Cocrystal Pharma Inc Financials

COCP

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Cocrystal Pharma Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.94x

For every $1 of reported earnings, Cocrystal Pharma Inc generates $0.94 in operating cash flow (-$16.5M OCF vs -$17.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-33.3x

Cocrystal Pharma Inc earns $-33.3 in operating income for every $1 of interest expense (-$17.9M vs $537K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Cocrystal Pharma Inc (COCP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$17.8M

YoY+3.4%

Cocrystal Pharma Inc's EBITDA was -$17.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.4% from the prior year.

Free Cash Flow

-$16.5M

YoY-11.6%

Cocrystal Pharma Inc generated -$16.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 11.6% from the prior year.

Net Income

-$17.5M

YoY+2.7%

Cocrystal Pharma Inc reported -$17.5M in net income in fiscal year 2024. This represents an increase of 2.7% from the prior year.

EPS (Diluted)

$-1.72

YoY+8.0%

Cocrystal Pharma Inc earned $-1.72 per diluted share (EPS) in fiscal year 2024. This represents an increase of 8.0% from the prior year.

Cash & Debt

$9.9M

YoY-62.6%

5Y CAGR+5.9%

10Y CAGR+9.5%

Cocrystal Pharma Inc held $9.9M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

10M

YoY+0.0%

Cocrystal Pharma Inc had 10M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$12.5M

YoY-17.4%

5Y CAGR+25.6%

10Y CAGR+11.9%

Cocrystal Pharma Inc invested $12.5M in research and development in fiscal year 2024. This represents a decrease of 17.4% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$8K

YoY-93.2%

5Y CAGR-44.0%

10Y CAGR+4.8%

Cocrystal Pharma Inc invested $8K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 93.2% from the prior year.

COCP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	$2.0M-69.3%	$6.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$12.5M-17.4%	$15.2M+22.4%	$12.4M+40.9%	$8.8M+45.7%	$6.0M+50.7%	$4.0M
SG&A Expenses	$5.3M-10.8%	$6.0M+4.3%	$5.7M+5.9%	$5.4M-2.5%	$5.6M+14.5%	$4.9M
Operating Income	-$17.9M+3.7%	-$18.6M+52.2%	-$38.8M-173.0%	-$14.2M-48.4%	-$9.6M+80.2%	-$48.4M
Interest Expense	-$537K+16.1%	-$640K-32100.0%	$2K-50.0%	$4K-50.0%	$8K-57.9%	$19K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$17.5M+2.7%	-$18.0M+53.7%	-$38.8M-173.8%	-$14.2M-47.0%	-$9.6M+80.0%	-$48.2M
EPS (Diluted)	$-1.72+8.0%	$-1.87+60.8%	$-4.77	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$954K-70.6%	$3.2M	N/A	$4.2M	N/A	$3.9M	N/A	$2.1M
SG&A Expenses	$1.1M-36.9%	$1.8M	N/A	$1.8M	N/A	$1.8M	N/A	$1.8M
Operating Income	-$2.1M+58.6%	-$5.0M	N/A	-$4.4M	N/A	-$5.7M	N/A	-$4.0M
Interest Expense	-$22K+80.2%	-$111K	N/A	-$320K	N/A	$1K	N/A	$1K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.0M+58.5%	-$4.9M	N/A	-$4.2M	N/A	-$5.7M	N/A	-$3.9M
EPS (Diluted)	$-0.19+61.2%	$-0.49	N/A	$-0.41	N/A	$-0.70	N/A	$-0.04

