Thursday, August 15, 2024
Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.
Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Clinical Programs Reported Strong Progress. Cocrystal reported a 2Q24 loss of $5.3 million or $(0.54) per share, with $18.1 million in cash on June 20, 2024. The Phase 2a human challenge study testing the influenza vaccine CC-42344 is on schedule to report results later in 2025. During the quarter, preclinical testing for CC-42344 showed efficacy against the avian influenza A (H5N1), a new strain that has infected dairy cattle and has jumped to humans. Separately, CDI-988 reached a Phase 1 clinical milestone and is expected to report full top-line results for coronavirus and norovirus in late 2024/early 2025.
CC-42344 Moves Forward. CC-42344 is a vaccine for influenza that works through inhibition of PB2, a viral enzyme needed for early steps in the reproduction cycle of the influenza virus. CC-42344 has completed enrollment in a Phase 2a study testing the vaccine in human volunteers in the UK. Data is expected later in 2024, to be followed by an IND for clinical studies in the US. An inhaled version is currently in toxicology studies, with Phase 1 studies for prophylactic and post-exposure therapeutic use planned for 2025.
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