Antiviral Development - Cocrystal Pharma is focused on developing antiviral therapeutics for serious viral diseases, utilizing unique structure-based technologies[86]. - The influenza program includes CC-42344, which has shown in vitro efficacy against H5N1 avian influenza A strain with an EC50 of 0.003 µM[91]. - The Phase 2a study of oral CC-42344 demonstrated a favorable safety profile with no serious adverse events (SAEs) reported[93]. - Cocrystal is developing CDI-988 as a broad-spectrum antiviral for noroviruses and coronaviruses, with favorable safety results from Phase 1 studies[95][97]. - CDI-988's Phase 1 multiple-ascending dose (MAD) study showed that all doses from 100 mg to 1,200 mg were well tolerated[100]. - The company received FDA authorization for a Phase 1b challenge study of CDI-988, expected to begin in the first half of 2026[102]. - Cocrystal's HCV program targets the viral NS5B polymerase, aiming for ultra-short treatment regimens of four to six weeks[115]. - Cocrystal's influenza A/B program is material to the future development of a comprehensive antiviral program following the return of preclinical assets from Merck[94]. - The company continues to pursue novel antiviral compounds for coronavirus infections, targeting viral replication enzymes and protease[112]. Financial Performance - Total research and development expenses for the three months ended September 30, 2025, were $954,000, a decrease of $2,288,000 compared to $3,242,000 in 2024[120]. - Total research and development expenses for the nine months ended September 30, 2025, were $3,436,000, down from $10,500,000 in 2024, reflecting a decrease of $7,064,000[121]. - General and administrative expenses for the three months ended September 30, 2025, were $1,135,000, a decrease of $665,000 from $1,800,000 in 2024[123]. - General and administrative expenses for the nine months ended September 30, 2025, were $3,102,000, down from $4,148,000 in 2024, a decrease of $1,046,000[125]. - Net loss for the three months ended September 30, 2025, was $2,049,000, compared to a net loss of $4,939,000 in 2024[130]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $6,456,000, a decrease from $13,325,000 in 2024[131]. - The Company had $7,729,000 in unrestricted cash on September 30, 2025, which is not sufficient to support its working capital needs for the next 12 months[134]. - The Company sold 2,764,710 shares of common stock at $1.70 per share in a registered direct offering on September 12, 2025[138]. - The Company has incurred operating losses and negative operating cash flows on an annual basis since inception[135]. Clinical Development - The Company is seeking a partner for further clinical development of CC-31244 after completing Phase 2a trials[117].

Core Insights - Cocrystal Pharma, Inc. reported financial results for the three and nine months ended September 30, 2025, highlighting advancements in its antiviral product pipeline and financial position [1][14][16]. Financial Performance - Research and development (R&D) expenses for Q3 2025 were $954,000, a decrease from $3.2 million in Q3 2024, primarily due to the winding down of clinical study costs [14]. - General and administrative (G&A) expenses for Q3 2025 were $1.1 million, down from $1.8 million in Q3 2024, attributed to reduced compensation expenses [14]. - The net loss for Q3 2025 was $2.0 million, or $0.19 per share, compared to a net loss of $4.9 million, or $0.49 per share, in Q3 2024 [15]. - For the first nine months of 2025, R&D expenses totaled $3.4 million, down from $10.5 million in the same period of 2024, while G&A expenses were $3.1 million compared to $4.1 million [16]. - The net loss for the first nine months of 2025 was $6.4 million, or $0.61 per share, compared to a net loss of $14.2 million, or $1.40 per share, in the first nine months of 2024 [16]. - As of September 30, 2025, the company reported unrestricted cash of $7.7 million, down from $9.9 million at the end of 2024 [17]. Antiviral Product Pipeline - Cocrystal is advancing its antiviral product pipeline, including CDI-988, an oral broad-spectrum protease inhibitor targeting norovirus, with participant enrollment for a challenge study expected to begin in Q1 2026 [2][7]. - The company received a Small Business Innovation Research (SBIR) award from the NIH to support the development of a novel candidate targeting the influenza A/B polymerase complex [3][19]. - CDI-988 has shown in vitro activity against multiple norovirus strains and is being evaluated for both prevention and treatment of norovirus infections [11][20]. Norovirus Program - Norovirus causes approximately 685 million global cases annually, with a $60 billion economic impact, and is responsible for an estimated 21 million infections in the U.S. each year [6]. - The annual burden of norovirus in the U.S. is estimated at $10.6 billion, with significant hospitalization and mortality rates, particularly among children in developing countries [6]. Influenza Programs - Influenza poses a major global health threat, with approximately 1 billion cases reported annually and significant direct medical costs in the U.S. estimated at $10.4 billion [10]. - Cocrystal's CC-42344, a PB2 inhibitor, has shown promising in vitro activity against pandemic and seasonal influenza A strains, including those resistant to existing antivirals [12][19].

