Cocrystal Pharma Stock Price, News & Analysis

Cocrystal Pharma, Inc. (Nasdaq: COCP) is a clinical-stage biotechnology company focused on discovering and developing novel antiviral therapeutics. According to the company’s public disclosures, Cocrystal targets the viral replication process of influenza viruses, coronaviruses (including SARS‑CoV‑2), noroviruses and hepatitis C viruses. The company reports that it employs unique structure-based drug discovery technologies and Nobel Prize‑winning scientific expertise to design small-molecule antivirals intended to be safe, effective and convenient to administer.

Cocrystal states that it operates as a single business segment and uses cash flows as the primary internal management measure. Its research programs are directed at serious and/or chronic viral diseases where existing treatments face resistance or where no approved therapies or vaccines exist, such as norovirus infection.

Cocrystal’s structure-based drug discovery platform

The company describes a proprietary platform that combines computational chemistry, medicinal chemistry, X‑ray crystallography, structural biology, enzymology and extensive virology know‑how. Cocrystal determines three‑dimensional structures of inhibitor–enzyme complexes at near‑atomic resolution, using these cocrystal structures to guide structure‑activity relationships and structure‑based drug design.

By focusing on highly conserved regions of viral enzymes and the detailed inhibitor–enzyme interactions at the atomic level, Cocrystal aims to design drug candidates that:

• Interrupt essential viral replication functions of RNA viruses
• Maintain activity against viral mutants by targeting evolutionary‑constrained sites
• Reduce off‑target interactions that can lead to adverse side effects

The company reports that it has developed proprietary chemical libraries that include non‑nucleoside inhibitors, metal‑binding inhibitors and drug‑like fragments. It contrasts this approach with traditional empirical medicinal chemistry that often relies on high‑throughput screening and lengthy hit‑to‑lead optimization cycles.

Key antiviral programs and pipeline focus

Cocrystal’s disclosures highlight multiple antiviral programs at discovery, preclinical and clinical stages. These programs are centered on norovirus, influenza viruses and coronaviruses, with additional work in hepatitis C viruses.

In its public materials, the company identifies several named drug candidates and programs:

• CDI‑988 (oral pan‑viral 3CL protease inhibitor) – Described as a broad‑spectrum inhibitor designed to target a highly conserved region in the active site of viral 3CL proteases. Cocrystal reports that CDI‑988 is being developed for the prevention and treatment of norovirus infections and for coronavirus infections. The company has reported favorable Phase 1 safety and tolerability data in healthy subjects and describes CDI‑988 as a potential first oral antiviral drug candidate for norovirus‑associated acute viral gastroenteritis. CDI‑988 has shown in vitro activity against multiple norovirus strains, including GII.4 and GII.17, and pan‑viral activity against common human coronaviruses, rhinoviruses and respiratory enteroviruses.
• CC‑42344 (oral PB2 inhibitor for influenza A) – Reported as a novel inhibitor of the influenza A polymerase PB2 subunit. Cocrystal states that CC‑42344 has shown in vitro activity against pandemic and seasonal influenza A strains, including strains resistant to approved antivirals. A Phase 1 study demonstrated a favorable safety and tolerability profile, and a Phase 2a human challenge study in influenza A‑infected subjects has been conducted. The company notes that efficacy analyses from that study were not reported due to issues in trial conduct, while safety and tolerability remained favorable.
• Inhaled CC‑42344 – Cocrystal indicates that it is evaluating an inhaled formulation of CC‑42344 as prophylaxis and treatment for pandemic and seasonal influenza A. Preclinical testing is reported to show superior pulmonary pharmacology, high drug exposure in the lung and a long half‑life, and the company has developed a dry powder inhalation formulation and completed toxicology studies.
• Influenza A/B polymerase complex program – The company has disclosed an influenza A/B program targeting the influenza polymerase complex. In 2025, Cocrystal reported receiving a Small Business Innovation Research (SBIR) Phase I award from the U.S. National Institutes of Health (NIH) National Institute of Allergy and Infectious Diseases (NIAID). This award supports development of a novel, oral, broad‑spectrum antiviral candidate for influenza A and B infections by characterizing lead molecules that inhibit an essential function of the polymerase complex.

Across these programs, Cocrystal emphasizes a strategy of broad‑spectrum antiviral development by targeting conserved viral enzymes and proteases involved in replication and transcription. The company’s disclosures describe this as a way to address resistance to existing antivirals and to prepare for emerging viral strains.

