Cocrystal Pharma, Inc. develops antiviral therapeutics using a proprietary structure-based drug discovery platform. News for COCP centers on CDI-988, an oral direct-acting protease inhibitor for norovirus infection, including clinical-study updates, FDA Fast Track designation and scientific presentations on its 3CL protease mechanism.
Company updates also cover financial results, financing activity, NIH-supported influenza A/B polymerase research, and broader pipeline references to respiratory viruses and coronaviruses.
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.
Cocrystal Pharma (Nasdaq: COCP) has been granted European patent EP3866778 for its oral PB2 inhibitor CC-42344, which may enhance treatment options against influenza when used with established antivirals like Tamiflu® and Xofluza®. The company recently completed enrollment in a Phase 1 study for CC-42344 and expects topline results soon. This patent represents a critical step in safeguarding their antiviral innovations in the EU and supports similar efforts globally.
Cocrystal Pharma (Nasdaq: COCP) has completed enrollment for its Phase 1 healthy volunteer study of CC-42344, a novel antiviral aimed at treating influenza A. This Phase 1 study, initiated in March 2022, assessed safety and pharmacokinetics. Following positive single-ascending-dose results announced in July, the company is moving forward with a Phase 2a human challenge study expected to start in H2 2023, pending regulatory approval. CC-42344 has shown effectiveness against seasonal strains and demonstrated a favorable safety profile.
Cocrystal Pharma, Inc. (Nasdaq: COCP) announced that President and co-interim CEO Sam Lee, PhD, will present a company overview focusing on antiviral programs and clinical trials at the LD Micro Main Event XV. The presentation is scheduled for October 26, 2022, at 3:30 p.m. Pacific time (6:30 p.m. Eastern time) at the Luxe Sunset Boulevard Hotel, Los Angeles. Interested parties can access the live webcast and archived presentation on the IR Calendar of the company website.
Cocrystal Pharma, Inc. (Nasdaq: COCP) will present data from its Phase 1 clinical trial of CC-42344, a novel antiviral targeting influenza A, at the upcoming World Antiviral Congress on December 1, 2022. Dr. Sam Lee, co-interim CEO, expressed excitement about sharing this first-in-human trial data, which aims to address both seasonal and pandemic influenza. The company plans to initiate a Phase 2a human challenge trial, leveraging advanced antiviral technology with a promising safety profile. The global influenza therapeutics market is expected to grow, reaching $9.5 billion by 2027.
Cocrystal Pharma, Inc. (Nasdaq: COCP) has chosen its antiviral drug candidate CDI-988 for clinical development as an oral treatment for COVID-19. This candidate targets a key region in the SARS-CoV-2 main protease, showcasing superior in vitro potency compared to competitors. With favorable safety and pharmacokinetic profiles, CDI-988 is positioned for a first-in-human trial in Australia anticipated in Q1 2023, following IND-enabling toxicology studies. Cocrystal aims to advance antiviral therapeutics to combat various viral diseases.
Cocrystal Pharma, Inc. (Nasdaq: COCP) has announced that James Martin, CFO and interim co-CEO, will present a company overview at the Dawson James Securities 2022 Small Cap Growth Conference on October 12, 2022, at 1:00 p.m. Eastern time. The event is scheduled at the Wyndham Grand Hotel in Jupiter, Florida. Mr. Martin will also be available for one-on-one meetings throughout the conference. The presentation will be accessible on the company's website starting October 12.
Cocrystal Pharma, Inc. (Nasdaq: COCP) announced a 1-for-12 reverse stock split approved by its Board of Directors, effective October 11, 2022. This move aims to maintain compliance with Nasdaq Rule 5550(a)(2), which requires share prices to be above $1.00 for 30 consecutive trading days to avoid delisting. Following the split, the outstanding shares will decrease from approximately 97.5 million to around 8.1 million, while the authorized shares remain at 150 million. No fractional shares will be issued, and existing equity awards will be proportionately adjusted.