COCP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$13.5M-57.0%	$31.3M-23.5%	$40.8M-48.6%	$79.4M+46.4%	$54.2M+90.1%	$28.5M
Current Assets	$11.6M-60.2%	$29.1M-27.6%	$40.2M-32.3%	$59.3M+74.4%	$34.0M+310.8%	$8.3M
Cash & Equivalents	$9.9M-62.6%	$26.4M-29.1%	$37.1M-36.7%	$58.7M+77.8%	$33.0M+345.0%	$7.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	$556K-13.7%	$644K
Goodwill	N/A	N/A	N/A	$19.1M0.0%	$19.1M0.0%	$19.1M
Total Liabilities	$3.9M-19.3%	$4.9M+283.0%	$1.3M-30.9%	$1.8M+6.1%	$1.7M-38.5%	$2.8M
Current Liabilities	$2.4M-25.6%	$3.3M+168.3%	$1.2M-21.3%	$1.5M+13.8%	$1.4M-40.6%	$2.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$9.5M-63.9%	$26.4M-33.4%	$39.6M-48.9%	$77.5M+47.7%	$52.5M+104.2%	$25.7M
Retained Earnings	-$333.4M-5.5%	-$315.9M-6.0%	-$297.9M-15.0%	-$259.1M-5.8%	-$244.9M-4.1%	-$235.3M

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Total Assets	$10.4M-22.4%	$13.5M-57.0%	$31.3M-4.2%	$32.6M-20.1%	$40.8M-10.5%	$45.6M-42.5%	$79.4M-3.9%	$82.6M
Current Assets	$8.8M-24.2%	$11.6M-60.2%	$29.1M-9.7%	$32.2M-19.8%	$40.2M-10.5%	$44.9M-24.3%	$59.3M-5.0%	$62.4M
Cash & Equivalents	$7.7M-21.6%	$9.9M-62.6%	$26.4M-11.4%	$29.7M-19.9%	$37.1M-11.7%	$42.1M-28.4%	$58.7M-4.8%	$61.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	$19.1M0.0%	$19.1M0.0%	$19.1M
Total Liabilities	$2.8M-29.4%	$3.9M-19.3%	$4.9M+153.4%	$1.9M+51.1%	$1.3M-26.8%	$1.7M-5.7%	$1.8M+16.2%	$1.6M
Current Liabilities	$1.5M-37.4%	$2.4M-25.6%	$3.3M+69.5%	$1.9M+58.2%	$1.2M-24.9%	$1.6M+4.8%	$1.5M+25.8%	$1.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$7.7M-19.5%	$9.5M-63.9%	$26.4M-14.0%	$30.7M-22.5%	$39.6M-20.7%	$49.9M-35.6%	$77.5M-4.3%	$81.0M
Retained Earnings	-$339.8M-1.9%	-$333.4M-5.5%	-$315.9M-1.4%	-$311.4M-4.5%	-$297.9M-1.5%	-$293.4M-13.3%	-$259.1M-1.4%	-$255.4M

COCP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$16.5M-12.4%	-$14.7M+31.6%	-$21.4M-68.5%	-$12.7M-29.4%	-$9.8M-528.9%	-$1.6M
Capital Expenditures	$8K-93.2%	$118K+59.5%	$74K+42.3%	$52K-78.3%	$240K+65.5%	$145K
Free Cash Flow	-$16.5M-11.6%	-$14.8M+31.3%	-$21.5M-68.4%	-$12.8M-26.8%	-$10.1M-489.6%	-$1.7M
Investing Cash Flow	-$8K+93.2%	-$118K-59.5%	-$74K-42.3%	-$52K+78.3%	-$240K-65.5%	-$145K
Financing Cash Flow	N/A	$4.0M+14888.9%	-$27K-100.1%	$38.5M+7.9%	$35.7M+455.1%	$6.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Operating Cash Flow	-$1.4M+56.9%	-$3.2M+5.0%	-$3.3M-24.1%	-$2.7M+45.2%	-$4.9M+45.1%	-$8.9M-204.9%	-$2.9M+45.9%	-$5.4M
Capital Expenditures	N/A	$0-100.0%	$59K	$0-100.0%	$12K	N/A	$8K+100.0%	$4K
Free Cash Flow	N/A	-$3.2M+6.6%	-$3.4M-26.3%	-$2.7M+45.3%	-$4.9M	N/A	-$2.9M+45.8%	-$5.4M
Investing Cash Flow	N/A	$0+100.0%	-$59K	$0+100.0%	-$12K	N/A	-$8K-100.0%	-$4K
Financing Cash Flow	N/A	N/A	$0	$0+100.0%	-$7K0.0%	-$7K+22.2%	-$9K+18.2%	-$11K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

