Cocrystal Pharma’s First Oral Norovirus Protease Inhibitor CDI-988 to be Featured at the International Society for Antiviral Research Conference (ICAR) 2026

Rhea-AI Summary

Cocrystal Pharma (Nasdaq: COCP) will present initial Phase 1 and ongoing Phase 1b norovirus challenge study data for CDI-988 at ICAR2026, April 27–May 1 in Prague.

CDI-988 is described as the company’s first oral, direct-acting protease inhibitor developed for prevention and treatment of acute norovirus gastroenteritis and as a pan-viral 3CL protease inhibitor.

News Market Reaction

+2.02%

1 alert

+2.02% News Effect

+$281K Valuation Impact

$14M Market Cap

0.1x Rel. Volume

On the day this news was published, COCP gained 2.02%, reflecting a moderate positive market reaction. This price movement added approximately $281K to the company's valuation, bringing the market cap to $14M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Conference edition: 39th International Conference on Antiviral Research Conference dates: April 27–May 1 Phase 1 data: Phase 1 +1 more

4 metrics

Conference edition 39th International Conference on Antiviral Research ICAR 2026 presentation of CDI-988 data

Conference dates April 27–May 1 ICAR 2026 meeting window in Prague

Phase 1 data Phase 1 Initial CDI-988 clinical data to be presented

Ongoing study Phase 1b Norovirus human challenge study at Emory University

Market Reality Check

Price: $0.9800 Vol: Volume 46,284 vs 20-day a...

normal vol

$0.9800 Last Close

Volume Volume 46,284 vs 20-day avg 64,847 (relative volume 0.71x). normal

Technical Price 0.98, trading below 200-day MA 1.3 and 63.3% below 52-week high.

Peers on Argus

COCP was up 5.38% while close peers were mixed (e.g., IMNN +0.31%, PRTG -10.39%)...

1 Down

COCP was up 5.38% while close peers were mixed (e.g., IMNN +0.31%, PRTG -10.39%). Momentum scanner only flagged one biotech peer moving down, supporting a stock-specific move tied to CDI-988 news.

Historical Context

5 past events · Latest: Dec 18 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 18	Trial approval news	Positive	+3.1%	IRB approval for CDI-988 Phase 1b human challenge study at Emory.
Dec 01	Conference appearance	Neutral	-2.8%	Planned presentation at Noble Capital emerging growth equity conference.
Nov 14	Earnings and pipeline	Neutral	+0.0%	Q3 2025 results plus CDI-988 IND clearance and NIH award details.
Oct 30	Insider financing	Positive	+1.9%	Insider-led $1.03M private placement with attached warrants.
Oct 27	Non-dilutive funding	Positive	+4.2%	Approx. $500,000 NIH SBIR Phase I award for influenza program.

Pattern Detected

Positive R&D and funding updates have often coincided with modest price gains after news.

Recent Company History

Over the past few months, Cocrystal highlighted multiple advances in its antiviral pipeline. In October 2025 it received a $500,000 NIH SBIR award for an influenza program, followed by an insider-led private placement raising $1.03M. November’s Q3 update detailed FDA IND clearance for CDI-988 and recent financings. In December 2025, the company announced IRB approval for a CDI-988 Phase 1b norovirus challenge study, which saw a 3.09% price rise. Today’s ICAR 2026 presentation update fits this ongoing CDI-988 development narrative.

Market Pulse Summary

This announcement highlights CDI-988’s advancement, with Phase 1 data and Phase 1b challenge updates...

Analysis

This announcement highlights CDI-988’s advancement, with Phase 1 data and Phase 1b challenge updates being showcased at ICAR 2026, underscoring Cocrystal’s focus on norovirus and pan-viral protease inhibition. Recent history includes IRB approval for the Phase 1b study, non-dilutive NIH funding, and insider-led financing. Investors may watch for detailed efficacy, safety, and study design readouts, as well as further regulatory steps, to better gauge how this program could influence Cocrystal’s clinical and strategic trajectory.

Key Terms

protease inhibitor, 3cl viral proteases, phase 1b, phase 1, +2 more

6 terms

protease inhibitor medical

"norovirus challenge study with its direct-acting, oral protease inhibitor CDI-988"

A protease inhibitor is a medicine that blocks enzymes called proteases, which act like molecular scissors that cut proteins the body or viruses need to function. For investors, these drugs matter because successful protease inhibitors can become profitable treatments, influence a company’s drug pipeline value, face regulatory review and patent timelines, and carry risks such as side effects or resistance that affect sales and company valuation.

