Cocrystal Pharma (COCP)


Market Price (9/21/2026): $1.23 | Market Cap: $17.0 MilSector: Health Care | Industry: Biotechnology

Cocrystal Pharma (COCP)


Market Price (9/21/2026): $1.23
Market Cap: $17.0 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.

Weak multi-year price returns
2Y Excs Rtn is -64%, 3Y Excs Rtn is -110%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -10 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3064%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 85%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2410%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2410%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -64%

Key risks
COCP key risks include [1] a persistent need for fundraising to sustain operations due to its history of operating losses and limited cash and [2] a critical dependence on the success of its early-stage drug candidates, Show more.

0 Megatrend and thematic drivers
Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.
1 Weak multi-year price returns
2Y Excs Rtn is -64%, 3Y Excs Rtn is -110%
2 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -10 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3064%
3 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 85%
4 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2410%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2410%
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -64%
6 Key risks
COCP key risks include [1] a persistent need for fundraising to sustain operations due to its history of operating losses and limited cash and [2] a critical dependence on the success of its early-stage drug candidates, Show more.

COCP in ETFs

Weight = COCP's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/14/2026

Cocrystal Pharma (COCP) stock has gained about 10% since 5/31/2026 because of the following key factors:

1. Strategic Financing with OPKO Health. Cocrystal Pharma secured a crucial $5 million in funding through a private placement with OPKO Health, Inc. on July 31, 2026, by selling 5,474,053 common shares. This capital infusion, announced on August 3, 2026, provided significant near-term liquidity for the company's research and development programs and general corporate purposes. This financing was a key positive catalyst, especially as the company's fiscal Q2 2026 earnings report, released on August 13, 2026, included a "going concern" warning, indicating that existing cash and the new equity investment might not sustain operations for a full 12 months.

2. Advancement in CDI-988 Norovirus Clinical Program. The company announced on September 9, 2026, that the last subject had been dosed in its Phase 1b norovirus challenge study for CDI-988, an oral antiviral candidate for norovirus prevention and treatment. No serious adverse events have been reported to date for CDI-988, which previously demonstrated favorable safety and tolerability in a Phase 1 study. This milestone was met with a positive market reaction, as COCP gained 5.08% on the day of the announcement. Preliminary efficacy results for this study are anticipated in late fiscal Q4 2026 or early fiscal Q1 2027, maintaining investor interest in the program.

Show more
Updated on 9/14/2026

Cocrystal Pharma (COCP) stock has gained about 10% since 5/31/2026 because of the following key factors:

1. Strategic Financing with OPKO Health. Cocrystal Pharma secured a crucial $5 million in funding through a private placement with OPKO Health, Inc. on July 31, 2026, by selling 5,474,053 common shares. This capital infusion, announced on August 3, 2026, provided significant near-term liquidity for the company's research and development programs and general corporate purposes. This financing was a key positive catalyst, especially as the company's fiscal Q2 2026 earnings report, released on August 13, 2026, included a "going concern" warning, indicating that existing cash and the new equity investment might not sustain operations for a full 12 months.

2. Advancement in CDI-988 Norovirus Clinical Program. The company announced on September 9, 2026, that the last subject had been dosed in its Phase 1b norovirus challenge study for CDI-988, an oral antiviral candidate for norovirus prevention and treatment. No serious adverse events have been reported to date for CDI-988, which previously demonstrated favorable safety and tolerability in a Phase 1 study. This milestone was met with a positive market reaction, as COCP gained 5.08% on the day of the announcement. Preliminary efficacy results for this study are anticipated in late fiscal Q4 2026 or early fiscal Q1 2027, maintaining investor interest in the program.

3. FDA Fast Track Designation for CDI-988. Cocrystal Pharma's oral antiviral drug candidate, CDI-988, for norovirus infection treatment and prevention, has received FDA Fast Track designation. This designation, highlighted in the fiscal Q2 2026 business update, signifies the significant unmet medical need for norovirus treatments and offers the potential for an expedited development and regulatory review pathway, contributing to positive sentiment around the drug's future.

Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 8.0% change in COCP stock from 5/31/2026 to 9/20/2026 was primarily driven by a 46.7% change in the company's Total Revenues ($ Mil).
(LTM values as of)53120269202026Change
Stock Price ($)1.121.218.0%
Change Contribution By: 
Total Revenues ($ Mil)0046.7%
P/S Multiple68.650.6-26.3%
Shares Outstanding (Mil)14140.0%
Cumulative Contribution8.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/20/2026
ReturnCorrelation
COCP8.0% 
Market (SPY)0.9%30.9%
Sector (XLV)12.7%1.4%

Fundamental Drivers

The 15.2% change in COCP stock from 2/28/2026 to 9/20/2026 was primarily driven by a 9.2233720368547763E17% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820269202026Change
Stock Price ($)1.051.2115.2%
Change Contribution By: 
Total Revenues ($ Mil)009.2233720368547763E17%
P/S Multiple50.6 
Shares Outstanding (Mil)1114-20.3%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/20/2026
ReturnCorrelation
COCP15.2% 
Market (SPY)11.6%20.8%
Sector (XLV)5.5%4.1%

Fundamental Drivers

The -19.3% change in COCP stock from 8/31/2025 to 9/20/2026 was primarily driven by a null change in the company's P/S Multiple.
(LTM values as of)83120259202026Change
Stock Price ($)1.501.21-19.3%
Change Contribution By: 
Total Revenues ($ Mil)009.2233720368547763E17%
P/S Multiple50.6 
Shares Outstanding (Mil)1014-26.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/20/2026
ReturnCorrelation
COCP-19.3% 
Market (SPY)19.4%26.2%
Sector (XLV)24.1%9.4%

Fundamental Drivers

The -59.7% change in COCP stock from 8/31/2023 to 9/20/2026 was primarily driven by a null change in the company's P/S Multiple.
(LTM values as of)83120239202026Change
Stock Price ($)3.001.21-59.7%
Change Contribution By: 
Total Revenues ($ Mil)009.2233720368547763E17%
P/S Multiple50.6 
Shares Outstanding (Mil)1014-27.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/20/2026
ReturnCorrelation
COCP-59.7% 
Market (SPY)75.6%14.4%
Sector (XLV)32.3%6.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
COCP Return-52%-75%-12%17%-52%16%-93%
Peers Return52%2%-34%-1%45%15%69%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
COCP Win Rate33%25%58%42%25%44% 
Peers Win Rate58%52%32%47%55%58% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
COCP Max Drawdown-72%-79%-54%-42%-63%-48% 
Peers Max Drawdown-23%-34%-44%-37%-31%-21% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ENTA, BCRX, GILD, PFE, MRK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)

How Low Can It Go

EventCOCPS&P 500
2025 US Tariff Shock
  % Loss-37.0%-18.8%
  % Gain to Breakeven58.8%23.1%
  Time to Breakeven115 days79 days
2024 Yen Carry Trade Unwind
  % Loss-26.2%-7.8%
  % Gain to Breakeven35.5%8.5%
  Time to Breakeven137 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-44.5%-9.5%
  % Gain to Breakeven80.1%10.5%
  Time to Breakeven200 days24 days
2023 SVB Regional Banking Crisis
  % Loss-26.1%-6.7%
  % Gain to Breakeven35.3%7.1%
  Time to Breakeven15 days31 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-46.7%-19.2%
  % Gain to Breakeven87.5%23.8%
  Time to Breakeven22 days105 days

Compare to ENTA, BCRX, GILD, PFE, MRK

In The Past

Cocrystal Pharma's stock fell -37.0% during the 2025 US Tariff Shock. Such a loss loss requires a 58.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventCOCPS&P 500
2025 US Tariff Shock
  % Loss-37.0%-18.8%
  % Gain to Breakeven58.8%23.1%
  Time to Breakeven115 days79 days
2024 Yen Carry Trade Unwind
  % Loss-26.2%-7.8%
  % Gain to Breakeven35.5%8.5%
  Time to Breakeven137 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-44.5%-9.5%
  % Gain to Breakeven80.1%10.5%
  Time to Breakeven200 days24 days
2023 SVB Regional Banking Crisis
  % Loss-26.1%-6.7%
  % Gain to Breakeven35.3%7.1%
  Time to Breakeven15 days31 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-46.7%-19.2%
  % Gain to Breakeven87.5%23.8%
  Time to Breakeven22 days105 days

