Cocrystal Pharma (COCP) AI Stock Analysis

• Market Cap: $13.51M
• Dividend Yield: N/A
• Average Volume (3M): 3.12M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.51
• Revenue Growth: N/A
• EPS Growth: 49.10%
• Country: US
• Employees: 11
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.19
• Shares Outstanding: 13,784,065
• 10 Day Avg. Volume: 178,720
• 30 Day Avg. Volume: 3,115,767
• PEG Ratio: >-0.01
• Price to Book (P/B): 2.16
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.25
• Enterprise Value/Market Cap: 0.27
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -2.60
• Enterprise Value/Ebitda: -0.38
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: $1.00 ▼(-8.26% Downside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses and cash burn, shrinking equity base). Technicals also remain bearish with the stock below major moving averages, while positive corporate milestones (trial initiation steps, NIH funding, and insider financing) provide partial offset but do not fully mitigate the fundamental funding and execution risks.

Positive Factors

Advancement of Norovirus Antiviral

The advancement of CDI-988 positions Cocrystal Pharma as a significant player in the antiviral market, potentially offering a first-in-class oral solution for norovirus, addressing unmet medical needs and enhancing its competitive edge.

Equity Incentive Plan

The 2025 Equity Incentive Plan aligns key personnel's interests with company growth, potentially enhancing talent retention and motivation, which is crucial for long-term strategic execution and market competitiveness.

Proprietary Drug Discovery Technology

Cocrystal Pharma's proprietary technology provides a competitive advantage in developing novel antiviral therapeutics, potentially leading to successful partnerships and revenue opportunities through unique solutions.

Negative Factors

Zero Revenue

The lack of revenue generation indicates challenges in monetizing its drug pipeline, which could hinder financial sustainability and limit investment in R&D, affecting long-term growth prospects.

Ongoing Operational Losses

Persistent operational losses reflect difficulties in achieving profitability, which may strain resources and necessitate additional funding, impacting financial stability and strategic flexibility.

Declining Total Assets and Equity

A decline in assets and equity suggests weakening financial health, potentially limiting the company's ability to invest in growth initiatives and respond to market opportunities effectively.

Cocrystal Pharma Business Overview & Revenue Model

Company Description

Cocrystal Pharma, Inc., a biotechnology company, focuses on the discovery and development of antiviral therapeutic treatments for serious and/or chronic viral diseases. It employs structure-based technologies to create antiviral drugs primarily to treat hepatitis C virus (HCV), influenza virus, coronavirus, and norovirus infections. The company develops CC-31244, a HCV non-nucleoside polymerase inhibitor that has completed Phase II a clinical trial to treat HCV infection; and CC-42344, a PB2 inhibitor that is in preclinical development trials for treating influenza infection. It is also involved in identifying and developing non-nucleoside polymerase inhibitors for norovirus infections. Cocrystal Pharma, Inc. has a license and research collaboration agreement with Merck Sharp & Dohme Corp. to discover and develop proprietary influenza A/B antiviral agents; a license agreement with Kansas State University Research Foundation to develop antiviral compounds for the treatment of norovirus and coronavirus infections; and drug discovery collaboration with HitGen and InterX Inc. The company is headquartered in Bothell, Washington.

How the Company Makes Money

Cocrystal Pharma generates revenue primarily through collaborative agreements, licensing deals, and research and development contracts with other pharmaceutical companies. These partnerships often include upfront payments, milestone payments, and royalties based on the successful development and commercialization of targeted antiviral therapies. The company's revenue streams are significantly influenced by its ability to advance its drug candidates through clinical trials and secure strategic partnerships that leverage its proprietary drug discovery technology. Additionally, government grants or funding related to its research areas may also contribute to its financials, although this is less consistent compared to contractual collaborations.

Cocrystal Pharma Financial Statement Overview

Summary

Financials are weak overall: no reported revenue and persistent losses with continued operating/free-cash-flow burn. The balance sheet shows modest leverage (low debt), but equity has shrunk substantially over time, reducing the capital cushion and increasing funding risk despite some improvement in TTM losses/burn versus 2024.

Income Statement

The income statement remains very weak, with no revenue reported in the latest TTM (Trailing-Twelve-Months) period and across most recent annual periods. Losses are persistent and sizable (TTM net loss of about $9.7M; 2024 net loss about $17.5M), indicating the business is still in a heavy investment/burn phase without an operating revenue base. A relative positive is that losses narrowed versus 2024 in the TTM period, but overall profitability and margin profile remain deeply negative and volatile.

Balance Sheet

The balance sheet is a relative bright spot due to modest leverage: total debt is low (about $1.6M in TTM) and debt-to-equity remains conservative (~0.21 TTM). However, equity and total assets have declined materially over time (equity down from ~$77.5M in 2021 to ~$7.7M TTM), reflecting cumulative losses and reducing the capital cushion. Returns on equity are sharply negative (about -130% TTM), underscoring that the current capital base is not generating positive earnings.

