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By Annette Thatcher
Nov 27, 2014

Cocrystal Pharma, Inc. (COCP) Completes Merger With RFS Pharma, LLC

Cocrystal Pharma, Inc. (COCP) reemerged after announcing via press release on November 25 that COCP has closed its merger with RFS Pharma, LLC. The merged entity will function as an “advanced antiviral development organization”, focusing on the development of drugs for treating human viral diseases.Cocrystal Pharma, Inc. stock chart

COCP stock went up by 15.43% in price on a volume of 1,769,043 shares trading hands on the day the announcement came out. The excitement quickly faded on the next day, as the ticker went through a slight correction. COCP stock ended the session at $0.5199, managing to remain over the $0.50 mark, which it has been hovering around for the past month.

The current price level is a step up from the past few months. Looking into Cocrystal Pharma long term, the venture's latest financial disclosure for the period ended September 30, 2014 lists the following:

  • Cash: $3 million
  • Total current assets: $5.8 million
  • Total current liabilities: $7.6 million
  • Net loss: $2.5 million

COCP's cash and asset base has increased significantly in the past quarter. At the same time, however, the company has accumulated even more in liabilities and is currently at a negative asset to liability ratio. The ultimate result of the venture's operations has been a high net loss.

The company has often granted options as compensation. As of September 30, there were a total of 2,831,058 options exercisable and an aggregate of 53,599,046 shares of common stock was reserved for issuance under COCP’s 2007 incentive plan.

COCPIt remains to be seen what direction Cocrystal Pharma will take pursuant to merging with RFS Pharma, LLC. Combining the efforts and know-how of two previously unaffiliated companies gives a wider range of material and intellectual property to operate with. At the same time, the efforts needed to manage the tasks and work in unison for a common cause are of greater measure.

While it may be too early to draw conclusions on the potential of COCP going forward, it is safe to say that doing research on the company before investing would be a wise decision at this stage of its development.

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