Cocrystal(COCP)

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Cocrystal(COCP) - 2024 Q4 - Annual Results
2025-03-31 12:30
Financial Performance - Cocrystal Pharma reported a net loss of $17.5 million for 2024, a decrease of $3.1 million compared to the net loss of $18.0 million in 2023[10]. - Net loss narrowed to $17,504 million in 2024 compared to a net loss of $17,984 million in 2023, showing an improvement of approximately 2.6%[19]. - Net loss per common share improved to $1.72 in 2024 from $1.87 in 2023, reflecting a decrease of about 8.0%[19]. - Total operating expenses decreased to $17,878 million in 2024 from $18,559 million in 2023, a reduction of approximately 3.7%[19]. Research and Development - Research and development (R&D) expenses for 2024 were $12.5 million, down from $15.2 million in 2023, primarily due to the timing of clinical study costs[9]. - Research and development expenses were $12,537 million in 2024, down from $15,169 million in 2023, representing a decrease of about 17.4%[19]. - Cocrystal's oral PB2 inhibitor CC-42344 is being evaluated for its potential to treat seasonal influenza A and pandemic avian influenza, with a Phase 2a study ongoing[3]. - The company plans to initiate a norovirus human challenge study in the U.S. in 2025 to evaluate the oral pan-viral protease inhibitor CDI-988[2]. Market Potential - The global COVID-19 therapeutics market is projected to exceed $16 billion annually by the end of 2031, highlighting the market potential for Cocrystal's antiviral products[8]. - Norovirus is responsible for an estimated 685 million cases and 50,000 child deaths worldwide each year, with a societal cost of $60 billion[6]. - Cocrystal's antiviral drug compounds target multibillion-dollar markets, addressing critical gaps in global health[3]. Cash and Capital - As of December 31, 2024, unrestricted cash was $9.9 million, a significant decrease from $26.4 million as of December 31, 2023[11]. - The company had working capital of $9.2 million and 10.2 million common shares outstanding as of December 31, 2024[11]. - Weighted average number of common shares outstanding increased to 10,174 million in 2024 from 9,651 million in 2023, an increase of approximately 5.4%[19]. Other Financial Metrics - General and administrative (G&A) expenses decreased to $5.3 million in 2024 from $6.0 million in 2023, attributed to reduced insurance costs[9]. - General and administrative expenses decreased to $5,341 million in 2024 from $5,990 million in 2023, a reduction of approximately 10.9%[19]. - Interest income, net decreased to $537 million in 2024 from $640 million in 2023, a decline of about 16.1%[19]. - Foreign exchange loss increased to $163 million in 2024 from $65 million in 2023, indicating a rise of approximately 150.8%[19]. - Total other income, net decreased to $374 million in 2024 from $575 million in 2023, a decline of about 34.9%[19]. - Legal settlement expenses were not applicable in 2024 compared to a $2,600 million expense in 2023, indicating a significant reduction[19].
Cocrystal Pharma Reports 2024 Financial Results and Provides Updates on its Antiviral Drug-Development Programs
Newsfilter· 2025-03-31 12:00
Antiviral Product Pipeline Overview "We are optimistic that our oral PB2 inhibitor CC-42344 will have potential as a treatment for seasonal influenza A infection and pandemic avian influenza," he added. "Following the unexpected low infection rate from the Phase 2a challenge study that precluded us from obtaining meaningful human efficacy data, we plan to continue the influenza challenge study." "News coverage in recent months of norovirus and avian flu outbreaks underscore the urgent need for new antiviral ...
Cocrystal Pharma to Participate in a Fireside Chat at the Zacks SCR Life Sciences Virtual Investor Forum on March 13, 2025
Globenewswire· 2025-03-06 13:00
BOTHELL, Wash., March 06, 2025 (GLOBE NEWSWIRE) -- Cocrystal Pharma, Inc. (Nasdaq: COCP) announces that management will participate in a fireside chat at the Zacks SCR Life Sciences Virtual Investor Forum on Thursday, March 13, 2025 at 11:30 a.m. Eastern time (8:30 a.m. Pacific time). The fireside chat will be hosted by Zacks Small Cap Research Senior Analyst David Bautz, PhD. Pre-register for Cocrystal’s virtual presentation is available on the Cocrystal website here. Investors will have the opportunity to ...
