Cocrystal Pharma shares surge 61.07% intraday as CDI-988 receives FDA fast track designation for norovirus and initiates Phase 1b trial.

Cocrystal Pharma surged 61.07% intraday, following the announcement 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. Additionally, the company disclosed that the Phase 1b norovirus challenge trial for CDI-988 has commenced at Emory University School of Medicine, evaluating the drug’s preventive and therapeutic effects in healthy subjects.