Disclaimer: This is a simplified summary of a public company filing. See full disclaimer here.

Cocrystal Pharma, Inc.

CIK: 14124862 Annual ReportsLatest: 2025-03-31

10-K / March 31, 2025

Revenue:N/A
Income:-$17,500,000

10-K / April 17, 2024

Revenue:N/A
Income:-$17,984,000

10-K / March 31, 2025

Company Overview Summary

Company Name:

Cocrystal Pharma, Inc.

Industry:

Biotechnology / Pharmaceutical Research and Development

Core Focus:

  • Developing novel antiviral therapeutics targeting serious and chronic viral diseases
  • Employing structure-based drug discovery technologies combined with Nobel Prize-winning expertise
  • Creating first-in-class and best-in-class antiviral drugs with broad-spectrum activity

Technology and Approach:

  • Utilizing computational chemistry, medicinal chemistry, X-ray crystallography, and proprietary high-resolution structural information
  • Targeting essential viral replication enzymes, especially conserved regions, to develop inhibitors effective against multiple strains and mutants
  • Designing small molecule therapeutics with mechanisms intended to prevent resistance development

Target Viruses and Medical Needs:

  • Influenza Virus: Developing oral and inhaled PB2 inhibitors (e.g., CC-42344), including candidates effective against resistant strains; plans for broader formulations
  • Coronaviruses (including SARS-CoV-2 & MERS-CoV): Developing broad-spectrum protease inhibitors (e.g., CDI-988) for therapeutic use
  • Norovirus: Creating inhibitors targeting RNA-dependent RNA polymerase and protease; currently in Phase 1 clinical trials
  • HCV (Hepatitis C Virus): Developing ultra-short, pan-genotypic, oral antiviral regimens; targeting viral NS5B polymerase with non-nucleoside inhibitors

Employees & Operations:

  • As of December 31, 2024, the company employs 11 full-time employees; 8 are engaged in clinical advancement, research, and development activities
  • Also relies on contracts with clinical research organizations (CROs), CMOs, and consultants

Financials (2024):

  • Revenue: None (no products commercialized yet)
  • Net Loss: approximately $17.5 million
  • Total Assets (as of Dec 31, 2024): approx. $13.5 million
  • Cash & Restricted Cash: approx. $9.9 million
  • No revenue from product sales; expenses mainly from R&D and general administrative costs
  • R&D Expenses (2024): ~$12.5 million
  • Admin Expenses (2024): ~$5.3 million
  • Overall net loss: Slightly decreased from ~$18 million in 2023

Business Status:

  • In early clinical or preclinical stages for all product candidates
  • Has historically funded operations through equity offerings, including a private placement and an At-The-Market equity offering agreement
  • Actively pursuing further funding to support ongoing and future research and development programs

Key Collaborations:

  • Terminated collaboration with Merck (effected in March 2024)
  • Terminated licensing agreements with Kansas State University Research Foundation (effective March 2024)

Market & Competition:

  • Competing with large biotech and pharma companies like Roche, Gilead, Merck, Pfizer, Moderna, and others
  • Focused on broad-spectrum antivirals to stay ahead of viral mutations and resistance issues
  • No current regulatory approvals or commercial products

Summary:

Cocrystal Pharma, Inc. is a biotechnology company specializing in the discovery and development of antiviral drugs for viruses such as influenza, coronaviruses, norovirus, and hepatitis C. It employs cutting-edge, structure-based drug design techniques, with a small dedicated team of employees, and is in the preclinical/early clinical development stage with no revenue from sales yet. The company primarily funds its research through private equity, partnerships, and collaborations.