Cocrystal Pharma Reports Phase 1 Results with Oral, Broad-Acting Antiviral Drug CDI-988 for Prophylaxis and Treatment of Norovirus, Coronaviruses and Other Viral Infections
Globenewswire· 2025-01-08 13:00
Data show favorable safety and tolerability with dosing up to 800 mg for 10 daysPlans to initiate human challenge study in 2025 in norovirus-infected subjects BOTHELL, Wash., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Cocrystal Pharma, Inc. (Nasdaq: COCP) (“Cocrystal” or the “Company”) announces favorable safety and tolerability results at dosing up to 800 mg per day for 10 consecutive days from the multiple-ascending dose (MAD) portion of the ongoing Phase 1 study with its oral protease inhibitor CDI-988, the first ...
Cocrystal(COCP) - 2024 Q3 - Quarterly Results
2024-11-13 20:30
Financial Performance - The net loss for Q3 2024 was $4.9 million, or $0.49 per share, compared to a net loss of $4.2 million, or $0.41 per share in Q3 2023[13]. - The net loss for the first nine months of 2024 was $14.2 million, or $1.40 per share, compared to a net loss of $13.5 million, or $1.43 per share in the first nine months of 2023[14]. - Net loss for the three months ended September 30, 2024, was $4,939,000, compared to a net loss of $4,165,000 for the same period in 2023, representing an 18.6% increase in loss[20]. - Net loss per common share for the three months ended September 30, 2024, was $(0.49), compared to $(0.41) for the same period in 2023[20]. Research and Development - Research and development (R&D) expenses for Q3 2024 were $3.2 million, a decrease of 23.8% from $4.2 million in Q3 2023[12]. - For the first nine months of 2024, R&D expenses totaled $10.5 million, slightly down from $10.9 million in the same period of 2023[14]. - Research and development expenses for the three months ended September 30, 2024, were $3,242,000, a decrease of 22.7% from $4,194,000 in the same period of 2023[20]. - The company expects to report topline results from the Phase 2a influenza A challenge study by year-end 2024[2]. - Cocrystal is on track to report topline results from the Phase 1 study of CDI-988 in late 2024 or early 2025[3]. - The company plans to file an IND application in 2025 for a late-stage study of CC-42344 in the U.S.[6]. Cash and Assets - Unrestricted cash as of September 30, 2024, was $13.0 million, down from $26.4 million as of December 31, 2023[15]. - Cash balance decreased to $13,020,000 as of September 30, 2024, down 50.7% from $26,353,000 on December 31, 2023[19]. - Total current assets decreased to $14,256,000 as of September 30, 2024, down 51% from $29,091,000 on December 31, 2023[19]. - Total stockholders' equity decreased to $12,703,000 as of September 30, 2024, down 51.8% from $26,384,000 on December 31, 2023[19]. Liabilities and Expenses - Total liabilities decreased to $3,530,000, a reduction of 27.6% from $4,875,000 as of December 31, 2023[19]. - Total operating expenses increased to $5,042,000 for the three months ended September 30, 2024, up 13.5% from $4,443,000 in the same period of 2023[20]. - Interest income for the three months ended September 30, 2024, was $111,000, a decrease of 65.3% from $320,000 in the same period of 2023[20]. Market Insights - Norovirus causes approximately 685 million cases and 50,000 child deaths annually, with a societal cost of $60 billion[8]. - The global COVID-19 therapeutics market is projected to exceed $16 billion by the end of 2031[10].
Cocrystal(COCP) - 2024 Q3 - Quarterly Report
2024-11-13 13:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38418 COCRYSTAL PHARMA, INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | --- | --- | --- | --- | ...
Cocrystal Pharma to Highlight Near-term Clinical Milestones During Presentations at Two Upcoming Investment Conferences
GlobeNewswire News Room· 2024-08-19 20:05
BOTHELL, Wash., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Cocrystal Pharma, Inc.'s (Nasdaq: COCP) management announces its participation in the upcoming Virtual Investor Summit Microcap Forum in August and the H.C. Wainwright 26th Annual Global Investment Conference in September. "We look forward to showcasing key near-term clinical milestones at two upcoming investment conferences," said James Martin, CFO and co-CEO of Cocrystal. "We expect to report topline results in 2024 from our influenza A Phase 2a challenge ...