Compare to ENTA, BCRX, GILD, PFE, MRK

In The Past

Cocrystal Pharma's stock fell -37.0% during the 2025 US Tariff Shock. Such a loss loss requires a 58.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Cocrystal Pharma (COCP)

Cocrystal Pharma (COCP) is a biotechnology company focused on the discovery and development of antiviral therapeutic treatments for serious and chronic viral diseases. Leveraging structure-based technologies, the company aims to create drugs to combat infections caused by viruses such as hepatitis C virus (HCV), influenza, coronavirus, and norovirus. Its core business involves the research, preclinical, and clinical development of novel antiviral compounds.

The company's pipeline includes several key assets. CC-31244, an HCV non-nucleoside polymerase inhibitor, has completed Phase IIa clinical trials for treating HCV infection. Additionally, Cocrystal Pharma is developing CC-42344, a PB2 inhibitor in preclinical stages for influenza infection, and is actively identifying non-nucleoside polymerase inhibitors for norovirus infections.

Cocrystal Pharma also strategically partners with other entities to advance its drug candidates and expand its reach. It holds a license and research collaboration agreement with Merck Sharp & Dohme Corp. for influenza A/B antiviral agents, and a license agreement with Kansas State University Research Foundation for norovirus and coronavirus compounds. These collaborations, along with drug discovery partnerships, are crucial to developing its treatments for the broader pharmaceutical market, targeting patients afflicted with these serious viral diseases.

AI Analysis | Feedback

Here are 1-3 brief analogies for Cocrystal Pharma (COCP):

  • Imagine a tiny, research-focused Gilead Sciences, but dedicated to discovering new treatments for a broad range of viral infections.

  • Think of it as a standalone R&D division of a major pharmaceutical company like Merck or Pfizer, specialized purely in finding new antiviral drugs.

AI Analysis | Feedback

  • CC-31244: An antiviral drug that has completed Phase IIa clinical trials for treating Hepatitis C virus (HCV) infection.
  • CC-42344: An antiviral drug in preclinical development for treating influenza infection.
  • Norovirus Antiviral Compounds: Antiviral compounds currently being identified and developed for norovirus infections.
  • Coronavirus Antiviral Compounds: Antiviral compounds under development for the treatment of coronavirus infections.
  • Proprietary Influenza A/B Antiviral Agents: Antiviral agents being discovered and developed in collaboration with Merck for influenza A/B.

AI Analysis | Feedback

Based on the provided description, Cocrystal Pharma (COCP) is a biotechnology company focused on the discovery and development of antiviral therapeutic treatments. Its products are primarily in preclinical or clinical development stages, and it does not appear to sell finished drugs directly to individuals or to typical retail channels like pharmacies or hospitals.

Instead, Cocrystal Pharma generates revenue through strategic partnerships, licensing agreements, and collaborations with other companies and institutions. Therefore, the company sells primarily to other companies and research organizations.

Its major customers and partners, as described, include:

  • Merck Sharp & Dohme Corp. (a subsidiary of Merck & Co., Inc., symbol: MRK): This entity has a license and research collaboration agreement with Cocrystal Pharma to discover and develop influenza A/B antiviral agents.
  • Kansas State University Research Foundation: This institution has a license agreement with Cocrystal Pharma to develop antiviral compounds for norovirus and coronavirus infections.
  • HitGen: Collaborates with Cocrystal Pharma on drug discovery.
  • InterX Inc.: Also collaborates with Cocrystal Pharma on drug discovery.

AI Analysis | Feedback

HitGen (688222.SS)

InterX Inc.

AI Analysis | Feedback

Sam Lee, Ph.D. Co-Chief Executive Officer and President

Dr. Sam Lee has over 25 years of experience in anti-infective drug discovery research. Before joining Cocrystal Pharma, he managed anti-infective drug discovery projects for eight years at Icos Corporation, where he was instrumental in incorporating protein crystallography and structural screening technologies into research and played a key role in developing phosphoinositide 3-kinase (PI3K) delta inhibitors that led to an FDA-approved product. Dr. Lee co-founded Cocrystal Pharma in 2007. He earned his Ph.D. in Biological Sciences from the University of Notre Dame and completed postdoctoral training in viral biochemistry at Stanford University. While at Stanford, Dr. Lee also founded and served as CEO of Viral Assays in Cupertino, CA.