Core Insights - Cocrystal Pharma, Inc. has completed a private placement of units, raising $1.03 million through the sale of 743,024 shares at $1.39 per share, along with unregistered warrants for an additional potential $1.8 million if fully exercised [1][3] Group 1: Investment Details - The private placement includes unregistered warrants to purchase up to 1,486,048 shares at an exercise price of $1.24 per share, which are exercisable upon issuance and will expire in 27 months [1][3] - The total potential proceeds from the warrants, if fully exercised, could amount to approximately $1.83 million [3] Group 2: Key Investors - The investors in this private placement include Cocrystal Directors Phillip Frost, Fred Hassan, Richard Pfenniger, and co-CEO and CFO James Martin, indicating strong confidence from the company's leadership [2] Group 3: Company Mission and Use of Proceeds - The company aims to utilize the net proceeds from this offering to support its clinical development programs, working capital, and general corporate purposes, reinforcing its commitment to advancing antiviral therapies [3][6] - Cocrystal Pharma focuses on developing innovative antiviral treatments for diseases such as influenza, viral gastroenteritis, COVID, and hepatitis, employing unique structure-based technologies [6]

Core Insights - Cocrystal Pharma has received a $500,000 SBIR Phase I award from NIH to develop a novel oral broad-spectrum antiviral for influenza A and B [1][2] - The funding will support the characterization of lead candidate molecules targeting the influenza polymerase complex [1] - Successful completion of Phase I may lead to eligibility for a larger Phase II award for further development [2] Company Overview - Cocrystal Pharma is a clinical-stage biotechnology company focused on discovering and developing antiviral therapeutics targeting various viruses, including influenza and coronaviruses [6] - The company utilizes a structure-based drug discovery platform that provides insights for developing novel antiviral agents [5] Industry Context - Influenza poses a significant global health threat, with approximately 1 billion cases and up to 650,000 deaths annually [4] - The economic impact of influenza in the U.S. is estimated at $11.2 billion in direct and indirect costs each year [4]

Company Overview - Cocrystal Pharma, Inc. is a clinical-stage biotechnology company focused on developing innovative antiviral treatments for diseases such as influenza, viral gastroenteritis, COVID, and hepatitis [4] - The company utilizes unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs [4] Upcoming Event - James Martin, CFO and co-CEO of Cocrystal, will present a company overview at the Noble Capital Markets Emerging Growth Virtual Equity Conference on October 9, 2025, at 12:00 pm Eastern time [1] - The presentation will include a question-and-answer session with the live virtual audience [1] Investor Engagement - A video webcast of the presentation will be available within 48 hours after the event and archived for 90 days on the company's website [2] - Mr. Martin will be available for virtual one-on-one meetings with registered, qualified investors throughout the conference [2]

As filed with the Securities and Exchange Commission on September 19, 2025 Registration No. 333-_______ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Cocrystal Pharma, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 2834 35-2528215 (I.R.S. Employer Identification Number) Approxim ...

