What Cocrystal Pharma does

Cocrystal Pharma, Inc. (NASDAQ: COCP) is a clinical-stage biotechnology company headquartered in Bothell, Washington, that discovers and develops novel antiviral therapeutics using a proprietary structure-based drug discovery platform. The platform leverages Nobel Prize-winning expertise — anchored by Chief Scientist and Board Chairman Roger Kornberg (2006 Chemistry laureate) — to produce near-atomic-resolution 3D structures of inhibitor complexes, enabling the design of small molecules that target highly conserved regions of viral enzymes such as proteases and polymerases. The company's pipeline includes CDI-988, an oral pan-viral 3CL protease inhibitor in Phase 1b human challenge study for norovirus (which received FDA Fast Track designation in April 2026); CC-42344, an oral and inhaled PB2 inhibitor for influenza A whose Phase 2a study completed in late 2025 with favorable safety but undisclosed efficacy; an NIH SBIR-funded influenza A/B replication inhibitor in preclinical; and newly disclosed pan-viral inhibitors active against hantavirus, bunyavirus, and influenza.

Cocrystal has no approved products and does not generate commercial revenue. Its current revenue consists solely of non-dilutive NIH/NIAID SBIR grant income; the company reported an $8.8 million net loss in FY2025 against $7.7 million in unrestricted cash at December 31, 2025. Capital is raised primarily through small insider-led private placements (a $1.03 million round in October 2025 from directors including Phillip Frost and Fred Hassan) and public offerings, the largest being a $40 million 2021 issuance. Go-to-market upon any future approval is expected to target hospital systems, immunocompromised patient populations, military and government health programs, and pandemic preparedness stockpiles — institutional channels that the company has actively courted via presentations at MHSRS and other government-facing conferences.

The business model is a traditional clinical-stage biotech value-creation thesis: advance candidates through Phase 1–3 trials, secure regulatory designations and approvals, then either commercialize via hospital and government channels or out-license to a larger pharmaceutical partner. The company serves a global addressable market across norovirus (685 million annual cases, $60 billion economic burden), influenza (1 billion annual cases), and emerging viral threats. Leadership transitioned in June 2026 with the appointment of James Sapirstein as CEO — a commercial-stage operator with 23 prior product launches at Gilead, Bristol-Myers Squibb, and Serono — replacing the founder-led co-CEO structure and signaling preparation for a later-stage commercial inflection.

Name

Cocrystal Pharma

Legal name

Cocrystal Pharma, Inc.

Website

https://cocrystalpharma.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Cocrystal Pharma (NASDAQ: COCP) is a pre-revenue clinical-stage biotech developing oral antiviral drug candidates for norovirus, influenza, and coronaviruses using a proprietary structure-based drug discovery platform anchored by Nobel laureate Roger Kornberg, targeting hospitals and government health programs.

Ownership category

akta.pro rank

Product category

Antiviral Therapeutics

NAICS

Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414), Scientific Research and Development Services (5417)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Infectious Disease Specialty Pharmaceuticals (Non-vaccine) (HLAIACAM)

akta.pro secondary industries

Infectious Disease & Antimicrobials Pharmaceuticals (HLAIAAAG), Drug Discovery (Target ID/Validation & Hit Discovery) (HLAIALAA)

Keywords

• Antiviral therapeutics
• Structure-based drug discovery
• Clinical-stage biotechnology
• Influenza treatment
• Norovirus treatment

Headquarters

HQ city

Bothell

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. NIH/NIAID SBIR Grants: Non-dilutive grant funding from National Institutes of Health Small Business Innovation Research awards supporting specific research programs
2. Future Product Revenue: Pre-revenue clinical-stage company planning to commercialize antiviral therapeutics through traditional pharmaceutical sales channels upon regulatory approval

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Cocrystal Pharma is a clinical-stage biotechnology company that discovers and develops novel broad-spectrum antiviral therapeutics using a proprietary structure-based drug discovery platform. Its lead candidates include CDI-988, an oral pan-viral 3CL protease inhibitor for norovirus and coronavirus infections, and CC-42344, an oral and inhaled PB2 inhibitor for pandemic and seasonal influenza A. Additional programs target hepatitis C, rhinovirus, hantavirus, and bunyavirus.

Product overview

Cocrystal Pharma is a clinical-stage biotechnology company developing novel antiviral therapeutics targeting viral replication processes. The company's portfolio includes multiple drug candidates at various clinical stages: CDI-988 (oral pan-viral protease inhibitor for norovirus and coronavirus, Phase 1b), CC-42344 oral and inhaled formulations (influenza A PB2 inhibitor, Phase 2a completed), an NIH-funded influenza A/B replication inhibitor program, CDI-31244 (hepatitis C NS5B inhibitor), and novel pan-viral hantavirus inhibitors in discovery. These candidates are developed using the company's proprietary structure-based drug discovery platform technology that provides near-atomic resolution 3D structural data to guide drug design.

