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Jun 30, 2022
Cocrystal Pharma Q2 2022 Earnings Report
Reported financial results for the second quarter of 2022 and provided updates on its antiviral development programs.
Key Takeaways
Cocrystal Pharma reported a net loss of $24.4 million, or $0.25 per share, for the second quarter of 2022, which included a non-cash impairment charge of $19.1 million. The company's cash balance was $51.0 million as of June 30, 2022, and they believe it is sufficient to fund planned operations into 2024.
Advanced compounds in the clinic and announced a significant research collaboration.
Designed Phase 2a human challenge study with oral PB2 inhibitor CC-42344 to evaluate antiviral efficacy and tolerability.
Expect to report results from Phase 1 study in healthy volunteers underway in Australia later this year.
Initiated API synthesis and process chemistry development with novel, broad-spectrum COVID-19 intranasal/pulmonary and oral protease inhibitors.
Forward Guidance
Cocrystal Pharma's forward-looking statements involve initiating two Phase 1 studies for COVID-19 programs in 2022, reporting Phase 1 Influenza A product candidate data later in 2022, and filing with the UK regulatory agency for a Phase 2a study in 2023.
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