Movers and SHAKERS
Cocrystal Pharma Inc. (COCP)
2Q21 Reported With Clinical Milestones For 2021-22
Cocrystal Pharma Inc is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, hepatitis C viruses, and noroviruses. The company employs structure-based technologies and Nobel Prize-winning expertise to create first-and best-in-class antiviral drugs. It is developing CC-31244, an investigational, oral, broad-spectrum replication inhibitor called a non-nucleoside inhibitor (NNI). CC-31244 is currently being evaluated in a Phase 2a study for the treatment of hepatitis C as part of a cocktail for ultra-short therapy of 4 to 6 weeks.
Robert LeBoyer, Senior Research Analyst, Noble Capital Markets, Inc.
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Cocrystal Reports 2Q21 With Clinical Trial Milestones. Cocrystal Pharmaceuticals reported 2Q21 results of a loss of $3.8 million or $(0.04) per share, compared with our expected loss of $3.1 million or (0.04) per share. Differences from our estimates were largely due to higher Research expenses for product development and lower General Expenses. The company ended the quarter with $67.1 million in cash. Based on our estimates for research programs and net losses, we expect this cash to last into 2024.
COVID-19 Program Has Two Preclinical Studies. Cocrystal has two programs developing protease inhibitors against the virus that causes COVID-19, SARS-CoV-2. The company plans to hold a pre-IND meeting with the FDA for CDI-45205 later this year, with an IND enabling study in 1H22 using intranasal/pulmonary delivery. A pre-IND for an oral inhibitor in is expected in 1H22, followed by an IND-enabling ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.