Cocrystal Pharma completed a private placement of 743,024 shares of common stock at $1.39 per share, raising $1.03 million in proceeds. The transaction also included unregistered warrants to purchase up to 1,486,048 shares at an exercise price of $1.24 per share, with potential additional proceeds of approximately $1.83 million if the warrants are fully exercised.
The placement was led by senior directors and management, including Phillip Frost, Fred Hassan, Richard Pfenniger, and James Martin, indicating insider confidence in the company’s strategy.
Proceeds will be used to fund ongoing clinical development programs, working capital needs, and general corporate purposes. Cocrystal Pharma has no revenue and has been operating at a net loss, with cash burn requiring additional capital to extend its operational runway.
The company recently secured a $500,000 grant from the National Institute of Allergy and Infectious Diseases and completed a $4.7 million registered direct offering. Cocrystal Pharma’s pipeline includes CDI‑988 for norovirus and coronavirus infections, CC‑42344, an oral PB2 inhibitor for influenza A, and CDI‑45205, a COVID‑19 antiviral. The company is scheduled to report earnings on November 12, 2025.
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