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Jun 30, 2025
Cocrystal Pharma Q2 2025 Earnings Report
Cocrystal Pharma reported a narrower Q2 2025 net loss compared to the prior year, with reduced R&D spending and steady G&A expenses.
Key Takeaways
Cocrystal Pharma reported a Q2 2025 net loss of $2.1 million, an improvement from a $5.3 million loss in Q2 2024. This was driven by a significant reduction in research and development expenses. The company ended the quarter with $4.8 million in cash and 10.2 million shares outstanding, while continuing to advance its antiviral pipeline.
Q2 net loss narrowed to $2055000 from $5343000 YoY
R&D expenses decreased significantly to $1122000
Cash balance at quarter-end was $4766000
Working capital remained strong at $4900000
Forward Guidance
Cocrystal expects to initiate a Phase 1b challenge study for its lead antiviral candidate CDI-988 in 2025 and continues to develop its influenza and coronavirus programs.
Positive Outlook
- Phase 1b study for CDI-988 targeting norovirus planned for later in 2025
- Favorable safety data across all dose cohorts for CDI-988
- Demonstrated pan-viral activity in vitro
- Continued strong focus on high-priority unmet infectious diseases
- Operational cost management significantly improved R&D efficiency
Challenges Ahead
- No revenue generated in Q2 2025
- Cash position down nearly 50% from December 2024
- Net loss remains despite cost reductions
- Continued reliance on external funding to sustain operations
Historical Earnings Impact
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Avg. Return Before/After Earnings
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