James J. Martin Co-Chief Executive Officer and Chief Financial Officer

Mr. James Martin brings over 25 years of finance and management experience, including providing financial leadership to publicly traded health science companies. Prior to his appointment as CFO of Cocrystal Pharma in June 2017 and subsequently Co-CEO in May 2021, he served as Chief Financial Officer for several companies. These include Motus GI, VBI Vaccines, Inc. (formerly SciVac Therapeutics, Inc.), Vapor Corp, Inc., and SafeStitch before its merger with TransEnterix, Inc. Mr. Martin also holds the position of Chief Financial Officer for Non-Invasive Monitoring Systems, Inc. He holds an undergraduate degree in business administration and an MBA from Barry University and is a Certified Public Accountant.

AI Analysis | Feedback

```html

Key Risks to Cocrystal Pharma (COCP)

  1. Clinical Trial Failure and Regulatory Approval Risk: As a biotechnology company focused on developing antiviral therapeutic treatments, Cocrystal Pharma's success hinges entirely on the ability of its drug candidates to successfully navigate lengthy and costly clinical trials and gain regulatory approval. The pipeline, including CC-31244 for HCV (completed Phase IIa), CC-42344 for influenza (preclinical), and compounds for norovirus and coronavirus, is at various stages of development, with none yet commercialized. Recent challenges, such as the unexpectedly low influenza infection rate in a Phase 2a study for CC-42344, highlight the inherent uncertainties and potential setbacks in drug development. If their lead candidates fail to demonstrate sufficient efficacy or safety, or fail to secure regulatory approval, it would severely impact the company's future revenue generation and viability.
  2. Financial and Capital Risk: Cocrystal Pharma operates as a clinical-stage company with no commercial products, leading to a continuous need for financing to fund its operations. The company has reported ongoing operating losses and zero revenue growth over the past three years. As of September 30, 2025, Cocrystal Pharma had unrestricted cash of only $7.7 million and continued to use significant net cash from operating activities. This fragile liquidity position raises substantial doubts about its ability to sustain operations without additional fundraising, and there's a risk that cash on hand may not fund operations beyond the next 12 months without new capital. Such reliance on equity financing can also lead to shareholder dilution.
  3. Competition and Market Acceptance/Pricing Pressures: The markets for antiviral treatments for diseases such as HCV, influenza, coronavirus, and norovirus are highly competitive, with existing treatments and significant research efforts by other pharmaceutical companies. Even if Cocrystal Pharma's drug candidates successfully pass clinical trials and gain regulatory approval, they will face challenges in competing effectively against established or emerging therapies. Furthermore, the biotechnology industry is increasingly subject to pricing pressures and regulatory requirements to demonstrate economic value, which could impact the profitability and market access of any approved products.
```

AI Analysis | Feedback

null

AI Analysis | Feedback

Cocrystal Pharma (COCP) focuses on developing antiviral therapeutic treatments for several serious viral diseases. The addressable markets for their main product areas are outlined below:

  • Hepatitis C Virus (HCV) Treatments: The global hepatitis C drug market was valued at approximately USD 13.03 billion in 2024 and is projected to grow to USD 18.86 billion by 2033, with a compound annual growth rate (CAGR) of 4.2% during the period of 2026–2033. Another estimate indicates the global hepatitis C drug market is projected to reach USD 26.14 billion by 2032, growing from USD 19.51 billion in 2024 with a CAGR of 3.72% from 2025 to 2032. North America holds a significant share of this market, and the Asia-Pacific region is also a vital segment, valued at USD 2.75 billion in 2024 and forecasted to reach USD 3.8 billion by 2035.

