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Mar 31, 2025
Cocrystal Pharma Q1 2025 Earnings Report
Reported financial results for the three months ended March 31, 2025 and provided updates on its antiviral product pipeline
Key Takeaways
Cocrystal Pharma reported a reduced net loss and lower operating expenses in the first quarter of 2025 compared to the same period in the previous year. The company is advancing its antiviral product pipeline, particularly its norovirus candidate CDI-988, with plans for a human challenge study.
Net loss for Q1 2025 was $2.3 million, a decrease from $4.0 million in Q1 2024.
Research and development expenses decreased to $1.4 million in Q1 2025 from $3.0 million in Q1 2024.
General and administrative expenses decreased to $1.0 million in Q1 2025 from $1.2 million in Q1 2024.
Cash and cash equivalents were $6.9 million as of March 31, 2025.
Forward Guidance
Cocrystal Pharma intends to initiate a U.S. human challenge study for its norovirus product candidate CDI-988 in the coming months. The company also plans to initiate a second human challenge study for CC-42344.
Positive Outlook
- Preparation to launch a U.S. human challenge study for CDI-988.
- Advancing development of novel, broad-spectrum drug candidates for multibillion-dollar markets.
- Commitment to a capital-efficient business model.
- CDI-988 demonstrated superior broad-spectrum antiviral activity against major norovirus variants in vitro.
- Belief that CDI-988 effectively combats all major strains of norovirus.
Challenges Ahead
- Need for additional capital to fund operations over the next 12 months.
- Risks and uncertainties arising from inflation, potential recession, interest rate increases, tariffs, and geopolitical conflicts.
- Potential manufacturing and research delays arising from raw materials and labor shortages, supply chain disruptions, and other business interruptions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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