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Sep 30, 2024
Cocrystal Pharma Q3 2024 Earnings Report
Cocrystal Pharma reported Q3 2024 financial results and provided updates on its antiviral drug-development programs.
Key Takeaways
Cocrystal Pharma reported a net loss of $4.9 million, or $0.49 per share, for the third quarter of 2024. The company's cash balance was $13.0 million as of September 30, 2024, which is expected to fund planned development programs for the next 12 months. Topline results from two ongoing clinical studies are expected before year end and in late 2024 or early 2025.
Topline results from the Phase 2a influenza A challenge study with CC-42344 are expected before year end.
The multiple-ascending dose portion in the Phase 1 pan-norovirus/pan-coronavirus study with CDI-988 is underway, with topline results expected in late 2024 or early 2025.
Cash balance of $13.0 million is expected to fund planned development programs for the next 12 months.
R&D expenses for the third quarter of 2024 were $3.2 million, compared to $4.2 million for the third quarter of 2023.
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