  • Influenza Virus Antiviral Treatments: The global influenza treatment market was estimated at USD 5,912.0 million in 2023 and is projected to reach USD 6,444.8 million by 2030, growing at a CAGR of 1.2% from 2024 to 2030. The global influenza antiviral drugs market is also projected to reach a valuation of approximately USD 5.8 billion by 2033, demonstrating a CAGR of 4.5% from 2025 to 2033.

  • Coronavirus Antiviral Treatments: The global market for specific antiviral drugs for COVID-19 is experiencing rapid growth. It is projected to increase from USD 15.23 billion in 2025 to USD 17.83 billion in 2026 at a CAGR of 17.1%, with an anticipated further growth to USD 33.17 billion in 2030 at a CAGR of 16.8%.

  • Norovirus Treatments: The norovirus treatment market size has shown rapid growth, increasing from USD 1.75 billion in 2024 to USD 1.94 billion in 2025 at an 11% CAGR. This market is expected to reach USD 2.91 billion in 2029 with a CAGR of 10.7%. Another estimate projects the norovirus treatment market to grow from USD 1.94 billion in 2025 to USD 2.15 billion in 2026, with a projected growth to USD 3.22 billion in 2030 at a CAGR of 10.6%. North America was the largest region in the norovirus treatment market in 2024.

AI Analysis | Feedback

For Cocrystal Pharma (COCP), a clinical-stage biotechnology company currently without product sales, future revenue growth over the next 2-3 years is primarily anticipated from the advancement of its proprietary antiviral drug candidates through clinical development and the potential for new strategic collaborations.

The key expected drivers of future revenue growth include:

  1. Advancement and potential commercialization of CDI-988 for norovirus: Cocrystal Pharma's lead oral, broad-spectrum protease inhibitor, CDI-988, is considered a significant future revenue driver. The company commenced a Phase 1b human challenge study for CDI-988 in the first quarter of 2026, evaluating its potential as both a preventive and a treatment for norovirus infections. Norovirus represents a substantial unmet medical need globally, with no approved treatments or vaccines currently available.
  2. Advancement and potential commercialization of CC-42344 for influenza: Another core pipeline asset is CC-42344, an influenza A polymerase inhibitor. The company received authorization in October 2023 to initiate a Phase 2a human challenge trial for CC-42344 as a potential treatment for pandemic and seasonal influenza A. Cocrystal Pharma continues to focus on bringing CC-42344 to market, positioning it as a key antiviral candidate in its development pipeline.
  3. Entry into new strategic partnerships or licensing agreements: As a clinical-stage company, securing new collaborations and licensing agreements based on positive clinical data for its antiviral candidates is a crucial driver for future revenue. Management has expressed optimism regarding potential future partnerships as its clinical data matures. Such agreements could lead to upfront payments, milestone payments, and royalties, similar to past agreements.

AI Analysis | Feedback

Share Issuance

  • In September 2025, Cocrystal Pharma completed a registered direct offering of 2,764,710 shares of common stock at $1.70 per share, generating approximately $4.7 million in gross proceeds.
  • Concurrently in September 2025, the company issued unregistered warrants to purchase up to 5,529,420 shares of common stock at an exercise price of $1.50 per share, which could yield an additional approximately $8.3 million if fully exercised.
  • In October 2025, Cocrystal Pharma completed a private placement with directors and management, raising $1.03 million by selling 743,024 common shares at $1.39 per unit and issuing unregistered warrants to purchase up to 1,486,048 additional shares at an exercise price of $1.24. If these warrants are fully exercised, the company could receive approximately $1.83 million more.

Inbound Investments

  • In October 2025, Cocrystal Pharma received a non-dilutive Small Business Innovation Research (SBIR) Phase I award of approximately $500,000 from the National Institutes of Health (NIH) and National Institute of Allergy and Infectious Diseases (NIAID) to advance its influenza A and B antiviral candidate program.

Capital Expenditures

  • Capital expenditures are minimal in Cocrystal Pharma's business model.
  • The company reported $0 in capital expenditures in the fourth quarter of 2024.
  • Expected growth may require significant capital expenditures in the future.