Cocrystal(COCP) - 2024 Q2 - Quarterly Results
2024-08-14 12:15
Exhibit 99.1 1 Cocrystal Pharma Reports Second Quarter 2024 Financial Results and Provides Updates on its Antiviral Drug-Development Programs ● Expects to report topline results in 2025 from Phase 2a influenza A human challenge study with oral CC-42344, including initial indication of virology ● In vitro testing shows CC-42344 inhibits the avian influenza A (H5N1) PB2 protein recently identified in U.S. dairy cows ● Expects to report topline results in late 2024 or early 2025 from Phase 1 study with oral CD ...
Cocrystal(COCP) - 2024 Q2 - Quarterly Report
2024-08-14 12:00
Research and Development - Total research and development expenses for the six months ended June 30, 2024, were $7,258,000, an increase of $550,000 compared to $6,708,000 for the same period in 2023, primarily due to ongoing clinical trials [82]. - Research and development expenses for the three months ended June 30, 2024, were $4,308,000, up from $2,801,000 in 2023, reflecting the advancement of the Influenza CC-42344 product candidate into a Phase 2a clinical trial [82]. - The company completed enrollment of 78 subjects in the Phase 2a human challenge study for oral CC-42344 in May 2024 [65]. - CC-42344 demonstrated excellent antiviral activity against influenza A strains, including avian pandemic strains and strains resistant to existing treatments [64]. - The company is developing inhaled CC-42344 for prophylactic treatment of influenza A infections, with preclinical data showing excellent antiviral activity [66]. - Oral CDI-988, a novel protease inhibitor for noroviruses and coronaviruses, is being evaluated in a Phase 1 study in Australia, with favorable safety results reported [67]. - The company has identified promising inhibitors targeting norovirus replication enzymes, with potential for effective treatment across all genogroups [77]. Market Opportunity - The global hepatitis C market is projected to remain significant, with an estimated 50 million people worldwide having chronic HCV infections [79]. - CC-31244, an HCV NNI, is being developed for ultra-short treatment regimens of four to six weeks, aiming for a high sustained virologic response [80]. - Influenza is responsible for approximately $10.4 billion in direct medical costs annually in the U.S., highlighting the significant market opportunity for effective antiviral treatments [68]. Financial Performance - Interest income for the six months ended June 30, 2024, was $371,000, a significant increase from $140,000 for the same period in 2023, representing a growth of 164.3% [84]. - Foreign exchange loss for the six months ended June 30, 2024, was $64,000, compared to $45,000 for the same period in 2023, indicating a 42.2% increase [85]. - Net loss for the six months ended June 30, 2024, was $9,299,000, slightly improved from a net loss of $9,355,000 for the same period in 2023 [87]. - Net cash used in operating activities decreased to $8,202,000 for the six months ended June 30, 2024, from $8,659,000 in the same period of 2023, a reduction of 5.3% [87]. - The company had $18,143,000 in unrestricted cash as of June 30, 2024, which is expected to sustain operations for more than the next 12 months [88]. - The company has not yet established a source of revenue sufficient to cover its operating costs and has incurred operating losses since inception [89]. - The company has not conducted any sales under the At-The-Market Offering Agreement during the six months ended June 30, 2024, despite having the capacity to issue up to $10,000,000 in shares [90]. - Future profitability is contingent upon the successful development and commercialization of product candidates, with no assurance that profitability will be achieved [91]. - The company has incurred operating losses and negative operating cash flows on an annual basis since inception, indicating ongoing financial challenges [89].
Cocrystal Pharma Reports Favorable Results from Single-Ascending Dose Cohorts of Phase 1 Study with CDI-988, its Oral Pan-Viral Norovirus/Coronavirus Protease Inhibitor
Newsfilter· 2024-07-18 12:00
BOTHELL, Wash., July 18, 2024 (GLOBE NEWSWIRE) -- Cocrystal Pharma, Inc. (NASDAQ:COCP) ("Cocrystal" or the "Company") today reported favorable safety and tolerability results from the singleascending dose (SAD) cohorts of the Phase 1 study in healthy volunteers with CDI-988, its potent, oral, panviral protease inhibitor. CDI-988 was specifically designed and developed using Cocrystal's proprietary structure-based drug discovery platform technology as a broad-spectrum antiviral inhibitor to a highly conserve ...