Cocrystal Pharma, Inc. (Nasdaq: COCP) has announced its financial results for the fiscal year ended December 31, 2025, alongside updates on its antiviral product pipeline. The company reported a net loss of $8.8 million, or $0.78 per share, a significant decrease from the net loss of $17.5 million, or $1.72 per share, reported in 2024. Research and development expenses for 2025 were $5.1 million, down from $12.5 million in 2024, primarily due to the winddown of the Phase 2a influenza study and reduced employee-related expenses. General and administrative expenses also decreased to $4.0 million from $5.3 million in the previous year. Cocrystal reported unrestricted cash of $7.7 million as of December 31, 2025, compared to $9.9 million at the end of 2024. The company is currently conducting a Phase 1b norovirus challenge study at Emory University School of Medicine, evaluating the efficacy and safety of its antiviral candidate, CDI-988. This candidate is the first oral antiviral being developed for norovirus treatment and prevention, addressing a significant unmet need in the market. The study aims to enroll up to 40 subjects, with primary endpoints focused on reducing clinical symptoms and secondary endpoints assessing viral shedding and disease severity. Cocrystal's innovative structure-based drug discovery platform technology aims to develop broad-spectrum antivirals that can effectively target viral replication, potentially transforming the treatment landscape for norovirus and other viral infections. The company remains optimistic about the future of its antiviral programs and their potential to create value for investors.

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