Peer Outperformance in Biotechnology

COCP has trailed 62% of its 363 Biotechnology peers over 5Y. Biotechnology ranks 10th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that COCP has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
48%
of 455 industry peers · -9.0% return
3Y
45%
of 402 industry peers · -38.9% return
5Y
38%
of 363 industry peers · -90.4% return
null
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is COCP's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 16.2%43.2%90.1% CAH 392% · MCK 346% · COR 168%
Managed Health Care 8 40.4%-5.3%2.3% OSCR 84% · HQY 56% · ELV 17%
Health Care Services 20 21.1%37.6%-0.3% HIMS 239% · RDNT 173% · DGX 76%
Health Care Facilities 24 6.0%6.5%-4.5% NHC 271% · THC 261% · ENSG 129%
Health Care Equipment 50 -2.7%-0.2%-21.1% POCI 11050% · UFPT 341% · GKOS 222%
Pharmaceuticals 62 -10.5%14.8%-38.6% LQDA 2472% · INDV 1099% · ETON 1051%
Health Care Supplies 12 14.1%-8.9%-39.7% LNTH 287% · HAE 54% · MMSI 20%
Life Sciences Tools & Services 109 4.3%-11.3%-68.4% SNWV 1757% · MEDP 231% · NTRA 199%
Health Care Technology 21 -25.8%-52.6%-79.2% SPOK 68% · HSTM 3% · VEEV -13%
Biotechnology ← 364 0.6%-21.7%-79.4% CELZ 1280% · DNTH 1221% · ELVN 1069%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Cocrystal Pharma Earnings Notes12/16/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

COCPENTABCRXGILDPFEMRKMedian
NameCocrysta.Enanta P.BioCryst.Gilead S.Pfizer Merck  
Mkt Price1.2112.208.68150.1127.66146.8719.93
Mkt Cap0.00.42.2186.6157.6362.879.9
Rev LTM06594130,45663,69566,56915,698
Op Inc LTM-10-59-31311,71617,0196,9853,487
FCF LTM-8-3737312,94310,98516,0635,679
FCF 3Y Avg-12-601019,7369,41114,6444,756
CFO LTM-8-3537613,55213,40119,9676,889
CFO 3Y Avg-12-4910310,29612,19818,3975,200

Growth & Margins

COCPENTABCRXGILDPFEMRKMedian
NameCocrysta.Enanta P.BioCryst.Gilead S.Pfizer Merck  
Rev Chg LTM-0.7%68.7%5.5%-0.2%4.6%4.6%
Rev Chg 3Y Avg--6.7%46.4%3.6%-5.2%4.5%3.6%
Rev Chg Q--21.6%33.6%10.2%2.6%5.1%5.1%
QoQ Delta Rev Chg LTM46.7%-5.7%6.2%2.4%0.6%1.2%1.8%
Op Inc Chg LTM20.5%39.3%-677.8%7.6%2.1%-64.8%4.9%
Op Inc Chg 3Y Avg17.4%22.8%-147.1%-0.8%233.9%36.7%20.1%
Op Mgn LTM-3,063.6%-90.0%-33.3%38.5%26.7%10.5%-11.4%
Op Mgn 3Y Avg--136.7%-13.1%37.0%18.7%22.4%18.7%
QoQ Delta Op Mgn LTM951.5%-2.7%9.8%-1.6%-0.5%-9.2%-1.0%
CFO/Rev LTM-2,410.3%-54.1%40.0%44.5%21.0%30.0%25.5%
CFO/Rev 3Y Avg--71.6%7.0%35.2%19.7%28.6%19.7%
FCF/Rev LTM-2,410.3%-56.6%39.7%42.5%17.2%24.1%20.7%
FCF/Rev 3Y Avg--87.8%6.7%33.3%15.1%22.8%15.1%

Valuation

COCPENTABCRXGILDPFEMRKMedian
NameCocrysta.Enanta P.BioCryst.Gilead S.Pfizer Merck  
Mkt Cap0.00.42.2186.6157.6362.879.9
P/S50.65.42.36.12.55.45.4
P/Op Inc-1.7-6.0-7.115.99.351.93.8
P/EBIT-1.7-7.1-7.2-195.022.847.2-4.4
P/E-1.7-5.6-5.7-57.636.4114.3-3.6
P/CFO-2.1-10.05.913.811.818.28.8
Total Yield-59.6%-17.8%-17.4%0.4%9.0%3.2%-8.5%
Dividend Yield0.0%0.0%0.0%2.2%6.2%2.3%1.1%
FCF Yield 3Y Avg-67.8%-24.1%2.9%7.7%6.7%5.6%4.2%
D/E0.10.20.40.10.40.10.2
Net D/E-0.0-0.40.20.10.30.10.1

