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COCP

Cocrystal Pharma, Inc.

COCP

Cocrystal Pharma, Inc. • NASDAQ
$1.06 ▲ 4.95% (+0.05)
Market Cap $10.86 M
52w High $3.26
52w Low $0.90
Dividend Yield 0%
P/E -1.14
Volume 34.11K
Outstanding Shares 10.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $2.076M ▼ $-2.049M ▲ 0% $-0.19 ▲ $-2.036M ▲
Q2-2025 $0 $2.087M ▲ $-2.055M ▲ 0% $-0.2 ▲ $-2.087M ▲
Q1-2025 $0 $981K ▼ $-2.301M ▲ 0% $-0.23 ▲ $-2.316M ▲
Q4-2024 $0 $3.202M ▲ $-3.266M ▲ 0% $-0.32 ▲ $-3.238M ▲
Q3-2024 $0 $1.8M $-4.939M 0% $-0.49 $-5.012M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.729M ▲ $10.446M ▲ $2.777M ▼ $7.669M ▲
Q2-2025 $4.766M ▼ $8.505M ▼ $3.172M ▼ $5.333M ▼
Q1-2025 $6.921M ▼ $10.659M ▼ $3.355M ▼ $7.304M ▼
Q4-2024 $9.86M ▼ $13.456M ▼ $3.933M ▲ $9.523M ▼
Q3-2024 $13.02M $16.233M $3.53M $12.703M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.049M ▲ $-1.549M ▲ $-12.563K ▼ $4.541M ▲ $2.963M ▲ $-1.561M ▲
Q2-2025 $-2.055M ▲ $-2.155M ▲ $0 $0 $-2.155M ▲ $-2.155M ▲
Q1-2025 $-2.301M ▲ $-2.939M ▲ $0 $0 $-2.939M ▲ $-2.939M ▲
Q4-2024 $-3.266M ▲ $-3.16M ▲ $0 $0 $-3.16M ▲ $-3.16M ▲
Q3-2024 $-4.939M $-5.123M $0 $0 $-5.123M $-5.123M

Five-Year Company Overview

Income Statement

Income Statement Cocrystal has essentially no product revenue yet, which is typical for a clinical‑stage biotech. Its income statement is driven almost entirely by research and operating expenses, leading to steady losses each year. The size of those losses has been modest in absolute terms but persistent, and per‑share figures look volatile mainly because of past reverse stock splits rather than big swings in the underlying business. Overall, it is still firmly in the “spending to develop drugs” phase rather than the “earning from products” phase.

Balance Sheet

Balance Sheet The balance sheet is very simple: mostly cash and little else, no debt, and equity that largely mirrors the cash balance. Cash and total assets have trended down over the last few years, signaling ongoing cash burn without offsetting income. The absence of borrowings reduces financial risk from leverage, but the shrinking asset base highlights the need for continued access to external funding over time. Shareholders have effectively been the primary source of capital so far, as reflected in the history of equity financing and reverse splits.

Cash Flow

Cash Flow Cash flow reflects a classic early‑stage biotech profile: cash going out to fund operations and R&D, with no cash coming in from products. Operating cash flow has been consistently negative but at a relatively small scale, and there is virtually no spending on physical assets, making the model highly asset‑light. Free cash flow is therefore negative for the same reason—ongoing operating costs—rather than heavy investment in equipment or facilities. Sustainability of the program depends on periodic capital raises rather than internal cash generation at this stage.

Competitive Edge

Competitive Edge Cocrystal competes in the crowded antiviral space but is trying to differentiate itself with a specialized structure‑based drug design platform and a tight focus on viral diseases with unmet needs, such as norovirus and resistant influenza strains. Its scientific leadership, including a Nobel Prize‑winning structural biologist, is a notable strength that can support credibility and partnership potential. On the other hand, as a small company with no approved products, it faces significant competition from much larger pharma firms and other biotechs pursuing similar targets. Until it has late‑stage data or commercial partners, its competitive position remains more promise than proven market presence.

Innovation and R&D

Innovation and R&D The company is heavily oriented around innovation, using its structure‑based platform to design antivirals that target highly conserved parts of viral enzymes, which could help against multiple strains and reduce resistance. Its lead programs—an oral candidate for norovirus and coronaviruses, and oral/inhaled candidates for influenza A—are designed to address areas where current treatments are limited or resistance is a concern. Support from grants and a clear pipeline strategy suggest a focused R&D engine rather than a scattered portfolio. The main uncertainty lies in clinical execution and whether trial results will confirm the scientific promise seen in early and lab‑based work.

Summary

Cocrystal is a very early‑stage antiviral developer: no revenue, consistent but modest‑scale losses, and a cash‑driven balance sheet with no debt but a gradually shrinking cash cushion. Its value proposition rests almost entirely on its drug discovery platform, intellectual property, and the potential of its lead antiviral candidates, rather than on current financial performance. The company’s scientific depth and focus on unmet needs are key strengths, while its small size, need for ongoing financing, and clinical and regulatory risks are the main constraints. Future clinical readouts, partnership deals, and funding arrangements will likely be far more important for its trajectory than backward‑looking financial metrics at this point.

NEWS

November 14, 2025 · 8:00 AM UTC

Cocrystal Pharma Reports Third Quarter 2025 Financial Results and Provides Updates on its Antiviral Drug-Development Programs

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October 30, 2025 · 8:00 AM UTC

Cocrystal Pharma Insiders Purchase $1.03 Million in Private Placement Priced At-the-Market Under Nasdaq Rules

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October 27, 2025 · 8:00 AM UTC

Cocrystal Pharma Receives NIH SBIR Award to Advance its Influenza Inhibitor Program

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October 2, 2025 · 8:00 AM UTC

Cocrystal Pharma to Present at Noble Capital Markets Emerging Growth Virtual Equity Conference

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September 15, 2025 · 4:30 PM UTC

Cocrystal Pharma, Inc. Announces Closing of Up To $13 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

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