Benzinga | May 3, 2021 01:14PM EDT

Cocrystal Pharma Stock Gains After Laying Out Plans To Launch Another COVID-19 Antiviral Candidate

* Cocrystal Pharma Inc (NASDAQ: COCP) has announced progress on its COVID-19 antiviral drug candidates that target coronaviruses, including SARS-CoV-2, and it also plans to launch a second COVID-19 program with additional antiviral compounds for development, apart from CDI-45205.

* The company said that it had designed new chemical scaffolds to improve in vitro potency and pharmacokinetic properties. Lead discovery and optimization are ongoing.

* Identification of another SARS-CoV-2 preclinical lead for oral administration is anticipated this year.

* Additionally, the company is also developing novel SARS-CoV-2 inhibitors that block viral replication and transcription.

* In December last year, Cocrystal selected CDI-45205 as its lead coronavirus development candidate, obtained under an exclusive license agreement with Kansas State University Research Foundation (KSURF).

* CDI-45205 showed good bioavailability in mouse and rat pharmacokinetic studies via intraperitoneal injection and no cytotoxicity against various human cell lines. The company recently demonstrated a strong synergistic effect with the FDA-approved COVID-19 medicine remdesivir.

* Additionally, a proof-of-concept animal study demonstrated that daily injection of CDI-45205 exhibited favorable in vivo efficacy in MERS-CoV-2 infected mice.

* Price Action: COCP shares are up 0.85% at $1.19 on the last check Monday.