Cocrystal Pharma Inc (OTCBB:COCP) Moves Higher
The past few months have been great for the stock of Cocrystal Pharma Inc (OTCBB:COCP, COCP message board). The ticker began to climb the charts in early February and it has gained more than 100% in price, crossing the $1 per share mark.
The company stock also saw increased investor interest, but that doesn’t surprise us considering that it is one of the few biotech companies on the OTC marketplace that is actually generating revenues. Here is what the consolidated financials for the period ended September 30, 2014 looked like after the merger with RFS Pharma.
- cash: $3.1 million
- current assets: $6 million
- current liabilities: $8.6 million
- revenues: $121 thousand
- loss from operations: $6 million
And not only is the company in a pretty decent financial state, it is also quite active in carrying out its business plan. We can clearly see that from the many press releases that come out of COCP headquarters.
The company and its stock seem to have a bright future ahead of them. After all, Dr. Phillip Frost owns 22% of the company’s equity and we all know the fate of other companies that he has been involved with, like Opko Health Inc. (NYSE:OPK).
More recently, the company announced that it has accepted subscription agreements investor commitments in a private placement offering that total $15 million. This should be enough to keep the company going for a while, but it certainly didn’t have an effect on the stock.
But without any new press releases or promotional emails we saw COCP jump 23.53% in value yesterday. Trading was also intense and while the ticker was going for a close at $1.26 we saw a total of 3.17 million shares change their owners and generate $3.74 million in daily dollar volume.
It appears that COCP is not done with the climbing and the company stock is already 5.56% in the green since today’s open. That, however, doesn’t mean that you should skip on doing your due diligence and weighing out the risks before making an investment decision.
