Opko Health invests $5M in Cocrystal Pharma via private placement

Cocrystal Pharma (NASDAQ: COCP) announced a $5 million private placement with OPKO Health (NASDAQ: OPK), under which OPKO purchased 5,474,053 shares of Cocrystal common stock at $0.9134 per share, based on the Nasdaq Consolidated Bid Price on the trading day of closing. No warrants or other derivative securities were included in the transaction.

The shares were sold as unregistered securities under Section 4(a)(2) of the Securities Act of 1933 and Regulation D. OPKO is described in the press release as a longtime investor in Cocrystal.

James Sapirstein, Chief Executive Officer of Cocrystal Pharma, said the company expects to report topline data from its Phase 1b norovirus trial by the end of the fourth quarter of 2026. He also referenced the company's pipeline candidate CDI-988 and broader programs targeting influenza, coronaviruses, and hepatitis C.

Dr. Phillip Frost, Chairman and Chief Executive Officer of OPKO Health, who is also a co-founder, director, and principal stockholder of Cocrystal, said the investment reflects continued conviction in the company's science. Cocrystal is currently conducting a Phase 1b clinical trial of CDI-988 for norovirus.

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