Cocrystal Pharma Inc Stock Price, News & Analysis

Cocrystal Pharma, Inc. (NASDAQ: COCP) announced a proposed settlement of a derivative action in the U.S. District Court, New Jersey. The settlement aims to resolve claims against individual defendants, requiring certain corporate governance enhancements by Cocrystal. It includes a payment of $275,000 to cover plaintiffs' legal fees and service awards. Current stockholders as of August 20, 2020, are barred from contesting the settlement once approved. A hearing is scheduled for December 16, 2020, to evaluate the fairness of the settlement.

Cocrystal Pharma (NASDAQ: COCP) will present at the H.C. Wainwright 22nd Annual Global Investment Conference on September 14, 2020, at 3:30 PM EDT, led by Chairman and CEO Dr. Gary Wilcox. The presentation will be followed by virtual one-on-one meetings with qualified investors. A live video webcast will be available on the Company's website.

Cocrystal Pharma, Inc. (NASDAQ: COCP) announced the completion of a public offering of 16,422,813 shares at $1.05 each, raising approximately $17.2 million before expenses. The offering included the partial exercise of an underwriter's option for an additional 2,137,098 shares. Proceeds will fund the expansion of Cocrystal's development programs for COVID-19 and Influenza, as well as general corporate purposes. H.C. Wainwright & Co. managed the offering under a previously filed shelf registration statement.

Cocrystal Pharma, Inc. (NASDAQ: COCP) announced an increased public offering of 14,285,715 shares of common stock at $1.05 per share, aiming to raise approximately $15.0 million before discounts and commissions. The offering, set to close around August 31, 2020, is to support the expansion of COVID-19 and Influenza treatment programs. H.C. Wainwright & Co. is the sole book-running manager for this offering. The company has also granted a 30-day option to purchase an additional 2,142,857 shares at the same price.

Cocrystal Pharma, Inc. (NASDAQ: COCP) announced an underwriting agreement with H.C. Wainwright & Co. to sell 9,523,810 shares at $1.05 each, expected to close around August 31, 2020. The offering aims to raise approximately $10 million to fund COVID-19 and influenza treatment development. An additional 1,428,571 shares may be purchased by the underwriter within 30 days. This offering is part of a previously filed shelf registration. The company specializes in developing antiviral therapeutics targeting various viruses.

Cocrystal Pharma (NASDAQ: COCP) announced its Q2 2020 financial results and program updates. The company has expanded its license with Kansas State University for broad-spectrum antiviral compounds against Coronavirus and published findings showing potent in vitro inhibition of the virus. Cocrystal reported revenues of $554,000 for Q2 2020, down from $592,000 in Q2 2019, while general and administrative expenses rose to $2,028,000. Net loss surged to $3,495,000 compared to a loss of $1,515,000 in the same quarter last year. As of June 30, 2020, cash on hand was approximately $19.37 million.

Cocrystal Pharma (NASDAQ: COCP) has announced the publication of preclinical animal studies on coronavirus antiviral compounds in Science Translational Medicine. The research details potent inhibitors of SARS-CoV-2, indicating potential therapeutic efficacy against COVID-19. Cocrystal holds exclusive licenses from Kansas State University Research Foundation for new antiviral compounds targeting coronaviruses. The company plans to advance these compounds further for COVID-19 treatment, building on encouraging preclinical data.

Cocrystal Pharma, Inc. (NASDAQ: COCP) reported its Q1 2020 financial results, highlighting a revenue decline to approximately $461,000 from $5,078,000 in Q1 2019, attributed to a previous one-time income related to the Merck collaboration. The company anticipates sufficient capital to fund operations through 2021, holding approximately $21.7 million in cash as of March 31, 2020. Key advancements include licensing agreements with Kansas State University for broad-spectrum antiviral development and successful completion of a Phase 2a clinical trial for HCV treatment.

Cocrystal Pharma (NASDAQ: COCP) has announced a reprioritization of its clinical development activities due to the impact of the COVID-19 pandemic, focusing on its preclinical COVID-19 program. The company continues its collaboration with Merck on influenza A/B antiviral agents, which may yield up to $156 million in milestone payments. However, supply chain disruptions have delayed the influenza A virus program. The company is progressing in its Norovirus program, with proof-of-concept studies expected to conclude in Q4 2020.