Quarterly ResultMay 15, 2026, 08:02 AM
Cocrystal Pharma's CDI-988 gets FDA Fast Track; Phase 1b enrollment complete
AI Summary
Cocrystal Pharma announced significant advancements in its antiviral pipeline and reported its first quarter 2026 financial results. The company received FDA Fast Track designation for CDI-988, its norovirus and coronavirus candidate, which could accelerate its development. Enrollment was completed for the first cohort of the Phase 1b challenge study for CDI-988, and prevention and treatment cohorts have commenced. Additionally, Cocrystal received an initial $225,000 payment from an SBIR NIH grant for its influenza A/B program. For Q1 2026, the company reported $225,000 in revenue and a net loss of $2.3 million, with cash reserves of $4.7 million as of March 31, 2026.
Key Highlights
- CDI-988 received FDA Fast Track designation for norovirus, potentially accelerating its development pathway.
- Completed enrollment in the first cohort of the Phase 1b challenge study for CDI-988; prevention and treatment cohorts have begun.
- Received an initial $225,000 payment from an SBIR NIH grant for the influenza A/B antiviral lead generation program.
- Q1 2026 revenue was $225,000, compared to $0 in Q1 2025.
- Q1 2026 net loss was $2.3 million, consistent with a $2.3 million net loss in Q1 2025.
- Net loss per common share for Q1 2026 was $(0.17), an improvement from $(0.23) in Q1 2025.
- Cash and cash equivalents as of March 31, 2026, totaled $4.7 million, down from $7.7 million on December 31, 2025.
- Net cash used in operating activities for Q1 2026 was $2.3 million, compared to $2.9 million for the same period in 2025.
Price Impact
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