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

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].