Norovirus focus and CDI‑988 development

Norovirus is described in Cocrystal’s communications as a highly contagious cause of acute viral gastroenteritis that leads to nausea, vomiting, stomach pain, diarrhea, fatigue, fever and dehydration. The company cites public health estimates of hundreds of millions of global cases annually and a substantial economic burden. It notes that no approved treatments or vaccines are currently available for norovirus infection.

Within this context, Cocrystal positions CDI‑988 as a central program. The company reports:

• CDI‑988 is an oral broad‑spectrum protease inhibitor designed with its proprietary structure‑based platform.
• Preclinical data show broad‑spectrum antiviral activity against multiple norovirus genogroups, including strains such as GII.4, GII.17 and GII.2.
• Phase 1 clinical data in healthy subjects demonstrated a favorable safety and tolerability profile across single‑ascending and multiple‑ascending dose cohorts, including a high‑dose 1200 mg cohort.
• The U.S. Food and Drug Administration (FDA) has provided Investigational New Drug (IND) clearance and a Study May Proceed Letter for a Phase 1b human challenge study evaluating CDI‑988 as both a preventive and treatment for norovirus infections.
• An Institutional Review Board (IRB) at Emory University School of Medicine has approved a Phase 1b randomized, double‑blind, placebo‑controlled human challenge study in healthy adults, with planned infection using a norovirus GII.2 strain and endpoints including incidence of clinical symptoms, viral shedding, disease severity, safety and pharmacokinetics.

Cocrystal’s communications also discuss the potential use of CDI‑988 as a prophylactic agent in semi‑closed environments such as hospitals, nursing homes, cruise ships, schools, disaster relief sites and military settings, reflecting the company’s stated goal of addressing norovirus outbreaks and chronic norovirus infection in immunocompromised patients.

Influenza programs and external validation

The company highlights influenza as another major area of focus. It notes that influenza is a significant global health threat, with seasonal epidemics and the risk of highly pathogenic avian strains, and that resistance to existing influenza antivirals is a concern.

Cocrystal’s disclosures indicate that:

• Oral CC‑42344 has completed a Phase 1 study with favorable safety and tolerability.
• A Phase 2a human challenge study in influenza A‑infected subjects has been conducted in the United Kingdom under authorization from the UK Medicines and Healthcare Products Regulatory Agency (MHRA). Enrollment was completed, and the study showed a favorable safety and tolerability profile with no serious adverse events and no drug‑related discontinuations, while efficacy analyses were not reported due to trial conduct issues.
• In vitro studies have shown that CC‑42344 inhibits the activity of highly pathogenic avian influenza A (H5N1) PB2 proteins, including strains identified in humans exposed to infected dairy cows and a 2024 Texas H5N1 avian influenza strain.
• The company has received non‑dilutive NIH SBIR funding to advance a separate influenza A/B polymerase complex program, which it views as further validation of its structure‑based discovery platform.

Cocrystal has also reported preclinical progress with inhaled CC‑42344, including development of a dry powder formulation and completion of toxicology studies, with preclinical data indicating high pulmonary exposure and a long half‑life.

Coronavirus and other respiratory virus work

In addition to norovirus and influenza, Cocrystal’s public statements describe a program targeting coronaviruses and other respiratory viruses. The company believes that by focusing on viral replication enzymes and proteases, it may be possible to develop treatments for diseases caused by coronaviruses, including SARS‑CoV‑2, SARS and MERS.

CDI‑988 is central to this effort as well. The company reports that CDI‑988 has demonstrated:

• Potent in vitro pan‑viral activity against common human coronaviruses
• Activity against rhinoviruses and respiratory enteroviruses
• Favorable safety and pharmacokinetic properties in early‑stage clinical studies

Cocrystal’s disclosures also reference the broader market opportunity for COVID‑19 therapeutics, while emphasizing its focus on the underlying viral replication targets rather than on any single virus strain.

Capital markets activity and listing

Cocrystal Pharma’s common stock is listed on The Nasdaq Capital Market under the symbol COCP. The company has filed registration statements and multiple Form 8‑K reports describing capital‑raising transactions, including registered direct offerings and private placements of common stock and warrants. These filings detail securities purchase agreements, investor warrants, placement agent warrants and related registration obligations.

The company’s S‑1 registration statement filed in 2025 relates to the resale of shares issuable upon exercise of outstanding warrants that were originally issued in a private placement concurrent with a registered direct offering. Cocrystal states that it will not receive proceeds from the resale by selling stockholders, although it may receive proceeds if warrants are exercised for cash.

