COCP - Cocrystal Pharma (COCP) - 2Q Reported With Influenza and COVID-19 Product Updates

2Q Included One-Time Charges. Cocrystal reported a loss of $24.4 million or $(0.25) per share, including a write-off of goodwill for $19.1 million and a legal settlement expense of $1.6 million. Operating expenses excluding these charges were $3.7 million, compared with our estimated operating expenses of $3.8 million. The company ended the quarter with $51.0 million in cash.Influenza Program Reported First Data With More Expected Later in 2022. The company reported that data from CC-42344, its oral PB2 inhibitor that blocks a polymerase enzyme needed for viral replication. Data from a single-ascending dose study supporting the once-daily dosing schedule. Additional results from the Phase 1 study enrolling healthy volunteers in Australia are expected to be announced later this year. Read More >>