Tuesday, August 16, 2022
Cocrystal Pharma (COCP)
2Q Reported With Influenza and COVID-19 Product Updates
Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.
Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
2Q Included One-Time Charges. Cocrystal reported a loss of $24.4 million or $(0.25) per share, including a write-off of goodwill for $19.1 million and a legal settlement expense of $1.6 million. Operating expenses excluding these charges were $3.7 million, compared with our estimated operating expenses of $3.8 million. The company ended the quarter with $51.0 million in cash.
Influenza Program Reported First Data With More Expected Later in 2022. The company reported that data from CC-42344, its oral PB2 inhibitor that blocks a polymerase enzyme needed for viral replication. Data from a single-ascending dose study supporting the once-daily dosing schedule. Additional results from the Phase 1 study enrolling healthy volunteers in Australia are expected to be announced later this year. …
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.