Differentiator

Problem solved

Functional benefit

Products and services

• CDI-988 First oral pan-viral protease inhibitor targeting the 3CL protease for treatment and prophylaxis of norovirus and coronavirus infections. Currently in Phase 1b human challenge study at Emory University with FDA Fast Track designation granted in April 2026.
• CC-42344 (Oral) Novel oral PB2 inhibitor for treatment of pandemic and seasonal influenza A strains, including strains resistant to Tamiflu and Xofluza. Phase 2a study completed.
• CC-42344 (Inhaled) Dry powder inhalation formulation of CC-42344 for prophylaxis and treatment of pandemic and seasonal influenza A. GLP toxicology studies completed.
• Influenza A/B Replication Inhibitor Novel broad-spectrum lead candidate targeting the influenza A/B polymerase complex. NIH SBIR Phase I funded program in lead discovery.
• CDI-31244 Pan-genotypic NS5B non-nucleoside inhibitor for treatment of chronic hepatitis C. Previously in preclinical and clinical studies.
• Pan-Viral Replication Inhibitors (Hantavirus/Bunyavirus Program) Novel pan-viral inhibitors targeting hantavirus, bunyavirus, and influenza with in vitro potency data showing IC50 <50 nM against hantaan virus replication enzyme.

Quantifiable outcome

• IC50 <50 nM against hantaan virus (hantavirus) replication enzyme
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Emory University School of MedicinecoreStrategic or Co-development Partner · 9 March 2026Collaboration to conduct Phase 1b human challenge study evaluating CDI-988 for norovirus prevention and treatment. Emory provides clinical research infrastructure, virology expertise, and norovirus challenge model capabilities. Study NCT07198139 enrolling up to 40 healthy adults aged 18-49.
• University of North CarolinacoreStrategic or Co-development Partner · 9 March 2026Collaboration partner for Phase 1b norovirus challenge study with CDI-988, providing clinical research support alongside Emory University.
• hVIVOminorStrategic or Co-development Partner · 8 August 2022Partnership for Phase 2 trial of antiviral flu treatment candidate CC-42344. hVIVO conducted human challenge studies in the United Kingdom following MHRA authorization.
• NIAID (COVID-19 Protease Inhibitors)minorStrategic or Co-development Partner · 2 June 2022Expanded partnership for COVID-19 protease inhibitors development. NIAID collaboration supporting preclinical and clinical advancement of coronavirus antiviral candidates.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Enanta Pharmaceuticals: Clinical-stage biotech developing small-molecule antivirals for RSV, hepatitis B, and other viral infections — comparable in size, modality (oral small molecules), and clinical-stage profile to Cocrystal.
• Vir Biotechnology: Clinical-stage immunology company developing antiviral therapeutics (including influenza and coronavirus programs) using a platform approach — closely comparable to Cocrystal's structure-based discovery model targeting multiple viral families.
• Atea Pharmaceuticals: Clinical-stage biotech developing oral direct-acting antivirals for serious viral infections including HCV and SARS-CoV-2, with a Phase 2-ready pipeline. Directly comparable to Cocrystal's oral antiviral small-molecule approach.
• Pardes Biosciences: Clinical-stage antiviral company developing oral protease inhibitors for SARS-CoV-2 and other viral diseases using structure-based design — same drug discovery paradigm and target class (viral proteases) as Cocrystal's CDI-988.

Emerging players

• Arcturus Therapeutics: Clinical-stage company developing vaccines and therapeutics for infectious diseases including influenza and coronaviruses — overlapping therapeutic indications but using RNA-based modality rather than Cocrystal's small-molecule approach.

Broad incumbents

• Shionogi: Japanese pharmaceutical company that developed Xofluza (baloxavir marboxil), a leading single-dose influenza antiviral. CC-42344 targets the same indication and must differentiate against this entrenched competitor.
• Gilead Sciences: Global antiviral leader with franchises in HIV, hepatitis C (Sovaldi/Harvoni), and remdesivir for COVID-19. Cocrystal's new CEO James Sapirstein previously held senior commercial roles at Gilead, illustrating the bench-strength overlap and competitive benchmark for any antiviral launch.
• Roche: Developer of Tamiflu (oseltamivir), the leading oral influenza antiviral. Represents the entrenched standard-of-care competitor that Cocrystal's influenza program must displace.
• Moderna: Large commercial-stage biotech with established mRNA vaccine franchises for COVID-19 and influenza. Represents the modality-agnostic competitive threat for pandemic preparedness stockpiling dollars.

Others

• ContraVir Pharmaceuticals: Antiviral-focused company where incoming Cocrystal CEO James Sapirstein previously served as CEO. Represents a peer career trajectory and historical reference point for Cocrystal's hepatitis and antiviral development approach.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=TFSwL0q1JLw
• Xx.com/cocrystalpharma
• Facebookfacebook.com/cocrystalpharma
• LinkedInlinkedin.com/company/cocrystal-pharma-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds11 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cocrystal Pharma