Cocrystal Pharma Inc Stock Price, News & Analysis

Cocrystal Pharma, Inc. (Nasdaq: COCP) announced a private placement of 2,030,458 shares of common stock at $1.97 per share, raising $4.0 million. The investment was made by notable industry leaders Phillip Frost, M.D., and Fred Hassan, each contributing $2.0 million. This capital infusion strengthens Cocrystal's financial position as it prepares for significant clinical milestones. The company is set to commence a Phase 2a human challenge study for its PB2 inhibitor CC-42344 and a first-in-human trial for its COVID-19 protease inhibitor CDI-988, both pending regulatory approvals. Additionally, a lead candidate in the norovirus program is expected to be selected by mid-2023.

Cocrystal Pharma, Inc. (Nasdaq: COCP) reported financial results for the year ending December 31, 2022, revealing a net loss of $38.8 million, or $4.77 per share, up from $14.2 million, or $0.16 per share in 2021. R&D expenses increased to $12.4 million as the company advanced its antiviral pipeline, including the CC-42344 Phase 1 trial and upcoming CDI-988 Phase 1 trial. Cocrystal plans to submit UK and Australian regulatory filings for influenza and COVID-19 studies, respectively. The company reported unrestricted cash of $37.1 million as of December 31, 2022, with working capital at $39 million.

Cocrystal Pharma, Inc. (Nasdaq: COCP) announced that CFO and co-CEO James Martin will present at the Virtual Investor Summit Conference on March 29, 2023, at 10:30 a.m. Eastern time. The presentation will highlight significant advancements and upcoming milestones in their antiviral programs targeting influenza A, COVID-19, and norovirus. The company employs innovative structure-based technologies to develop novel antiviral therapeutics aimed at viral replication processes.

For more details, interested parties can register for the presentation online.

Cocrystal Pharma, Inc. (Nasdaq: COCP) has announced its participation in several upcoming virtual investment community events. Co-CEO and CFO James Martin will be featured in the Noble Capital Markets’ J.P. Morgan Healthcare Conference Takeaways, available January 26, discussing the biotechnology market and Cocrystal’s opportunities. Additionally, an update on the company’s influenza and COVID-19 antiviral programs will be presented in the C-Suite Interview Series by February 1. Cocrystal will also present at Sequire’s Virtual Biotechnology Conference on February 2 at 11:30 a.m. ET. Cocrystal specializes in developing antiviral therapeutics.

Cocrystal Pharma (Nasdaq: COCP) reported positive results from its Phase 1 study of CC-42344, an oral antiviral targeting influenza A. The study demonstrated favorable safety and tolerability, with no serious adverse events reported. Approximately 50% of subjects experienced mild adverse events, similar to the placebo group. The company plans to apply for regulatory approval to initiate a Phase 2a study in early 2023, targeting potential treatments for pandemic and seasonal influenza, aiming to address significant healthcare costs associated with the illness.

Cocrystal Pharma (Nasdaq: COCP) has presented progress on its CC-42344 influenza treatment at the World Antiviral Congress 2022. The Phase 1 study results indicate a favorable safety profile and potential clinical benefits against various influenza A strains. Plans are underway to report topline results by year-end 2022 and initiate a Phase 2a human challenge trial in 2023. The drug, a PB2 inhibitor, shows promise against seasonal and pandemic strains, notably with a high barrier to resistance.

Cocrystal Pharma (Nasdaq: COCP) announced positive results from the ongoing Phase 1 study of CC-42344, an oral antiviral for influenza A, showing a favorable safety profile in both single-ascending and multiple-ascending dose portions. The trial supports once-daily dosing, with topline results expected by the end of 2022. CC-42344 targets all major influenza A strains, demonstrating excellent antiviral activity. The company plans to submit an application for a Phase 2a human challenge study in early 2023, aiming to initiate the trial in the second half of 2023.

Cocrystal Pharma, Inc. (COCP) announced complete enrollment in its Phase 1 study for the antiviral candidate CC-42344 targeting influenza A, with topline results expected in late 2022. The company has selected CDI-988 as its lead candidate for SARS-CoV-2, planning to initiate a Phase 1 trial in early 2023. Financial results reveal an increase in R&D expenses to $3.9 million in Q3 2022 from $2.1 million in Q3 2021, and a net loss of $5.7 million. Cash reserves totaled $42.1 million, sufficient to fund operations for three years. Regulatory submissions for further clinical studies are anticipated in early 2023.

Cocrystal Pharma, Inc. (Nasdaq: COCP) announced participation in two investor conferences. On November 3, CFO James Martin will join a panel at the 2022 BioFlorida Annual Conference focusing on infectious diseases, held at Hyatt Regency Miami. Additionally, he will present a company overview at the Q4 Investor Summit on November 14 at Sheraton New York Time Square Hotel. A webcast of the Q4 Investor Summit will be available on the company’s IR Calendar page.