) will continue this performance in the future as well.