Cash Flow

Cash flow is pressured by ongoing operating burn. TTM operating cash flow is roughly -$9.8M and free cash flow is roughly -$9.8M, and free cash flow deteriorated versus the prior year (TTM free cash flow growth about -26.6%). Cash burn improved compared with 2024 (operating cash flow -$16.5M), but the company is still consistently consuming cash, which can increase future funding risk if not offset by new capital or meaningful progress toward revenue.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	2.01M
Gross Profit	-1.42M	-12.54M	-15.17M	-12.39M	-8.79M	-4.02M
EBITDA	-9.68M	-17.75M	-20.97M	-17.95M	-14.03M	-9.43M
Net Income	-9.67M	-17.50M	-17.98M	-38.84M	-14.19M	-9.65M
Balance Sheet
Total Assets	10.45M	13.46M	31.26M	40.84M	79.39M	54.24M
Cash, Cash Equivalents and Short-Term Investments	7.73M	9.86M	26.35M	37.14M	58.70M	33.01M
Total Debt	1.58M	1.81M	1.85M	297.00K	534.00K	596.00K
Total Liabilities	2.78M	3.93M	4.88M	1.27M	1.84M	1.74M
Stockholders Equity	7.67M	9.52M	26.38M	39.57M	77.55M	52.51M
Cash Flow
Free Cash Flow	-9.82M	-16.49M	-14.78M	-21.51M	-12.77M	-10.07M
Operating Cash Flow	-9.80M	-16.48M	-14.67M	-21.43M	-12.72M	-9.83M
Investing Cash Flow	-12.56K	-8.00K	-118.00K	-74.00K	-52.00K	-240.00K
Financing Cash Flow	4.54M	0.00	3.99M	-27.00K	38.47M	35.66M

Cocrystal Pharma Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.09
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COCP, the sentiment is Negative. The current price of 1.09 is above the 20-day moving average (MA) of 1.06, above the 50-day MA of 1.02, and below the 200-day MA of 1.33, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 36.48 is Neutral, neither overbought nor oversold. The STOCH value of 9.91 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for COCP.

Cocrystal Pharma Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLRB	53 Neutral	$13.36M	-0.29	-145.42%	―	―	79.31%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SNSE	51 Neutral	$11.55M	-0.43	-67.47%	―	―	9.63%
COCP	45 Neutral	$13.51M	-1.03	-94.94%	―	―	49.10%
BRTX	44 Neutral	$10.21M	-0.73	-207.73%	―	1.70%	-111.67%
IMRN	38 Underperform	$7.80M	-1.44	-49.00%	―	47.17%	26.84%
BIVI	38 Underperform	$9.35M	-0.13	-94.79%	―	―	84.44%

Cocrystal Pharma Corporate Events

Cocrystal Pharma Grants Stock Options Under 2025 Incentive Plan

On January 9, 2026, Cocrystal Pharma’s Compensation Committee approved grants of non-qualified stock options to its directors, executive officers and a consultant under the company’s 2025 Equity Incentive Plan, with a 10-year term, an exercise price set at the January 8, 2026 closing price, and a vesting schedule that begins with half the options vesting on January 9, 2027 and the remainder vesting in eight equal quarterly installments starting March 31, 2027, contingent on continued service. The awards allocated varying numbers of options to board members, senior executives and a consultant and included a separate $50,000 cash award to Dr. Roger Kornberg for his role as chairman of the Scientific Advisory Board, underscoring the company’s emphasis on long-term equity-based incentives and recognition of scientific leadership in its governance and compensation strategy.

The most recent analyst rating on (COCP) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Cocrystal Pharma stock, see the COCP Stock Forecast page.

Cocrystal Pharma gains IRB approval for norovirus trial

On December 18, 2025, Cocrystal Pharma announced that the Institutional Review Board at Emory University School of Medicine approved the initiation of a Phase 1b human challenge study of its oral antiviral candidate CDI-988 for the prevention and treatment of norovirus infections, with subject screening already underway and enrollment planned to begin in the first quarter of 2026. CDI-988, designed as a broad-spectrum inhibitor targeting a conserved region of the norovirus 3CL protease and previously shown in August 2025 to have favorable Phase 1 safety and tolerability data, will be tested in a randomized, double-blind, placebo-controlled trial of up to 40 healthy adults to assess efficacy in reducing clinical symptoms, viral shedding and disease severity, as well as safety and pharmacokinetics; the program underscores Cocrystal’s bid to address a major unmet medical need in norovirus, where no approved treatments or vaccines exist despite substantial global health and economic burdens.

The most recent analyst rating on (COCP) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Cocrystal Pharma stock, see the COCP Stock Forecast page.

Cocrystal Pharma to Present at Emerging Growth Conference

On December 1, 2025, Cocrystal Pharma announced that its CFO and Co-CEO, James Martin, will present a company overview and clinical progress update at the Noble Capital Markets 21st Emerging Growth Equity Conference on December 3, 2025. This presentation could enhance the company’s visibility and provide stakeholders with insights into its strategic direction and progress in antiviral drug development.

The most recent analyst rating on (COCP) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Cocrystal Pharma stock, see the COCP Stock Forecast page.