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One of the hottest exchange-traded funds is sliding again, and the selloff may only get worse.
Dogecoin (DOGE-USD) has nearly doubled in value since April, rising over 50% after another surge driven by internet users who are trying to push the coin to $1, as similar plans for "Doge Day" fell flat last month.
Cocrystal Pharma stock doubles on massive volume shortly after progress on coronavirus drug candidates
Shares of Cocrystal Pharma Inc. COCP, +72.58% more than doubled on massive record volume in afternoon trading
It took Amazon 13 years to deliver a 10,000% return to investors. It has now taken Dogecoin five months. The cryptocurrency (DOGE-USD) hit a new all-time high of $0.60 on Tuesday, pushing Dogecoin's market cap north of $70 billion to become the fourth-most valued coin, according to Yahoo Finance's data partner CoinMarketCap. That's now larger than the market cap of Moderna, one of the companies shipping COVID-19 vaccines to save the world from the pandemic.
Learn why Cocrystal Pharma Stock Gains over 150%
Cocrystal Pharma (COCP) - Get Report shares more than doubled in Tuesday trading after the drugmaker reported progress on its COVID-19 antiviral drug candidates.
The stock recently traded at $3.24 compared with Monday's close at $1.24. The shares have more than tripled in the past six months as investors look for opportunities in makers of COVID treatments.
“We are aggressively developing novel coronavirus protease inhibitors for COVID-19 prophylactic and therapeutic use,” said Sam Lee, president of Cocrystal, Bothell, Wash.
“These drug candidates bind to a highly conserved region of the active site of SARS-CoV-2 protease that is required for SARS-CoV-2 viral replication.
“Our high-resolution x-ray cocrystal structures further confirmed the specific covalent interaction with this conserved region of the proteases of the coronaviruses SARS-CoV-2, SARS-CoV and MERS-CoV viruses.”
Further, “We believe that, due to their novel mechanism of action, our protease inhibitors are likely to be effective against new variants of SARS-CoV-2,” he said.
“This may include the recent variants first identified in the United Kingdom, South Africa, Brazil and India, which may be more contagious forms of the virus and may evade immunity produced by vaccines or previous infection.”
In other Covid-related news, Pfizer PFE on Tuesday posted stronger-than-expected first-quarter earnings and lifted its full-year profit guidance.
The New York health-care group expects to generate around $26 billion in worldwide sales for its coronavirus vaccine.
On Monday, the European Union's drug regulator said it was evaluating the vaccine produced by Pfizer and BioNTech (BNTX) - Get Report for use in children between ages 12 to 15.
On Monday, specialty-diagnostics company Precipio said it launched its COVID-19 rapid antibody test on Amazon's (AMZN) - Get Report platform.