Returns

COCPENTABCRXGILDPFEMRKMedian
NameCocrysta.Enanta P.BioCryst.Gilead S.Pfizer Merck  
1M Rtn5.2%-9.4%-9.1%3.3%-1.5%-3.2%-2.3%
3M Rtn21.6%-3.6%-3.4%22.0%11.6%29.7%16.6%
6M Rtn17.5%-2.5%-10.5%10.7%6.1%30.3%8.4%
12M Rtn-9.0%59.7%12.7%34.8%23.2%85.5%29.0%
3Y Rtn-38.9%3.3%21.2%119.2%2.1%50.8%12.3%
1M Excs Rtn6.4%-9.0%-13.1%3.0%-1.3%-2.2%-1.7%
3M Excs Rtn19.6%-5.6%-5.4%20.0%9.6%27.7%14.6%
6M Excs Rtn-4.8%-22.0%-27.3%-8.1%-11.4%14.5%-9.8%
12M Excs Rtn-16.3%45.9%-3.2%21.1%7.2%70.4%14.1%
3Y Excs Rtn-110.4%-84.0%-45.1%44.3%-72.8%-21.0%-59.0%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320202019
Research and development Company’s novel orally administered antiviral influenza candidate00027
Total00027


Net Income by Segment
$ Mil202520242023
Research and development Company’s novel orally administered antiviral influenza candidate-9-18-18
Total-9-18-18


Assets by Segment
$ Mil20232022202120182017
Research and development Company’s novel orally administered antiviral influenza candidate31417969121
Total31417969121


Price Behavior

Price Behavior
Market Price$1.21 
Market Cap ($ Bil)0.0 
First Trading Date05/23/2014 
Distance from 52W High-22.9% 
   50 Days200 Days
DMA Price$1.06$1.10
DMA Trendupup
Distance from DMA14.3%10.0%
 3M1YR
Volatility55.9%76.6%
Downside Capture53.14199.69
Upside Capture151.55155.12
Correlation (SPY)29.0%27.7%
COCP Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta3.142.321.441.401.640.75
Up Beta4.432.471.76-0.010.960.77
Down Beta1.443.241.840.951.620.29
Up Capture519%234%123%234%181%39%
Bmk +ve Days10213268138427
Stock +ve Days13193056105320
Down Capture-150%171%110%178%158%106%
Bmk -ve Days11213259113324
Stock -ve Days7203063127388

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with COCP
COCP-0.4%76.5%0.28-
Sector ETF (XLV)24.4%16.1%1.1610.3%
Equity (SPY)16.9%12.9%0.9427.6%
Gold (GLD)19.1%29.3%0.6013.5%
Commodities (DBC)46.3%20.6%1.737.3%
Real Estate (VNQ)4.9%13.6%0.1019.9%
Bitcoin (BTCUSD)-30.6%44.3%-0.7025.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with COCP
COCP-37.9%75.0%-0.32-
Sector ETF (XLV)6.4%15.2%0.248.0%
Equity (SPY)12.9%17.2%0.5715.7%
Gold (GLD)19.1%18.8%0.837.0%
Commodities (DBC)11.2%19.5%0.452.8%
Real Estate (VNQ)1.1%18.8%-0.0512.1%
Bitcoin (BTCUSD)12.5%52.5%0.4212.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with COCP
COCP-32.0%114.5%0.06-
Sector ETF (XLV)10.6%16.7%0.511.2%
Equity (SPY)15.1%18.0%0.724.4%
Gold (GLD)12.1%16.4%0.614.5%
Commodities (DBC)8.3%18.1%0.370.8%
Real Estate (VNQ)4.4%20.7%0.184.3%
Bitcoin (BTCUSD)62.6%66.2%1.024.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity0.3 Mil
Short Interest: % Change Since 81520264.9%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest5.2 days
Basic Shares Quantity13.8 Mil
Short % of Basic Shares2.3%

