🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Cocrystal Pharma stock maintains price target, Outperform rating

EditorAhmed Abdulazez Abdulkadir
Published 05/14/2024, 09:41 AM
COCP
-

On Tuesday, Noble Capital maintained its Outperform rating on Cocrystal Pharma (NASDAQ:COCP) with a steady price target of $10.00. The firm's optimism is tied to the anticipated results from the CC-42344 Influenza Virus Program.

CC-42344, an oral PB2 inhibitor, is being developed to combat a wide range of pandemic and seasonal influenza strains. The Phase 2a human-challenge study, which has recently completed enrollment, is taking place in the UK. The outcomes of this trial are expected to be disclosed in the second half of 2024.

Cocrystal Pharma has been successful in meeting its clinical milestones according to the planned schedule. The company has also received guidance from the FDA regarding the Investigational New Drug (IND) filing requirements for the forthcoming Phase 2b trials.

The filing for the IND is anticipated in the latter half of 2024, marking a significant step forward in the drug's development process.

The completion of the current Phase 2a study and the upcoming IND filing for Phase 2b trials represent critical junctures for Cocrystal Pharma. If the trial data is positive, CC-42344 could advance to a Phase 2b study in the United States, specifically targeting influenza. This progression could be a pivotal event for the company and a potential catalyst for the stock's performance.

Noble Capital's reiterated Outperform rating and $10 price target reflect the firm's expectation of positive trial outcomes and the strategic advancement of CC-42344 in the drug development pipeline.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.