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Dec 31, 2021
Cocrystal Pharma Q4 2021 Earnings Report
Reported financial results for the year ended December 31, 2021, and provided updates on its antiviral pipeline, upcoming milestones and business activities.
Key Takeaways
Cocrystal Pharma reported no revenues for 2021 compared to $2.0 million in 2020 due to Merck assuming activities and expenses for the influenza A/B collaboration. R&D expenses increased to $8.8 million, and the net loss was $14.2 million, or $0.16 per share. The company's cash position remains strong with $58.7 million.
Enrollment is underway in Phase 1 trial with antiviral compound CC-42344 for influenza A.
Plans to initiate first-in-human clinical studies in 2022 with two SARS-CoV-2 protease inhibitors.
Received extensive comments from the FDA on pre-IND briefing package for CDI-45205.
Company is well positioned to execute on its strategy with a clean capital structure and sufficient cash balance through 2023.
Forward Guidance
The Company expects R&D expenses to increase during 2022 due to the advancement of our influenza A program into the clinic and progress with preclinical COVID-19 programs toward clinical development.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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