3cl viral proteases medical

"pan-viral protease inhibitor, targeting 3CL viral proteases"

A 3CL viral protease is an enzyme many viruses use to cut long viral protein chains into the smaller, working parts the virus needs to replicate. Think of it as a molecular pair of scissors that assembles the virus’s machinery; blocking that scissors can stop the virus from making copies. For investors, drugs that inhibit 3CL proteases are high-value targets because successful inhibitors can lead to effective antiviral treatments and commercial opportunities.

phase 1b medical

"ongoing Phase 1b challenge study evaluating CDI-988 as both a potential prophylactic"

"Phase 1b" is an early stage in testing a new medical treatment or vaccine, where it is given to a small group of people to evaluate its safety and determine the right dose. For investors, this phase signals progress in development, indicating the treatment is advancing through initial safety checks, which can influence expectations for future success and potential market impact.

phase 1 medical

"Company to present Phase 1 data and updates from ongoing Phase 1b study"

Phase 1 is the first stage of testing a new drug or medical treatment in people, focused primarily on safety, how the body handles the product, and finding a tolerated dose. Think of it as a short, tightly controlled experiment with a small group to check for dangerous side effects before wider testing; for investors it is an early milestone that reduces some uncertainty but still carries high risk and potential for both big value changes and setbacks.

norovirus challenge study medical

"norovirus challenge study with its direct-acting, oral protease inhibitor CDI-988"

A norovirus challenge study is a clinical test in which healthy volunteers are intentionally exposed to the norovirus under controlled conditions to see whether a vaccine or treatment prevents illness. Think of it as a dress rehearsal for a drug or vaccine that gives faster, controlled proof of whether the product works and how safe it is, which helps investors judge development progress, regulatory risk, and potential market value.

gastroenteritis medical

"treatment of acute norovirus gastroenteritis"

Inflammation of the stomach and intestines that causes diarrhea, vomiting and stomach pain, usually from an infection or a toxin and typically lasting days rather than weeks. Investors care because outbreaks can temporarily reduce worker attendance, disrupt supply chains and boost demand for over‑the‑counter medicines, medical care and sanitation products—similar to a short, sharp outage that shifts costs, sales and operational patterns across affected businesses.

AI-generated analysis. Not financial advice.

• CDI‑988 is the first oral antiviral drug candidate being developed for prevention and treatment of norovirus infections
• Company to present Phase 1 data and updates from ongoing Phase 1b study conducted at Emory University School of Medicine
• No approved antiviral therapies or vaccines for norovirus infections demonstrate an immediate market need
  

BOTHELL, Wash., Feb. 19, 2026 (GLOBE NEWSWIRE) -- Cocrystal Pharma, Inc. (Nasdaq: COCP) (“Cocrystal” or the “Company”) announces that initial progress of a norovirus challenge study with its direct-acting, oral protease inhibitor CDI-988 will be presented at the 39^th International Conference on Antiviral Research (ICAR2026), being held April 27–May 1 in Prague, Czech Republic. CDI-988 is the first oral antiviral drug candidate under development for the prevention and treatment of acute norovirus gastroenteritis.

Sam Lee, Ph.D., Cocrystal President and co-CEO, will discuss the ongoing Phase 1b challenge study evaluating CDI-988 as both a potential prophylactic and therapeutic option for norovirus infection. CDI-988 was designed and developed using the Company’s proprietary structure-based drug discovery platform technology as a pan-viral protease inhibitor, targeting 3CL viral proteases. Based on its novel mechanism of action and superior broad-spectrum antiviral activity, CDI-988 represents a potential oral treatment for both noroviruses and coronaviruses.

“ICAR is widely regarded as the premier international conference for antiviral research, and it is a privilege to be selected to present our work to this antiviral research community,” said Dr. Lee. “We are excited to further advance CDI-988 into a Phase 1b norovirus challenge study at Emory University School of Medicine. CDI‑988 is our first pan-viral protease inhibitor developed for the treatment of acute norovirus gastroenteritis and also represents a significant step toward a potential treatment for patients suffering from chronic norovirus infection.”

