Cocrystal Pharma Q1 2024 Earnings Report
Key Takeaways
Cocrystal Pharma reported a net loss of $4.0 million, or $0.39 per share, for the first quarter of 2024, compared to a net loss of $5.2 million, or $0.64 per share, for the first quarter of 2023. The company's cash balance was $21.8 million as of March 31, 2024, and anticipates significant milestones this year.
Expects topline results from the SAD portion of a first-in-human study with pan-coronavirus and pan-norovirus oral protease inhibitor CDI-988.
Expects to report topline results from Phase 2a human challenge study with broad-spectrum oral PB2 inhibitor CC-42344 for pandemic and seasonal influenza A and to prepare an IND application to conduct a late-stage clinical study in the U.S. in the second half of 2024.
Preparations are underway to initiate a Phase 1 study in healthy volunteers with inhaled CC-42344 as a potential prophylactic and therapeutic for influenza A in the second half of this year.
Anticipates significant milestones this year and expects cash will be sufficient to fund operating activities beyond the next twelve months.