Cocrystal Pharma Inc (COCP)

Cocrystal Pharma received IRB approval from Emory University School of Medicine to initiate a Phase 1b human challenge study with CDI-988 for norovirus. The company reported its Third Quarter 2025 financial results and provided updates on its antiviral drug-development programs. Cocrystal Pharma completed a private placement where insiders purchased $1.03 million in common shares and received unregistered warrants. Cocrystal Pharma received an SBIR award from the NIH to advance its influenza inhibitor program. Cocrystal Pharma announced a registered direct offering priced at-the-market, consisting of 2.76 million shares of common stock at $1.70 per share, with concurrent private placement of unregistered warrants. The company reported its Second Quarter 2025 financial results, including favorable Phase 1 safety and tolerability data for CDI-988. Cocrystal Pharma presented favorable safety and tolerability Phase 1 data from all CDI-988 doses at the 2025 Military Health System Research Symposium (MHSRS). The company received FDA IND clearance for a challenge study of its oral broad-spectrum protease inhibitor CDI-988 for norovirus prevention and treatment.

Demand seasonality for Cocrystal Pharma's products and services is likely influenced by the nature of the viral diseases they target. Influenza outbreaks primarily occur during the winter months. Norovirus outbreaks are often more prevalent in colder months in temperate climates. The demand for coronavirus treatments can be influenced by pandemic waves and the emergence of new variants. The demand for their products, once commercialized, would likely exhibit some level of seasonality or episodic surges corresponding to disease outbreaks.

Cocrystal Pharma, Inc. is a clinical-stage biotechnology company focused on discovering and developing novel antiviral therapeutics for serious and chronic viral diseases. The company utilizes structure-based technologies to create antiviral drugs, including CC-42344, an oral PB2 inhibitor in Phase 2a clinical trials for influenza A; CDI-988, an oral pan-viral protease inhibitor in Phase 1 clinical trials for noroviruses and coronaviruses; and CC-31244, a Hepatitis C virus non-nucleoside polymerase inhibitor that has completed Phase 2a clinical trials. The company also has collaboration agreements with Merck Sharp & Dohme Corp. and Kansas State University Research Foundation.

Cocrystal Pharma, Inc. is headquartered in Bothell, Washington, and maintains offices in Miami, Florida, and Melbourne, Australia.

Cocrystal Pharma's brand reputation appears generally positive, particularly concerning its progress in drug development. The company has received positive attention for advancing its antiviral candidates, such as the IRB approval for the Phase 1b norovirus challenge study with CDI-988 and the receipt of an NIH SBIR award. The company faced a setback with its Phase 2a influenza A challenge study (CC-42344) in November 2025, where efficacy analyses were not reported due to issues in trial conduct.

Cocrystal Pharma, Inc. has a mixed ownership structure, with a significant portion held by insiders. Major institutional shareholders include Vanguard Group Inc, Renaissance Technologies Llc, Geode Capital Management, Llc, BlackRock, Inc., Neuberger Berman Group LLC, Jane Street Group, Llc, and State Street Corp. Key individual insider owners include Gary Wilcox, Opko Health Inc, Raymond F. Schinazi, Jane Ph D. Hsiao, Steven D. Rubin, Phillip Md Et Al Frost, Fred Hassan, Jeffrey A. Meckler, and Roger D. Kornberg. Cocrystal Pharma insiders have bought more of their company's stock than they have sold in the past three months.