Cocrystal Pharma Inc. (OTCBB:COCP) Spikes Again

It seems that Friday the thirteenth is not an unlucky day for Cocrystal Pharma Inc. (OTCBB:COCP) – the ticker managed to add another 13.48% to its market cap on Friday even though news about it didn’t hit the web until Sunday.

It is unclear exactly what caused this spike in investor interest. As far as due diligence is concerned, nothing of importance concerning COCP happened back then.

Indeed, it wasn’t until Sunday that COCP announced that it was going to attend a poster presentation at the annual meeting of the American Association of the Study of Liver Diseases (a.k.a. AASLD) in San Francisco. As usual, it didn’t take long for the news to be blown out of proportion by online commenters such as MicroCapDaily – but is it really worth the hype?

After all, it is only natural for Dr. Douglas Mayers, Cocrystal Pharma Chief Medical Officer, to be excited about COCP‘s eventual transition into a clinical company. However, said transformation is a prospect of the distant future.

Prudent investors know that their main focus should be the a company’s current situation. This should definitely be the case here as well. Why?

Well, while COCP has a distinct edge over most other companies in the same stage and market, in that it actually seems to be making progress and has the cash to fund its operations, it is not faultless.

Investors would definitely do well to take note of some little details, such as fact that the company’s number of shares of common stock outstanding has grown from 122 million to 694 million between August 8, 2014 and August 13, 2015.

It is highly advisory that investors punch those numbers into a calculator and see how they like what comes out before they jump on the COCP hype train.