Cocrystal Pharma, Inc. - COCP STOCK NEWS

Cocrystal Pharma, Inc. (Nasdaq: COCP) reported Q1 2021 results, highlighting no revenues due to a collaboration transition with Merck. The company has $33.3 million in cash and plans to advance antiviral programs targeting COVID-19, influenza, and norovirus. Key updates include progress on the SARS-CoV-2 protease inhibitor CDI-45205 and the initiation of a Phase 1 study for influenza drug CC-42344. Cocrystal anticipates significant market opportunities with its antiviral pipeline, reinforced by a recent $36.4 million capital raise.

Cocrystal Pharma (Nasdaq: COCP) has successfully closed a public offering of 26 million shares at $1.54 each, raising approximately $40 million in gross proceeds. The funds will be allocated towards expanding its COVID-19 and Influenza treatment programs and general working capital. H.C. Wainwright & Co. served as the sole book-running manager for this offering, which was registered under Form S-3 with the SEC. This transaction indicates the company's strategy to bolster its antiviral drug development capabilities.

Cocrystal Pharma (Nasdaq: COCP) has entered an underwriting agreement with H.C. Wainwright & Co. to sell 26 million shares of common stock at $1.54 each, projected to raise approximately $40 million before expenses. This offering aims to fund the expansion of its COVID-19 and influenza treatment programs and general corporate purposes. The offering will close around May 7, 2021, pending customary closing conditions.

The shares are being offered under a previously declared effective shelf registration.

Cocrystal Pharma (Nasdaq: COCP) advances its antiviral drug development targeting coronaviruses, including SARS-CoV-2. The company is developing protease inhibitors, including lead candidate CDI-45205, which showed good bioavailability and synergistic effects with remdesivir. Cocrystal aims to scale up production for clinical trials while exploring multiple administration routes. The firm is also working on new SARS-CoV-2 inhibitors. Despite progress, the company acknowledges risks tied to the COVID-19 pandemic affecting its programs and clinical trials.

Cocrystal Pharma (COCP) reports significant advancements in its antiviral pipeline and ends 2020 with over $33 million in cash. The company progressed in its COVID-19 program with the candidate CDI-45205, and made strides in its influenza and norovirus programs. Revenues for 2020 were $2 million, a decline from $6.6 million in 2019, primarily due to Merck assuming responsibility for influenza A/B development. The net loss for 2020 was $9.6 million, or $0.17 per share, compared to a greater loss in 2019, signifying improved financials amid ongoing R&D expenditures.

Cocrystal Pharma (Nasdaq: COCP) has extended its drug discovery collaboration with HitGen and InterX until August 2023. The collaboration, initiated in September 2017, aims to leverage innovative technologies for developing antiviral therapeutics targeting influenza, SARS-CoV-2, hepatitis C, and noroviruses. The partnership utilizes HitGen’s DNA Encoded Library (DEL) technology alongside Cocrystal's structure-based drug discovery and InterX’s computational science to identify promising drug candidates. CEO Gary Wilcox emphasizes the collaboration's potential to enhance Cocrystal's pipeline with high-value compounds.

Cocrystal Pharma (Nasdaq: COCP), a clinical-stage biotechnology company, announced it will hold one-on-one investor meetings at the Virtual 33rd Annual Roth Conference from March 15-17, 2021. The company specializes in developing antiviral therapeutics targeting various viruses, including SARS-CoV-2 and hepatitis C. A pre-recorded webcast of Cocrystal's presentation is available on their website. Interested investors can arrange virtual meetings through Roth Capital Partners or LHA Investor Relations.

Cocrystal Pharma (Nasdaq: COCP) will present an overview and hold virtual investor meetings at the H.C. Wainwright Global Life Sciences Virtual Conference on March 9-10, 2021. The conference will showcase the company's efforts in discovering and developing innovative antiviral therapeutics for various viruses, including influenza and SARS-CoV-2. Access to the webcast presentation is available through registration for the conference, starting from March 9 at 7:00 a.m. Eastern time to March 10 at 9:00 p.m. Eastern time.

Cocrystal Pharma (Nasdaq: COCP) announced its participation in the H.C. Wainwright Global Life Sciences Virtual Conference on January 9-10, 2021, where management will present a company overview and engage in virtual investor meetings. Interested participants can access the presentation by registering for the conference. The webcast will be available from March 9, 2021, at 7:00 a.m. Eastern time to March 10, 2021, at 9:00 p.m. Eastern time. Cocrystal specializes in developing antiviral therapeutics targeting various viruses, including SARS-CoV-2 and influenza.