COCP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	-476.0%+261.5pp	-737.5%
Net Margin	N/A	N/A	N/A	N/A	-479.0%+254.8pp	-733.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-130.1%-72.5pp	-57.5%+37.6pp	-95.1%-77.2pp	-17.9%-0.1pp	-17.8%+151.0pp	-168.8%
Current Ratio	4.77-4.1	8.92-24.1	33.04-5.4	38.40+13.3	25.05+21.4	3.62
Debt-to-Equity	0.41+0.2	0.18+0.2	0.030.0	0.020.0	0.03-0.1	0.11
FCF Margin	N/A	N/A	N/A	N/A	-500.0%-474.0pp	-26.0%

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-19.6%+10.8pp	-30.4%	N/A	-12.8%	N/A	-12.5%	N/A	-4.8%
Current Ratio	5.78+1.0	4.77-4.1	8.92-7.8	16.74-16.3	33.04+5.3	27.73-10.7	38.40-12.5	50.85
Debt-to-Equity	0.36-0.1	0.41+0.2	0.18+0.1	0.06+0.0	0.030.0	0.03+0.0	0.020.0	0.02
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Cocrystal Pharma Inc profitable?

No, Cocrystal Pharma Inc (COCP) reported a net income of -$17.5M in fiscal year 2024.

What is Cocrystal Pharma Inc's earnings per share (EPS)?

Cocrystal Pharma Inc (COCP) reported diluted earnings per share of $-1.72 for fiscal year 2024. This represents a 8.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Cocrystal Pharma Inc's EBITDA?

Cocrystal Pharma Inc (COCP) had EBITDA of -$17.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Cocrystal Pharma Inc's free cash flow?

Cocrystal Pharma Inc (COCP) generated -$16.5M in free cash flow during fiscal year 2024. This represents a -11.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Cocrystal Pharma Inc's operating cash flow?

Cocrystal Pharma Inc (COCP) generated -$16.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Cocrystal Pharma Inc's total assets?

Cocrystal Pharma Inc (COCP) had $13.5M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Cocrystal Pharma Inc's capital expenditures?

Cocrystal Pharma Inc (COCP) invested $8K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Cocrystal Pharma Inc spend on research and development?

Cocrystal Pharma Inc (COCP) invested $12.5M in research and development during fiscal year 2024.

How many shares does Cocrystal Pharma Inc have outstanding?

Cocrystal Pharma Inc (COCP) had 10M shares outstanding as of fiscal year 2024.

What is Cocrystal Pharma Inc's current ratio?

Cocrystal Pharma Inc (COCP) had a current ratio of 4.77 as of fiscal year 2024, which is generally considered healthy.

What is Cocrystal Pharma Inc's debt-to-equity ratio?

Cocrystal Pharma Inc (COCP) had a debt-to-equity ratio of 0.41 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cocrystal Pharma Inc's return on assets (ROA)?

Cocrystal Pharma Inc (COCP) had a return on assets of -130.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Cocrystal Pharma Inc's cash runway?

Based on fiscal year 2024 data, Cocrystal Pharma Inc (COCP) had $9.9M in cash against an annual operating cash burn of $16.5M. This gives an estimated cash runway of approximately 7 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Cocrystal Pharma Inc's Piotroski F-Score?

Cocrystal Pharma Inc (COCP) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Cocrystal Pharma Inc's earnings high quality?

Cocrystal Pharma Inc (COCP) has an earnings quality ratio of 0.94x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Cocrystal Pharma Inc cover its interest payments?

Cocrystal Pharma Inc (COCP) has an interest coverage ratio of -33.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.