Cocrystal Pharma Inc (OTCBB:COCP)’s Bad Performance Continues

[[tagnumber 0]][[tagnumber 1]]The start of the year was a blast for the stock of Cocrystal Pharma Inc (OTCBB:COCP) and its shareholders. The company went from being traded at just $0.50 per share to heights of $1.51 per share in the end of March.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The reason for the impressive performance was pretty obvious. In the beginning of February the company published a filing which contained detailed information on the merger with RFS Pharma, LLC which included numbers from the formerly private entity’s balance sheet.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Furthermore, let’s not forget that one of [[tagnumber 10]]COCP’s[[tagnumber 11]] major shareholders is no other than Dr. Phillip Frost, known from the incredible success of Opko Health, Inc. (NYSE:OPK). Meanwhile, we got to see how the company handled the first quarter and the numbers are pretty impressive by OTC standards.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 15]] [[tagnumber 16]]cash: $14.25 million[[tagnumber 17]] [[tagnumber 16]]current assets: $15.75 million[[tagnumber 17]] [[tagnumber 16]]current liabilities: $14.64 million[[tagnumber 17]] [[tagnumber 16]]quarterly revenues: $27 thousand[[tagnumber 17]] [[tagnumber 16]]quarterly net loss: $16.54 million[[tagnumber 17]] [[tagnumber 26]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The cash and current assets have drastically increased, but so have the liabilities. The revenues are still small, but that’s understandable considering the early stage in which [[tagnumber 10]]COCP[[tagnumber 11]] is. Even the net loss is highly affected by a $14.41 million in change in fair value of derivative liabilities, which is not so worrying.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Lately, however, the ticker has had some poor performance. Despite announcing a new experience addition to the company’s team on July 15 we saw [[tagnumber 10]]COCP[[tagnumber 11]] shed yet another 9.18% of its value and finish below the $1 per share mark, sitting at $0.94. A total of 2.15 million shares generated $2 million in daily dollar volume, the biggest in more than a month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It seems, however, that this might be as low as [[tagnumber 10]]COCP[[tagnumber 11]] can go for the moment as the ticker is sitting 5.85% in the green as of the writing of this article. Still, you should be sure to do your due diligence and weigh out the risks before you put any money on the line. [[tagnumber 2]]