About ICAR2026

The International Society for Antiviral Research (ISAR) is an internationally recognized organization of scientists working across the basic, applied, translational and clinical aspects of antiviral research. The annual International Conference on Antiviral Research (ICAR), the Society’s main event, brings together virologists, chemists, clinicians, pharmacologists, biologists and regulatory representatives focused on antiviral agents and therapies. Topics include novel and broad‑spectrum antivirals, host‑targeted approaches, vaccines, pandemic preparedness and emerging or re‑emerging viral threats, with a strong emphasis on interdisciplinary collaboration among academia, industry, government and non‑profit organizations.

About Norovirus

Norovirus is a common and highly contagious virus that afflicts people of all ages and causes symptoms of acute gastroenteritis including nausea, vomiting, stomach pain and diarrhea, as well as fatigue, fever and dehydration. This infection spreads rapidly in semi-closed and crowded settings such as hospitals, nursing homes, cruise ships, schools, disaster-relief shelters and military facilities, where close contact makes outbreaks especially difficult to control. Norovirus causes an estimated 200,000 deaths worldwide each year at a societal cost of approximately $60 billion. In the U.S., norovirus is responsible for about 21 million cases of acute gastroenteritis annually, including 109,000 hospitalizations, 465,000 emergency department visits and nearly 900 deaths, with an estimated annual economic burden of $10.6 billion.

About Cocrystal Pharma, Inc.

Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), noroviruses and hepatitis C viruses. Cocrystal employs unique structure-based technologies to create viable antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the potential of CDI-988 as an oral treatment for both norovirus and coronavirus infections. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events. Some or all of the events anticipated by these forward-looking statements may not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to, the risks and uncertainties arising from inflation, affordability, the possibility of a recession, the impact of future interest rate changes on the economy, tariffs and the resulting litigation, and geopolitical conflicts including those in Ukraine, Latin America and Middle East on our Company, our collaboration partners, and on the U.S. and global economies, including manufacturing and research delays arising from raw materials and labor shortages, supply chain disruptions and other business interruptions including any adverse impacts on our ability to obtain raw materials for and otherwise proceed with the planned norovirus study or subsequent studies as well as similar problems with our vendors and our current and any future clinical research organizations (CROs) and contract manufacturing organizations (CMOs), the progress and results of the studies including any adverse findings or delays, the ability of us and our CROs to recruit volunteers for, and to otherwise proceed with, clinical studies, our and our collaboration partners’ technology and software performing as expected, financial difficulties experienced by certain partners, the results of any current and future preclinical and clinical studies, general risks arising from clinical studies, receipt of regulatory approvals, regulatory changes and any adverse developments which may arise therefrom, potential mutations in a virus we are targeting that may result in variants that are resistant to a product candidate we develop, the potential for the development of effective treatments by competitors which could reduce or eliminate a prospective future market share commercializing any product candidates we may develop in the future, and our ability to meet our future liquidity needs. Further information on our risk factors is contained in our filings with the SEC, including the “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 and the Prospectus dated September 25, 2025. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact:

Alliance Advisors IR
Jody Cain
310-691-7100
jcain@allianceadvisors.com

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FAQ

What will Cocrystal Pharma (COCP) present about CDI-988 at ICAR2026 on April 27–May 1, 2026?

Cocrystal will present Phase 1 results and updates from an ongoing Phase 1b norovirus challenge study. According to the company, the presentation covers initial progress evaluating CDI-988 as prophylactic and therapeutic for norovirus infection.

What is CDI-988 and how is Cocrystal Pharma (COCP) positioning it for norovirus?

CDI-988 is an oral direct-acting protease inhibitor targeting 3CL viral proteases. According to the company, it was designed as a pan-viral protease inhibitor for prevention and treatment of acute norovirus gastroenteritis.

Does Cocrystal Pharma (COCP) claim CDI-988 has activity beyond norovirus?

Yes, the company describes CDI-988 as having broad-spectrum antiviral activity that may extend to coronaviruses. According to the company, its structure-based design targets 3CL proteases across multiple viruses.

Who from Cocrystal Pharma (COCP) will discuss CDI-988 at ICAR2026 and where is the Phase 1b study conducted?

Sam Lee, Ph.D., Cocrystal president and co-CEO, will present CDI-988 updates at ICAR2026. According to the company, the Phase 1b challenge study is being conducted at Emory University School of Medicine.

Why is CDI-988 notable for investors following Cocrystal Pharma (COCP) in February 2026?

CDI-988 is notable as the company’s first oral candidate targeting norovirus with initial Phase 1 and Phase 1b data being presented at a major antiviral conference. According to the company, no approved antivirals or vaccines for norovirus currently exist.