Anastas Gegov

Cocrystal Pharma Inc (OTCBB:COCP) Tumbling Down The Charts

by Anastas Gegov January 8, 2016

After descending through the charts in the second half of last year we suddenly saw the stock of Cocrystal Pharma Inc (OTCBB:COCP, COCP message board) burst in the charts right before the end of 2015. It seemed that the ticker might go above the $1 per share mark after three explosive sessions, but it stopped 1 cent shy from reaching $0.90.

 

After 2015 came to an end, however, things turned for the worse and COCP began sliding. It is good to note that this isn’t your regular penny stock. This is perfectly clear once you see the numbers that are contained in the company’s financial report. Here is an example of the contents of the balance sheet for the third quarter of 2015.

 

  • cash: $12.41 million
  • current assets: $13.22 million
  • current liabilities: $4.15 million
  • revenues: $24 thousand
  • net loss: $508 thousand

 

But that’s not the only thing that sets COCP apart from other companies in the same sector. And that is the fact that Dr. Philip Frost of Opko Health Inc. (NYSE:OPK) has considered it a good idea to invest a significant amount of money in the company.

 

Still, COCP had reached quite a big market valuation so the latest sessions come as not that big of a surprise. Yesterday we saw the ticker lose another 12.93% of its value and slide to $0.64 while a total of 298 thousand shares changed their owners and generated $194 thousand in daily dollar volume.

 

It is still unknown how long COCP will slide, but it’s likely that things will stabilize sooner rather than later. That, however, doesn’t mean you should skip doing your own due diligence and weighing out the risks before putting any money on the line.

Comments 1

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