Group 1 - Cocrystal Pharma, Inc. closed a registered direct offering, raising approximately $4.7 million from the sale of 2,764,710 shares at a price of $1.70 per share [1][3] - The company also issued unregistered warrants for the purchase of up to 5,529,420 shares at an exercise price of $1.50 per share, potentially adding approximately $8.3 million in gross proceeds if fully exercised [1][3] - The net proceeds from the offering will be used for working capital and general corporate purposes [3] Group 2 - H.C. Wainwright & Co. served as the exclusive placement agent for the offering [2] - The common stock was offered under a "shelf" registration statement effective since May 26, 2023, with a final prospectus supplement filed with the SEC [4] - The unregistered warrants were offered in a private placement and have not been registered under the Securities Act [5] Group 3 - Cocrystal Pharma is a clinical-stage biotechnology company focused on developing innovative antiviral treatments for diseases such as influenza, viral gastroenteritis, COVID, and hepatitis [7]

Group 1 - Cocrystal Pharma, Inc. (COCP) shares increased by 14.23% to $1.64 after announcing a registered direct offering of 2.76 million shares at $1.70 per share [1] - The company also announced a concurrent private placement of unregistered warrants to purchase up to 5.53 million shares at $1.50 per share [1] - The stock opened at $2.45 and traded within a range of $1.54 to $2.67, compared to a prior close of $1.44 on Nasdaq [1] Group 2 - Trading volume surged to 79.3 million shares, exceeding the average of 76,645 shares [2] - Cocrystal Pharma's stock trades within a 52-week range of $1.12 to $3.26 [2] - The closing of the offering is expected on or about September 15, 2025 [2]

Group 1 - Cocrystal Pharma, Inc. has entered into definitive agreements for the purchase and sale of 2,764,710 shares of its common stock at a price of $1.70 per share, with gross proceeds expected to be approximately $4.7 million [1][3] - In a concurrent private placement, the company will issue unregistered warrants to purchase up to 5,529,420 shares of common stock at an exercise price of $1.50 per share, potentially adding approximately $8.3 million in gross proceeds if fully exercised [1][3] - The offering is expected to close on or about September 15, 2025, subject to customary closing conditions [1] Group 2 - H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering [2] - The net proceeds from the offering are intended for working capital and general corporate purposes [3] Group 3 - The common stock is being offered under a "shelf" registration statement that was declared effective by the SEC on May 26, 2023 [4] - The unregistered warrants are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under the Securities Act [5] Group 4 - Cocrystal Pharma, Inc. is a clinical-stage biotechnology company focused on developing innovative antiviral treatments for diseases such as influenza, viral gastroenteritis, COVID, and hepatitis [7]

Core Insights - Cocrystal Pharma, Inc. announced significant progress in the development of CDI-988, a pan-viral protease inhibitor, which may serve as the first oral antiviral for norovirus prevention and treatment [1][2] Company Overview - Cocrystal Pharma, Inc. is a clinical-stage biotechnology company focused on developing innovative antiviral treatments for diseases such as influenza, viral gastroenteritis, COVID, and hepatitis [9] - The company utilizes unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs [9] Product Development - CDI-988 was designed using Cocrystal's proprietary structure-based drug discovery platform, demonstrating broad-spectrum antiviral activity against multiple norovirus genogroups, including GII.4 and GII.17 [3][6] - The Phase 1 study of CDI-988 has been completed, showing a favorable safety profile with no serious adverse events reported [4] - The U.S. FDA has granted clearance for a Phase 1b human challenge study to further evaluate CDI-988 as a potential prophylaxis and treatment for norovirus, expected to begin before the end of 2025 [2][4] Scientific Presentation - Dr. Sam Lee, President and co-CEO of Cocrystal, presented the Phase 1 data at the 9th International Calicivirus Conference, highlighting CDI-988's mechanism of action and its potential as a GI-targeted antiviral [1][2] - The drug exhibits high exposure in the small intestine, which is critical for targeting norovirus infections [2] Industry Context - Norovirus is the leading cause of viral gastroenteritis globally, responsible for significant healthcare costs estimated at $60 billion due to direct healthcare expenses and lost productivity [7] - The Calicivirus Conference serves as a platform for global experts to discuss advancements in calicivirus research, fostering collaboration and innovation in the field [5]