Cocrystal Pharma shares surge 39.71% intraday as CDI-988 gains FDA fast-track designation for norovirus treatment and enters Phase 1b trial.

Cocrystal Pharma surged 39.71% intraday after announcing that the FDA has granted fast track designation to its oral direct-acting protease inhibitor CDI-988, the first oral antiviral candidate for the treatment and prevention of norovirus infection. The company also disclosed that the Phase 1b norovirus challenge trial for CDI-988 has begun at Emory University School of Medicine, evaluating the drug’s preventive and therapeutic effects in healthy subjects.