Cocrystal Pharma, Inc.
COCP evidence brief
What we can confirm
- BioSniper Score:
- 5.6 / 10
- Market Cap:
- $23.9M
- Lead Asset:
- CC-42344 (Phase 2)
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. (COCP) is a clinical-stage biotechnology company developing novel antiviral therapeutics for RNA viruses, including norovirus, influenza, and coronaviruses, using structure-based drug design and Nobel Prize-winning expertise.
Key risk: Cash runway insufficient
BioSniper Score
Based on 4 of 6 signals
Market Cap
$23.9M
Cash Runway
—
Lead Asset
CC-42344 (Phase 2)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 4 clinical trials for Cocrystal Pharma, Inc..
Cocrystal Pharma, Inc. (COCP) is a clinical-stage biotechnology company developing novel antiviral therapeutics for RNA viruses, including norovirus, influenza, and coronaviruses, using structure-based drug design and Nobel Prize-winning expertise.
- Cocrystal is a clinical-stage biotech focused on discovering and developing novel antiviral therapeutics for serious viral diseases [sec_mda · as of 2026-08-13].
- As of June 30, 2026, the company had $2.169 million in unrestricted cash and reported total revenue of $0.1M and net income of -$3.2M for the latest period [sec_mda · as of 2026-08-13] [latest reported financials as of 2026-06-30].
- The company has ongoing Phase 1 studies for CDI-988 (norovirus) and CC-42344 (influenza A), with a Phase 1b norovirus challenge study initiated in March 2026 [catalyst].
- Cocrystal's direct-acting antivirals have demonstrated pan-viral activity against hantavirus, bunyavirus, and influenza in vitro, with IC50 <50 nM against hantaan virus [sec_mda · as of 2026-08-13].
- The company is seeking a partner for further development of its HCV candidate CC-31244, which completed a Phase 2a study in 2017 [sec_mda · as of 2026-08-13].
What works
- Cocrystal's antiviral platform targets highly conserved regions of viral replication enzymes, potentially enabling broad-spectrum activity against multiple RNA viruses [sec_mda · as of 2026-08-13].
- The company has received a $500,000 SBIR Phase I award from the NIH, indicating external validation of its research [sec_mda · as of 2026-08-13].
- Cocrystal has advanced multiple candidates into clinical trials, including a Phase 1b norovirus challenge study, demonstrating execution capability [catalyst].
What to weigh
- The company has no established ongoing source of revenue sufficient to cover operating costs and reported a net loss of -$3.2M for the latest period [sec_mda · as of 2026-08-13] [latest reported financials as of 2026-06-30].
- Cash of $2.169 million as of June 30, 2026, plus a $5.0 million capital raise in July 2026, is expected to be insufficient to support working capital needs [sec_mda · as of 2026-08-13].
- The Influenza A program (CC-42344) faced a setback after an initial Phase 2a study failed to yield scientifically viable efficacy results [sec_mda · as of 2026-08-13].
- The company is involved in arbitration with a CRO over the Influenza A program, adding legal and financial uncertainty [sec_mda · as of 2026-08-13].
From the filings
Quoted directly from source documents.
Cocrystal is a clinical-stage biotechnology company developing novel antiviral therapeutics.
“Cocrystal Pharma, Inc. (the "Company" or "Cocrystal") is a clinical-stage biotechnology company seeking to discover and develop novel antiviral therapeutics as treatments for serious and/or chronic viral diseases.”
SEC MD&A · August 13, 2026
Cash position as of June 30, 2026.
“The Company had $2,169,000 unrestricted cash on June 30, 2026.”
SEC MD&A · August 13, 2026
Influenza A Phase 2a study failed to yield viable efficacy results.
“We face significant risks and uncertainties surrounding our Influenza A program following an initial Phase 2a study which failed to yield scientifically viable results relating to the product candidate's efficacy”
SEC MD&A · August 13, 2026
Pan-viral activity against hantavirus, bunyavirus, and influenza.
“the Company's direct-acting antivirals demonstrate pan-viral activity against multiple viruses, including hantavirus, bunyavirus and influenza.”
SEC MD&A · August 13, 2026
Catalyst timeline
- 2026-03-01 · Phase 1b norovirus challenge study start — A Phase 1b randomized, double-blind, placebo-controlled trial evaluating CDI-988 in healthy adults after norovirus challenge.
Risks & what to watch (4)›
Key risks
- Cash runway insufficient — Cash of $2.169M (June 30, 2026) plus $5M July raise expected insufficient for working capital [sec_mda · as of 2026-08-13].
- No recurring revenue — Company has no established ongoing revenue source to cover operating costs [sec_mda · as of 2026-08-13].
- Influenza A program setback — Phase 2a study failed to yield viable efficacy results; arbitration with CRO ongoing [sec_mda · as of 2026-08-13].
- Dependence on partnerships — HCV candidate CC-31244 development on hold pending partner; no partner secured since 2017 [sec_mda · as of 2026-08-13].
What to watch
- Outcome of the Phase 1b norovirus challenge study for CDI-988, initiated March 2026 [catalyst].
- Resolution of the arbitration with the CRO regarding the Influenza A program [sec_mda · as of 2026-08-13].
- Ability to secure additional financing or a partnership for CC-31244 (HCV) or other programs [sec_mda · as of 2026-08-13].
- Progress of the higher-dose cohort (1200 mg) for CDI-988 and any further clinical data releases [sec_mda · as of 2026-08-13].
Sources: Catalysts · SEC MD&A · Generated October 7, 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 2
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
26
Total value held
$771K
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 239,971 | $242K |
| renaissance technologies llc | 123,928 | $125K |
| geode capital management, llc | 90,231 | $91K |
| blackrock, inc. | 73,746 | $74K |
| t3 companies, llc | 51,500 | $52K |
| 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 |
Showing top 10 of 26 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 (Oct 12, 2026)
- 2.1%
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. (COCP) is a clinical-stage biotechnology company developing novel antiviral therapeutics for RNA viruses, including norovirus, influenza, and coronaviruses, using structure-based drug design and Nobel Prize-winning expertise.
What is Cocrystal Pharma, Inc.'s lead drug candidate?
Cocrystal Pharma, Inc.'s most advanced tracked candidate is CC-42344 (Phase 2) 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.