Earnings Returns History

Updated 9/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/31/20261.0%47.0%39.0%
11/14/20250.0%-10.7%-4.5%
8/14/20250.0%-9.5%-6.0%
5/15/2025-1.4%-2.1%5.5%
11/13/202424.3%16.4%7.8%
8/14/2024-10.5%0.5%-11.6%
5/13/20240.0%12.8%57.3%
3/28/2024-6.7%-2.0%3.7%
...
SUMMARY STATS   
# Positive856
# Negative7109
Median Positive0.6%12.8%6.6%
Median Negative-5.0%-9.4%-11.6%
Max Positive24.3%47.0%57.3%
Max Negative-10.5%-13.2%-30.8%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/31/20261.0%47.0%39.0%
11/14/20250.0%-10.7%-4.5%
8/14/20250.0%-9.5%-6.0%
5/15/2025-1.4%-2.1%5.5%
11/13/202424.3%16.4%7.8%
8/14/2024-10.5%0.5%-11.6%
5/13/20240.0%12.8%57.3%
3/28/2024-6.7%-2.0%3.7%
11/13/2023-1.1%-11.1%-7.4%
8/16/2023-4.2%1.4%-30.8%
5/15/2023-5.3%-13.2%-1.9%
8/15/20223.4%-9.3%-21.6%
5/11/2022-5.0%-2.1%2.5%
3/23/20221.8%-3.4%-11.6%
11/15/20210.2%-9.7%-21.8%
SUMMARY STATS   
# Positive856
# Negative7109
Median Positive0.6%12.8%6.6%
Median Negative-5.0%-9.4%-11.6%
Max Positive24.3%47.0%57.3%
Max Negative-10.5%-13.2%-30.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/15/202610-Q
12/31/202503/31/202610-K
09/30/202511/14/202510-Q
06/30/202508/14/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
09/30/202411/13/202410-Q
06/30/202408/14/202410-Q
03/31/202405/13/202410-Q
12/31/202303/28/202410-K
09/30/202311/13/202310-Q
06/30/202308/14/202310-Q
03/31/202305/15/202310-Q
12/31/202203/29/202310-K
09/30/202211/14/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/15/202610-Q
12/31/202503/31/202610-K
09/30/202511/14/202510-Q
06/30/202508/14/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
09/30/202411/13/202410-Q
06/30/202408/14/202410-Q
03/31/202405/13/202410-Q
12/31/202303/28/202410-K
09/30/202311/13/202310-Q
06/30/202308/14/202310-Q
03/31/202305/15/202310-Q
12/31/202203/29/202310-K
09/30/202211/14/202210-Q
06/30/202208/15/202210-Q
03/31/202205/11/202210-Q
12/31/202103/23/202210-K
09/30/202111/15/202110-Q
06/30/202108/16/202110-Q
03/31/202105/17/202110-Q
12/31/202003/17/202110-K
09/30/202011/13/202010-Q
06/30/202008/06/202010-Q
03/31/202005/13/202010-Q
12/31/201903/27/202010-K
09/30/201911/12/201910-Q

Insider Activity

Updated 8/5/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy80520260.9475,00070,5901,866,918Form
2Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy22520261.0020,00019,9521,903,970Form
3Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy20920260.9550,00047,2801,785,814Form
4Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy10220260.9550,00047,2751,738,350Form
5Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy123120250.9720,00019,3101,726,846Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy80520260.9475,00070,5901,866,918Form
2Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy22520261.0020,00019,9521,903,970Form
3Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy20920260.9550,00047,2801,785,814Form
4Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy10220260.9550,00047,2751,738,350Form
5Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy123120250.9720,00019,3101,726,846Form
6Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy122920250.9740,00038,9441,721,861Form
7Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy122920250.9725,00024,2581,677,213Form
8Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy112820250.994,0003,9751,692,904Form
9Frost, Phillip MD ET ALFrost Gamma Investments TrustBuy112520250.9420,00018,8121,598,598Form
Core Cache Last Updated: 9/20/2026