Cocrystal Pharma, Inc.

Cocrystal Pharma, Inc. announced the appointment of James Sapirstein as its new Chief Executive Officer, effective immediately. Mr. Sapirstein, a biopharma industry leader with extensive antiviral development experience, will also be appointed to the Board of Directors. He replaces former Co-Chief Executive Officers Sam Lee and Jim Martin, who will transition to President and Chief Scientific Officer, and Chief Financial Officer, respectively. The company expects Mr. Sapirstein's experience to accelerate its clinical programs.

Cocrystal Pharma, Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on July 14, 2026, at 11:00 a.m. Eastern Time. Stockholders will vote on the election of five directors, the ratification of Weinberg & Company as the independent registered public accounting firm for 2026, and a proposal to approve an adjournment of the meeting if needed. The record date for stockholders entitled to vote is May 14, 2026, with 13,787,453 shares of common stock outstanding.

Cocrystal Pharma announced the discovery of novel direct-acting antivirals demonstrating pan-viral activity against hantavirus, bunyavirus, and influenza. These inhibitors target a highly conserved region of the viral replication enzyme, showing superior in vitro potency against hantaan virus. This development addresses significant unmet medical needs, as there are currently no approved treatments or vaccines for hantavirus and bunyavirus infections. The company plans to further evaluate these inhibitors and explore potential collaborations.

Cocrystal Pharma reported a net loss of $2.30 million for the three months ended March 31, 2026, similar to the prior year. The company's cash and restricted cash significantly decreased to $4.76 million from $7.10 million at December 31, 2025, with $2.34 million used in operating activities. Management explicitly stated that current resources are insufficient to fund operations beyond the next 12 months, raising substantial doubt about its ability to continue as a going concern.

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.

Cocrystal Pharma announced that its first oral protease inhibitor, CDI-988, for norovirus infection was featured in an oral presentation at the 39th International Conference on Antiviral Research (ICAR 2026). The presentation highlighted its novel mechanism of action and clinical advancement, including favorable Phase 1 data and the ongoing Phase 1b human challenge study, which has completed enrollment for its first cohort. CDI-988 has also been granted FDA Fast Track designation, underscoring the serious nature of norovirus and the lack of approved therapies for this infection, which carries a $60 billion annual economic burden.

Cocrystal Pharma announced the clinical advancement of its oral protease inhibitor CDI-988 for norovirus, featured at the 39th International Conference on Antiviral Research. The drug is currently in an ongoing Phase 1b human challenge study, with the first cohort fully enrolled to establish inoculum infectivity. CDI-988 has also received FDA Fast Track designation for norovirus treatment and prophylaxis, underscoring the serious nature of the disease and the lack of approved therapies. Preclinical and Phase 1 data showed favorable pharmacokinetics and safety for the compound, which targets a highly conserved region of the 3CL protease.