Cocrystal Pharma, Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: COCP · Form: 10-Q · Filed: May 13, 2024 · CIK: 1412486
| Field | Detail |
|---|---|
| Company | Cocrystal Pharma, INC. (COCP) |
| Form Type | 10-Q |
| Filed Date | May 13, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, Cocrystal Pharma, Financial Report, Pharmaceuticals, SEC Filing
TL;DR
<b>Cocrystal Pharma, Inc. has filed its Q1 2024 10-Q report, detailing its financial status and business operations.</b>
AI Summary
Cocrystal Pharma, Inc. (COCP) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Cocrystal Pharma, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's principal business address is 19805 N. Creek Parkway, Bothell, WA 98011. Cocrystal Pharma, Inc. was formerly known as BIOZONE PHARMACEUTICALS, INC. and International Surf Resorts, Inc. The filing covers the period from January 1, 2024, to March 31, 2024. The company's Standard Industrial Classification is Pharmaceutical Preparations [2834].
Why It Matters
For investors and stakeholders tracking Cocrystal Pharma, Inc., this filing contains several important signals. This 10-Q filing provides crucial updates on Cocrystal Pharma's financial health and operational progress for the first quarter of 2024, which is essential for investors to assess the company's performance and future prospects. Understanding the company's historical name changes and its current SIC code helps in contextualizing its business focus within the pharmaceutical industry and tracking its corporate evolution.
Risk Assessment
Risk Level: low — Cocrystal Pharma, Inc. shows low risk based on this filing. The filing is a standard 10-Q report, which typically contains routine financial and operational information, and does not indicate any immediate or significant risks based solely on the header information.
Analyst Insight
Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Cocrystal Pharma's current financial position and operational performance.
Key Numbers
- 2024-03-31 — Period End Date (Conformed Period of Report)
- 2024-05-13 — Filing Date (Filed as of Date)
- 2024-01-01 — Quarter Start Date (Reporting period)
- 2023-03-31 — Prior Year Quarter End Date (Reporting period)
Key Players & Entities
- Cocrystal Pharma, Inc. (company) — Filer name
- BIOZONE PHARMACEUTICALS, INC. (company) — Former company name
- International Surf Resorts, Inc. (company) — Former company name
- 2024-03-31 (date) — Period of report
- 2024-05-13 (date) — Filing date
- 2834 (industry_code) — Standard Industrial Classification
FAQ
When did Cocrystal Pharma, Inc. file this 10-Q?
Cocrystal Pharma, Inc. filed this Quarterly Report (10-Q) with the SEC on May 13, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Cocrystal Pharma, Inc. (COCP).
Where can I read the original 10-Q filing from Cocrystal Pharma, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Cocrystal Pharma, Inc..
What are the key takeaways from Cocrystal Pharma, Inc.'s 10-Q?
Cocrystal Pharma, Inc. filed this 10-Q on May 13, 2024. Key takeaways: Cocrystal Pharma, Inc. filed a 10-Q report for the period ending March 31, 2024.. The company's principal business address is 19805 N. Creek Parkway, Bothell, WA 98011.. Cocrystal Pharma, Inc. was formerly known as BIOZONE PHARMACEUTICALS, INC. and International Surf Resorts, Inc..
Is Cocrystal Pharma, Inc. a risky investment based on this filing?
Based on this 10-Q, Cocrystal Pharma, Inc. presents a relatively low-risk profile. The filing is a standard 10-Q report, which typically contains routine financial and operational information, and does not indicate any immediate or significant risks based solely on the header information.
What should investors do after reading Cocrystal Pharma, Inc.'s 10-Q?
Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Cocrystal Pharma's current financial position and operational performance. The overall sentiment from this filing is neutral.
How does Cocrystal Pharma, Inc. compare to its industry peers?
Cocrystal Pharma operates within the Pharmaceutical Preparations industry, focusing on the development and commercialization of antiviral therapeutics.
Are there regulatory concerns for Cocrystal Pharma, Inc.?
As a publicly traded company, Cocrystal Pharma is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to disclose financial and operational information.
Industry Context
Cocrystal Pharma operates within the Pharmaceutical Preparations industry, focusing on the development and commercialization of antiviral therapeutics.
