Cocrystal(US:COCP)2025-05-15 12:30Antiviral Development - Cocrystal Pharma is focused on developing antiviral therapeutics for norovirus, coronavirus, and influenza, utilizing structure-based technologies[91] - The company has received authorization for a Phase 2a human challenge study with oral CC-42344 for influenza A, completing enrollment of 78 subjects[97] - CC-42344 demonstrated excellent in vitro antiviral activity against various influenza A strains, including those resistant to Tamiflu® and Xofluza®[95] - CDI-988, a novel protease inhibitor, is being evaluated for safety and tolerability in a Phase 1 study, with favorable results reported from single-ascending dose cohorts[101][103] - Noroviruses cause an estimated 21 million cases of acute gastroenteritis annually in the U.S., with no effective treatment currently available[108] - The company is developing broad-spectrum influenza antivirals targeting replication enzymes of seasonal and pandemic influenza A and B strains[100] - Cocrystal Pharma's research and development efforts are primarily focused on addressing unmet medical needs in viral diseases[93] - The global HCV market is significant, with an estimated 58 million people having chronic HCV infections, and the company aims to develop ultra-short treatment regimens of four to six weeks[116][117] - CC-31244 is a potential best-in-class pan-genotypic inhibitor for HCV, with favorable safety results from previous studies and ongoing efforts to find a partner for further development[118][119] Financial Performance - Total research and development expenses decreased from $2,950,000 in Q1 2024 to $1,360,000 in Q1 2025, a reduction of approximately 54%[121] - General and administrative expenses decreased from $1,208,000 in Q1 2024 to $981,000 in Q1 2025, a reduction of about 19%[123] - Net loss for Q1 2025 was $2,301,000, compared to a net loss of $3,956,000 in Q1 2024, representing a decrease in loss of approximately 42%[127] - Net cash used in operating activities decreased from $4,503,000 in Q1 2024 to $2,939,000 in Q1 2025, a reduction of about 35%[128] - The company had $6,921,000 in unrestricted cash as of March 31, 2025, which is expected to be insufficient to cover working capital needs for the next 12 months[131] - Interest income decreased from $220,000 in Q1 2024 to $37,000 in Q1 2025, a decline of approximately 83%[124] - Foreign exchange gain of $3,000 was recorded in Q1 2025, compared to a foreign exchange loss of $18,000 in Q1 2024[125] - No cash was used for investing activities in Q1 2025, compared to $8,000 used in Q1 2024[129] - The company has not achieved annual profitability since inception and continues to incur operating losses[133] - The company intends to fund future operations through additional private or public equity offerings and strategic partnerships[136] Study Protocol and Adjustments - The company is in discussions to potentially amend the Phase 2a study protocol for CC-42344 due to low influenza infection rates among participants[98]