Cocrystal Pharma, Inc.
COCP evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for COCP—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · COCP
Cocrystal Pharma, Inc. is a clinical-stage biotechnology company developing novel antiviral therapeutics for serious viral diseases, including norovirus, influenza, and coronaviruses, using structure-based drug design technologies.
Key risk: Going concern uncertainty
BioSniper Score
Based on 4 of 6 signals
Market Cap
$21.2M
Cash Runway
—
Lead Asset
CC-42344 (Phase 1)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 4 clinical trials for Cocrystal Pharma, Inc..
Cocrystal Pharma, Inc. is a clinical-stage biotechnology company developing novel antiviral therapeutics for serious viral diseases, including norovirus, influenza, and coronaviruses, using structure-based drug design technologies.
- Cocrystal Pharma is a clinical-stage biotechnology company focused on discovering and developing novel antiviral drugs for RNA viruses including norovirus, influenza, and coronaviruses [sec_mda · as of 2026-08-13].
- The company employs structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class small molecule antiviral therapeutics [sec_mda · as of 2026-08-13].
- As of June 30, 2026, Cocrystal reported $2.169 million in unrestricted cash, and subsequently raised $5.0 million in gross proceeds from a securities purchase agreement with OPKO Health in July 2026 [sec_mda · as of 2026-08-13].
- The company's independent registered public accounting firm has expressed substantial doubt about its ability to continue as a going concern [sec_mda · as of 2026-05-15].
- In May 2026, Cocrystal announced that its direct-acting antivirals demonstrated pan-viral activity against hantavirus, bunyavirus, and influenza in preclinical studies [sec_mda · as of 2026-08-13].
What works
- Cocrystal's direct-acting antivirals have shown in vitro potency (IC50 <50 nM) against hantaan virus, a close relative of the Andes hantavirus strain associated with recent outbreaks, indicating potential broad-spectrum antiviral activity [sec_mda · as of 2026-08-13].
- The company leverages Nobel Prize-winning expertise and structure-based technologies to design small molecule therapeutics, which may enhance the efficiency of drug discovery [sec_mda · as of 2026-08-13].
- Cocrystal's antiviral candidates target a highly conserved region of the viral replication enzyme (L-protein), which is essential for viral replication and transcription, potentially reducing the likelihood of resistance [sec_mda · as of 2026-08-13].
What to weigh
- Cocrystal has not yet established an ongoing source of revenue sufficient to cover its operating costs, and management has concluded there is substantial doubt about the company's ability to continue as a going concern [sec_mda · as of 2026-08-13][sec_mda · as of 2026-05-15].
- The company's Influenza A program faced a setback after an initial Phase 2a study failed to yield scientifically viable results regarding the product candidate's efficacy, and the company is seeking to resolve a dispute with a CRO through arbitration [sec_mda · as of 2026-08-13].
- Cocrystal's cash balance as of June 30, 2026 ($2.169 million), even after the July 2026 capital raise of $5.0 million, is expected to be insufficient to support working capital needs beyond the near term [sec_mda · as of 2026-08-13].
- The company faces risks from macroeconomic factors such as inflation, interest rate increases, and geopolitical conflicts, which could impact operations and capital availability [sec_mda · as of 2026-08-13].
From the filings
Quoted directly from source documents.
The company's direct-acting antivirals demonstrated pan-viral activity against hantavirus, bunyavirus, and influenza.
“In May 2026, we announced that the Company's direct-acting antivirals demonstrate pan-viral activity against multiple viruses, including hantavirus, bunyavirus and influenza.”
SEC MD&A · August 13, 2026
Cocrystal had $2.169 million in unrestricted cash as of June 30, 2026.
“The Company had $2,169,000 unrestricted cash on June 30, 2026.”
SEC MD&A · August 13, 2026
There is substantial doubt about the company's ability to continue as a going concern.
“management has concluded that there is substantial doubt about the Company's ability to continue as a going concern.”
SEC MD&A · May 15, 2026
Risks & what to watch (4)›
Key risks
- Going concern uncertainty — Management and auditors have expressed substantial doubt about the company's ability to continue as a going concern [sec_mda · as of 2026-05-15].
- Influenza A program setback — Initial Phase 2a study for CC-42344 failed to yield scientifically viable efficacy results, and a dispute with a CRO is in arbitration [sec_mda · as of 2026-08-13].
- Insufficient cash runway — Cash of $2.169M as of June 30, 2026, plus $5M raised in July 2026, is expected to be insufficient to support working capital needs [sec_mda · as of 2026-08-13].
- No established revenue source — The company has not yet established an ongoing source of revenue sufficient to cover operating costs [sec_mda · as of 2026-08-13].
What to watch
- Resolution of the arbitration dispute with the CRO regarding the Influenza A program, which could impact the development timeline for CC-42344 [sec_mda · as of 2026-08-13].
- The company's ability to raise additional capital to fund operations beyond the near term, given the going concern uncertainty [sec_mda · as of 2026-05-15].
- Progress of preclinical and clinical-stage antiviral candidates, including the pan-viral activity data against hantavirus and other RNA viruses [sec_mda · as of 2026-08-13].
- Macroeconomic conditions such as inflation, interest rates, and geopolitical conflicts that could affect the company's operations and capital access [sec_mda · as of 2026-08-13].
Sources: Catalysts · SEC MD&A · Generated August 27, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 3.45 · 0% dilution
Lead: Phase 1
1 candidate
No upcoming catalysts tracked
2 buys · 0 sells (180d)
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
24
Total value held
$961K
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 479,942 | $485K |
| renaissance technologies llc | 123,928 | $125K |
| geode capital management, llc | 90,231 | $91K |
| blackrock, inc. | 73,746 | $74K |
| xtx topco ltd | 36,031 | $36K |
| neuberger berman group llc | 31,886 | $32K |
| vanguard fiduciary trust co | 24,016 | $24K |
| state street corp | 20,543 | $21K |
| two sigma securities, llc | 15,255 | $15K |
| jane street group, llc | 12,711 | $13K |
Showing top 10 of 24 institutional holders of Cocrystal Pharma, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 6.9%
- Days to cover
- 0.1
- Shares short
- 586,422
- Daily short volume (May 8, 2026)
- 36.4%
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
COCP short interestGovernance
Frequently asked questions
What is the AI investment thesis for Cocrystal Pharma, Inc.?
Cocrystal Pharma, Inc. is a clinical-stage biotechnology company developing novel antiviral therapeutics for serious viral diseases, including norovirus, influenza, and coronaviruses, using structure-based drug design technologies.
What is Cocrystal Pharma, Inc.'s lead drug candidate?
Cocrystal Pharma, Inc.'s most advanced tracked candidate is CC-42344 (Phase 1) for Influenza A.
Who is the CEO of Cocrystal Pharma, Inc.?
Mr. James R. Sapirstein M.B.A., R.Ph. is the chief executive officer of Cocrystal Pharma, Inc. (COCP).
Where is Cocrystal Pharma, Inc. headquartered?
Cocrystal Pharma, Inc. (COCP) is headquartered in Bothell, WA, United States.
What therapeutic areas does Cocrystal Pharma, Inc. focus on?
Cocrystal Pharma, Inc. develops therapies across Oncology, Infectious Disease.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.