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Cocrystal Pharma

COCP
32
Biotechnology · Healthcare
Price
$1.12
+0.04 (+3.70%)
Market Cap
$15.4M
Exchange
NASDAQ Capital Market
Winston Score
32
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 13, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+46.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 7.7M (2021) → 11.3M (2025)

Cocrystal Pharma is a small biotechnology company that tries to develop new antiviral medicines — drugs that fight viruses. Its main focus is on creating treatments for influenza (the flu), norovirus (stomach bugs), and hepatitis C. The company uses a special scientific method called "structure-based drug design" to build drug candidates, meaning it studies the shape of viruses at a molecular level to design drugs that can block them.

Cocrystal makes no product revenue yet — it is entirely in the research and development stage, which explains its deeply negative operating margin. The company is based in the United States and is very small, with a market cap near zero and no approved drugs on the market. It funds operations primarily through stock offerings, which dilutes existing shareholders over time. The biggest risk is that drug development is expensive and uncertain, and Cocrystal must successfully advance a drug candidate through clinical trials and find a partner or funding source before its cash runs out.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

+26.1% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$5M/ year

Declining (-60% vs prior year)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

33.8%ownership

Insiders own a meaningful stake in the company

Cash Runway

~6 months

$5M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Cocrystal Pharma has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
59.6%
Premium pricing power — 59.6% gross margin
Operating Margin
-1047.1%
Losing money on operations — -1047.1%
ROCE
-52.8%
Weak — -52.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
N/A
Data not available
EPS YoY
N/A
Data not available
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-3463.2%
Burning cash (-3463.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
0.08
Conservative — low debt load (0.08)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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