Tuesday, May 14, 2024
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, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Clinical Milestones Are On Schedule. Cocrystal reported 1Q loss of $4.0 million or $(0.39) per share. During the quarter, the company made progress on its clinical trials and reiterated upcoming milestones for its Phase 1 trial testing CDI-988 in norovirus and COVID-19 and its Phase 2a trial testing CC-42344 in influenza. Cash on March 31, 2024, was $21.8 million.
Results Expected Shortly From The CC-42344 Influenza Virus Program. CC-42344 is an oral PB2 inhibitor in development against a broad spectrum of pandemic and seasonal influenza stains. Enrollment for the current Phase 2a human-challenge study was completed in May 2024. This trial is being conducted in the UK, with data expected to be reported in 2H24. The company has received FDA guidance on the IND filing requirements for Phase 2b trials. The IND filing is expected in 2H24.
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