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Mar 31, 2023
Cocrystal Pharma Q1 2023 Earnings Report
Reported financial results for Q1 2023 and provided updates on its antiviral drug development programs.
Key Takeaways
Cocrystal Pharma reported a net loss of $5.2 million, or $0.64 per share, for the first quarter of 2023, compared to a net loss of $4.2 million, or $0.52 per share, for the first quarter of 2022. The company's cash balance was $34.0 million as of March 31, 2023. They are advancing their antiviral pipeline, including COVID-19, influenza, and norovirus programs.
Submitted an application to the Australian regulatory agency to begin a first-in-human clinical trial with CDI-988 for COVID-19.
Preparing to begin a Phase 2a human challenge study with CC-42344 for pandemic and seasonal influenza A, pending UK regulatory approval.
Completing additional preclinical studies for the norovirus program and expect to announce a lead oral candidate soon.
Completed a $4 million private placement financing during the second quarter.
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