Cocrystal Pharma Reports First Quarter 2025 Financial Results and Provides Updates on its Antiviral Drug-Development Programs

Core Viewpoint - Cocrystal Pharma is advancing its antiviral product pipeline, particularly focusing on CDI-988, a novel oral pan-viral protease inhibitor targeting norovirus and coronaviruses, with promising in vitro results and plans for human challenge studies [2][9][10]. Antiviral Product Pipeline Overview - The company utilizes a structure-based drug discovery platform to develop broad-spectrum antivirals that target conserved regions of viral enzymes, enhancing efficacy against mutations and reducing side effects [3]. - CDI-988 has shown superior antiviral activity against major norovirus strains, including GII.17 and GII.4, and is positioned as a first-in-class treatment [2][9]. Influenza Programs - Influenza poses a significant global health threat, with approximately 1 billion cases and up to 650,000 deaths annually [4]. - Cocrystal's CC-42344, a PB2 inhibitor, has demonstrated excellent in vitro activity against various influenza A strains, including those resistant to existing antivirals [4][8]. Norovirus Program - Norovirus is responsible for an estimated 21 million cases in the U.S. annually, leading to significant healthcare costs and hospitalizations [6]. - There is currently no effective treatment or vaccine for norovirus, highlighting the potential market opportunity for CDI-988 [5][6]. SARS-CoV-2 and Other Coronavirus Program - CDI-988 has shown potent in vitro activity against SARS-CoV-2 and other coronaviruses, with the global COVID-19 therapeutics market projected to exceed $16 billion annually by 2031 [7]. Financial Results - For Q1 2025, research and development expenses were $1.4 million, down from $3.0 million in Q1 2024, primarily due to reduced personnel costs [11]. - The net loss for Q1 2025 was $2.3 million, or $0.23 per share, compared to a net loss of $4.0 million, or $0.39 per share, in Q1 2024 [12]. - As of March 31, 2025, the company reported unrestricted cash of $6.9 million, down from $9.9 million at the end of 2024 [13].