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Mar 31, 2022
Cocrystal Pharma Q1 2022 Earnings Report
Reported financial results for the first quarter of 2022 and provided updates on its antiviral development programs and milestones.
Key Takeaways
Cocrystal Pharma reported a net loss of $4.2 million, or $0.04 per share, for the first quarter of 2022. The company's cash balance was $54.8 million as of March 31, 2022, which is expected to fund planned operations through 2023. The company is advancing its antiviral programs for influenza and COVID-19, with Phase 1 studies underway or planned.
Reported progress with antiviral programs for influenza and COVID-19.
Announced favorable preliminary safety and pharmacokinetic data from the first two cohorts of healthy adults in the Phase 1 study of CC-42344 for influenza A.
Advancing toward the start of a Phase 1 study with CDI-45205 for the treatment of COVID-19.
Cash balance of $54.8 million is expected to fund planned operations through 2023.
Forward Guidance
The Company expects R&D expenses to increase during 2022 due to the advancement of its influenza A program into the clinic and progress with preclinical COVID-19 programs toward clinical development.
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