Regulatory Implications
As a publicly traded company, Cocrystal Pharma is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to disclose financial and operational information.
What Investors Should Do
- Analyze the financial statements for revenue, net income, and cash flow for Q1 2024.
- Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into business performance and outlook.
- Examine any disclosures related to ongoing clinical trials, partnerships, or regulatory developments.
Key Dates
- 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
- 2024-05-13: Filing Date — Date the 10-Q report was officially filed with the SEC.
Year-Over-Year Comparison
This is the initial 10-Q filing for the fiscal year 2024, providing the first set of quarterly financial data for the year.
Filing Stats: 4,530 words · 18 min read · ~15 pages · Grade level 14.9 · Accepted 2024-05-13 08:00:46
Key Financial Figures
- $0.001 — he registrant's common stock, par value $0.001 per share, was approximately 10,173,790
Filing Documents
- form10-q.htm (10-Q) — 529KB
- ex31-1.htm (EX-31.1) — 12KB
- ex31-2.htm (EX-31.2) — 12KB
- ex31-3.htm (EX-31.3) — 12KB
- ex32-1.htm (EX-32.1) — 11KB
- 0001493152-24-018787.txt ( ) — 3390KB
- cocp-20240331.xsd (EX-101.SCH) — 30KB
- cocp-20240331_cal.xml (EX-101.CAL) — 39KB
- cocp-20240331_def.xml (EX-101.DEF) — 110KB
- cocp-20240331_lab.xml (EX-101.LAB) — 258KB
- cocp-20240331_pre.xml (EX-101.PRE) — 195KB
- form10-q_htm.xml (XML) — 412KB
- FINANCIAL INFORMATION
Part I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Balance Sheets F-1 Condensed Consolidated Statements of Operations F-2 Condensed Consolidated Statements of Stockholders' Equity F-3 Condensed Consolidated Statements of Cash Flows F-4 Notes to the Condensed Consolidated Financial Statements F-5
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 3
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 9
Controls and Procedures
Item 4. Controls and Procedures 9
- OTHER INFORMATION
Part II - OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 10
A. Risk Factors
Item 1. A. Risk Factors 10
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 10
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 10
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 10
Other Information
Item 5. Other Information 10
Exhibits
Item 6. Exhibits 11
SIGNATURES
SIGNATURES 12 2 Part I – FINANCIAL INFORMATION COCRYSTAL PHARMA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) March 31, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash $ 21,842 $ 26,353 Restricted cash 75 75 Tax credit receivable 1,003 890 Prepaid expenses and other current assets 1,572 1,773 Total current assets 24,492 29,091 Property and equipment, net 244 271 Deposits 46 46 Operating lease right-of-use assets, net (including $ 26 and $ 42 to related party) 1,764 1,851 Total assets $ 26,546 $ 31,259 Liabilities and stockholders' equity Current liabilities: Accounts payable and accrued expenses $ 2,139 $ 3,022 Current maturities of operating lease liabilities (including $ 26 and $ 42 to related party) 240 240 Total current liabilities 2,379 3,262 Long-term liabilities: Operating lease liabilities (including $ 0 and $ 0 to related party) 1,582 1,613 Total long-term liabilities 1,582 1,613 Total liabilities 3,961 4,875 Commitments and contingencies - - Stockholders' equity: Common stock, $ 0.001 a par value: 150,000 shares authorized as of March 31, 2024, and December 31, 2023; 10,174 shares issued and outstanding as of March 31, 2024 and December 31, 2023 10 10 Additional paid-in capital 342,445 342,288 Accumulated deficit ( 319,870 ) ( 315,914 ) Total stockholders' equity 22,585 26,384 Total liabilities and stockholders' equity $ 26,546 $ 31,259 See accompanying notes to condensed consolidated financial statements. F-1 COCRYSTAL PHARMA, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share data) Three months ended March 31, 2024 2023 Operating expenses: Research and development 2,950 3,907 General and administrative 1,208 1,204 Total operating expenses 4,158 5,111 Loss from operations ( 4,158 ) ( 5,111 ) Other income (expense)