Cocrystal(US:COCP)2023-11-12 16:00Financial Performance - Net loss for the nine months ended September 30, 2023, was $13,520,000, compared to a net loss of $34,336,000 for the same period in 2022, reflecting a significant reduction in losses[167] - Net cash used in operating activities was $11,340,000 for the nine months ended September 30, 2023, down from $16,542,000 in the same period in 2022[168] - The company reported no impairment for the nine months ended September 30, 2023, compared to a non-cash impairment expense of $19,092,000 in the same period of 2022[151] Research and Development - Total research and development expenses for the nine months ended September 30, 2023, were $10,902,000, an increase of $1,797,000 compared to $9,105,000 for the same period in 2022[149] - Research and development efforts are focused on three areas, including the CC-42344 Phase 2a clinical trial for pandemic and seasonal influenza A[154] - The company has initiated a Phase 1 clinical trial for CDI-988, with dosing of the first subjects announced in September 2023[157] Administrative Expenses - General and administrative expenses for the nine months ended September 30, 2023, were $4,591,000, a slight increase of $61,000 from $4,530,000 in 2022[163] Financial Position - The company had $29,738,000 in unrestricted cash as of September 30, 2023, sufficient to maintain planned operations for more than the next 12 months[179] - The company raised $4,000,000 in a private placement sale of 2,030,458 shares of common stock on April 4, 2023[169] - The fair value of outstanding warrants resulted in no change for the nine months ended September 30, 2023, compared to a change of $12,000 in the same period of 2022[164]