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Phase 2a human challenge trial for the experimental influenza medication CC-42344 was extended by Cocrystal Pharma (COCP, Financials). Low infection rates among individuals exposed to the H3N2 virus strain presented difficulties for the research meant to assess the safety, tolerability, and antiviral efficacy of the medicine. This problem has postponed the gathering of significant antiviral data, hence the business asked the UK Medicines and Healthcare Products Regulatory Agency for permission to change a procedure.
The news sharply dropped the stock price of Cocrystal Pharma; shares dropped almost 35% and closed at $2.10. Notwithstanding the setback, the business underlined the promise of CC-42444, which aims at a crucial stage in the influenza A virus replication. Early studies reveal a solid safety profile and the experimental medicine has showed great in vitro efficacy against resistant bacteria.
Using its unique structure-based drug discovery system, Cocrystal Pharma is developing antiviral therapies for influenza, coronaviruses, and other viruses. With up to 650,000 fatalities yearly and billions in financial damages, influenza A still presents a major worldwide health concern, according to the healthcare company. With fast-acting, safe, effective treatments, the business hopes to solve these problems.
This article first appeared on GuruFocus.