Business model and operating focus

Based on its SEC filings and press releases, Cocrystal’s business model centers on:

• Discovery and development of small‑molecule antiviral therapeutics targeting viral replication mechanisms
• Use of a proprietary structure‑based platform to design candidates that bind to conserved viral enzyme regions
• Advancement of candidates through preclinical studies, Phase 1 safety studies and human challenge or other early‑stage clinical trials
• Pursuit of non‑dilutive funding, such as NIH SBIR awards, alongside equity financings under Nasdaq rules

The company emphasizes that it is a clinical‑stage enterprise, which means its drug candidates are under investigation and have not received marketing approval. Its public communications include cautionary notes regarding forward‑looking statements and the risks inherent in drug development, regulatory review, funding and broader economic conditions.

Regulatory and disclosure practices

Cocrystal regularly files Form 8‑K reports to disclose material events, including:

• Results of operations and financial condition for quarterly periods
• Entry into material definitive agreements related to financings
• Receipt of regulatory clearances, such as FDA IND and Study May Proceed letters
• Receipt of government grants, such as NIH SBIR awards
• Presentations of clinical data at scientific meetings

These filings often incorporate or reference press releases that provide additional detail on clinical progress, financing terms and strategic priorities. The company notes in several filings that certain information is furnished rather than filed for purposes of the Securities Exchange Act of 1934, and that forward‑looking statements are subject to risks and uncertainties.

FAQs about Cocrystal Pharma, Inc. (COCP)

What does Cocrystal Pharma, Inc. do?
Cocrystal Pharma, Inc. is a clinical‑stage biotechnology company that discovers and develops novel antiviral therapeutics targeting the replication process of viruses such as influenza viruses, coronaviruses (including SARS‑CoV‑2), noroviruses and hepatitis C viruses. It uses a proprietary structure‑based drug discovery platform to design small‑molecule antivirals.

What is Cocrystal’s main technology platform?
The company describes a structure‑based drug discovery platform that integrates computational chemistry, medicinal chemistry, X‑ray crystallography, structural biology, enzymology and virology expertise. By determining three‑dimensional structures of inhibitor–enzyme complexes at near‑atomic resolution, Cocrystal designs drug candidates that bind to highly conserved regions of viral enzymes involved in replication.

Which viral diseases does Cocrystal target?
According to its public disclosures, Cocrystal focuses on influenza viruses, coronaviruses (including SARS‑CoV‑2), noroviruses and hepatitis C viruses. It aims to address serious and/or chronic viral diseases, including those where existing treatments face resistance or where no approved therapies or vaccines exist.

What is CDI‑988?
CDI‑988 is described by the company as an oral, broad‑spectrum pan‑viral 3CL protease inhibitor developed using its structure‑based platform. It is being evaluated as a potential prevention and treatment for norovirus infections and as a treatment for coronavirus infections. Cocrystal has reported favorable Phase 1 safety and tolerability data and has received FDA clearance and IRB approval to conduct a Phase 1b human challenge study in norovirus.

What is CC‑42344?
CC‑42344 is an oral PB2 inhibitor targeting pandemic and seasonal influenza A. The company reports that CC‑42344 has shown in vitro activity against multiple influenza A strains, including those resistant to approved antivirals, and has completed a Phase 1 study with favorable safety and tolerability. A Phase 2a human challenge study in influenza A‑infected subjects has been conducted, with safety data reported as favorable and efficacy analyses not reported due to trial conduct issues.

Does Cocrystal have an inhaled antiviral program?
Yes. Cocrystal has disclosed an inhaled CC‑42344 program for prophylaxis and treatment of pandemic and seasonal influenza A. Preclinical studies have shown high pulmonary exposure and a long half‑life, and the company has developed a dry powder inhalation formulation and completed toxicology studies.

What external validation has Cocrystal received for its influenza work?
The company reports receiving a Small Business Innovation Research (SBIR) Phase I award from the NIH’s NIAID to support development of a novel, oral, broad‑spectrum antiviral candidate targeting the influenza A/B polymerase complex. Cocrystal views this non‑dilutive funding as validation of its structure‑based platform for antiviral drug discovery.

How does Cocrystal describe its business segment and operating model?
Cocrystal states that it operates in one segment and uses cash flows as the primary measure to manage its business. Its operating model is centered on discovery and clinical development of antiviral drug candidates using its proprietary platform, supported by a combination of equity financings and non‑dilutive funding such as government grants.

On which exchange does Cocrystal trade and under what symbol?
Cocrystal Pharma, Inc.’s common stock is listed on The Nasdaq Capital Market under the trading symbol COCP, as disclosed in its SEC filings.

Where can investors find official information about Cocrystal?
Investors can review Cocrystal’s SEC filings, including Forms 10‑K, 10‑Q, 8‑K and registration statements such as Form S‑1 and Form S‑3, which provide detailed information on the company’s business, risk factors, financial condition, capital markets activity and clinical programs.