Business
Cocrystal Pharma Reports Second Quarter 2020 Financial Results and Provides Updates on Antiviral Programs
– COVID-19 program in preclinical development; Discussions with potential strategic partners ongoing – – Merck collaboration to discover and develop influenza
About this update from Cocrystal Pharma, Inc.
[{"type":"text","content":"– COVID-19 program in preclinical development; Discussions with potential strategic partners ongoing –\n – Merck collaboration to discover and develop influenza A/B antiviralagents progresses – BOTHELL, WA, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Cocrystal Pharma, Inc. (NASDAQ: COCP), (“Cocrystal” or the “Company”), a clinical stage biotechnology company discovering and developing novel antiviral therapeutics, today announced its financial results for the quarter ended June 30, 2020 and provided program updates. Recent Highlights Expanded license with Kansas State University Research Foundation (“KSURF”) for rights to additional broad-spectrum antiviral compounds to treat Coronavirus infections.Publication by collaborators of data demonstrating potent in vitro inhibition against Coronavirus in Science Translational Medicine Journal.Appointed Roger D. Kornberg, Ph.D., a Nobel Laureate to its Board of Directors. “We have continued to move our antiviral programs forward. We are encouraged by our preclinical studies of COVID-19 inhibitors,” commented Dr. Gary Wilcox, Chairman and Chief Executive Officer of Cocrystal. “With a foundation of strong fundamentals, we believe Cocrystal is poised to build shareholder value.” Development Programs Overview COVID-19 Coronavirus Program: Aggressively pursuing the development of novel antiviral compounds for the treatment of coronavirus infections using our established proprietary drug discovery platform. The compounds licensed from KSURF have demonstrated in vitro anti-SARS-CoV-2 activity responsible for the COVID-19 pandemic, and in vivo efficacy in MERS-CoV-infected animal models. Cocrystal initiated its preclinical studies of COVID-19 inhibitors during the second quarter and is currently developing additional COVID-19 inhibitors utilizing its proprietary platform technology. The Company is in discussions with potential strategic partners. Influenza A/B Inhibitors: Merck CollaborationExclusive license and collaboration agreement with Merck to discover and develop proprietary influenza A/B antiviral agents. Cocrystal’s exclusive license and collaboration agreement with Merck Sharp & Dohme Corp. (“Merck”) to discover and develop proprietary influenza A/B antiviral agents is ongoing. Merck has funded the collaborative influenza A/B program and could potentially provide up to $156 million in milestone...