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good things take time
Cocrystal Pharma Announces Closing of $40 Million Bought Deal
May 07 2021 - 04:05PM
GlobeNewswire Inc.
Cocrystal Pharma, Inc. (Nasdaq: COCP), (“Cocrystal” or the “Company”), a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, coronaviruses, hepatitis C viruses and noroviruses, today announced the closing of its previously announced public offering of 26,000,000 shares of common stock of the Company, at a price to the public of $1.54 per share, less underwriting discounts and commissions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The gross proceeds to Cocrystal, before deducting underwriting discounts and commissions and offering expenses, were approximately $40 million. The Company intends to use the net proceeds from this offering for the expansion of its COVID-19 and Influenza treatment development programs and general corporate purposes and working capital.
The shares of common stock were offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-237738) originally filed with the Securities and Exchange Commission (the "SEC") on April 17, 2020, and declared effective by the SEC on May 13, 2020. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to, and describing the terms of, the offering were filed with the SEC and will be available on the SEC's website at https://www.sec.gov/ and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or e-mail at placements@hcwco.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Cocrystal Pharma, Inc.
Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of coronaviruses (including SARS-CoV-2), influenza viruses, hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to our ability to complete the offering, our intended use of proceeds and other statements that are not historical fact. We have based these forward-looking statements largely on our current expectations and projections about future events. Some or all of the events anticipated by these forward-looking statements may not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to, risks arising from our reliance on continuing collaboration with Merck Sharp & Dohme Corp. under the collaboration agreement entered into last year, market and other conditions, the availability of products manufactured by third parties, the future results of preclinical and clinical studies, the research organization’s inability to recruit subjects and complete the Phase 2a study in a timely manner or at all, including as the result of civil unrest and political instability in Hong Kong, general risks arising from clinical trials, receipt of regulatory approvals, our ability to find and enter into agreements with suitable collaboration partners, unanticipated litigation and other expenses and factors that affect the capital markets in general and early stage biotechnology companies specifically. Further information on our risk factors is contained in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Investor Contact:
LHA Investor Relations
Jody Cain
310-691-7100
jcain@lhai.com
# # #
Primary Logo
Cocrystal Pharma Announces Closing of $40 Million Bought Deal
May 07 2021 - 04:05PM
GlobeNewswire Inc.
Cocrystal Pharma, Inc. (Nasdaq: COCP), (“Cocrystal” or the “Company”), a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, coronaviruses, hepatitis C viruses and noroviruses, today announced the closing of its previously announced public offering of 26,000,000 shares of common stock of the Company, at a price to the public of $1.54 per share, less underwriting discounts and commissions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The gross proceeds to Cocrystal, before deducting underwriting discounts and commissions and offering expenses, were approximately $40 million. The Company intends to use the net proceeds from this offering for the expansion of its COVID-19 and Influenza treatment development programs and general corporate purposes and working capital.
The shares of common stock were offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-237738) originally filed with the Securities and Exchange Commission (the "SEC") on April 17, 2020, and declared effective by the SEC on May 13, 2020. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to, and describing the terms of, the offering were filed with the SEC and will be available on the SEC's website at https://www.sec.gov/ and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or e-mail at placements@hcwco.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Cocrystal Pharma, Inc.
Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of coronaviruses (including SARS-CoV-2), influenza viruses, hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to our ability to complete the offering, our intended use of proceeds and other statements that are not historical fact. We have based these forward-looking statements largely on our current expectations and projections about future events. Some or all of the events anticipated by these forward-looking statements may not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to, risks arising from our reliance on continuing collaboration with Merck Sharp & Dohme Corp. under the collaboration agreement entered into last year, market and other conditions, the availability of products manufactured by third parties, the future results of preclinical and clinical studies, the research organization’s inability to recruit subjects and complete the Phase 2a study in a timely manner or at all, including as the result of civil unrest and political instability in Hong Kong, general risks arising from clinical trials, receipt of regulatory approvals, our ability to find and enter into agreements with suitable collaboration partners, unanticipated litigation and other expenses and factors that affect the capital markets in general and early stage biotechnology companies specifically. Further information on our risk factors is contained in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Investor Contact:
LHA Investor Relations
Jody Cain
310-691-7100
jcain@lhai.com
# # #
Primary Logo
Dilution will easily send this back under buck.
Wow! Did Raymknd Schinazi check with Phillip Frost before he sold 575,000 shares at $ 2.50-$3.50 per share? This is not a good sign for a stock that is suppose to be going to $50. Cant believe he was miraculously lucky in his timing to align with a fund raise by the company aaaand a bluesky event.
Frost would of bought his shares or lent him the money if he was in a bind Im sure!
it did, 'Cocrystal Pharma Inc. (COCP)'
Ahhhh! Back to normal now, just needed to dilute 40 million shares into the system. Whew! That was quite the ride!
hi peter, i like 'Cocrystal Pharma Inc. (COCP)'
Current Report Filing (8-k)
May 05 2021 - 05:03PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 4, 2021
Cocrystal Pharma, Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-38418 35-2528215
(State or other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
19805 N. Creek Parkway
Bothell, WA
98011
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (786) 459-1831
(Former name or former address, if changed since last report.):
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Trading Symbol(s) Name of each exchange on which registered
Common Stock COCP The Nasdaq Stock Market LLC
(The Nasdaq Capital Market)
Item 1.01 Entry into a Material Definitive Agreement.
On May 4, 2021, Cocrystal Pharma, Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with H.C. Wainwright & Co., LLC (the “Underwriter”), pursuant to which the Company agreed to issue and sell 26,000,000 shares of the Company’s common stock, par value $0.001 per share, at a public offering price of $1.54 per share, less underwriting discounts and commissions (the “Offering”). The Company expects to receive approximately $36.4 million in net proceeds from the Offering, after deducting underwriting discounts and estimated offering expenses.
The closing of the Offering is expected to occur on or about May 7, 2021.
The shares are being offered and sold pursuant to the Company’s effective registration statement on Form S-3 (Registration No. 333-237738), which was declared effective by the Securities and Exchange Commission (the “SEC”) on May 13, 2020, and the base prospectus included therein, as amended and supplemented by the prospectus supplement filed with the SEC on May 5, 2021.
The Underwriter is acting as the sole book-running manager for the Offering. The Company will pay the Underwriter an underwriting discount equal to 7.5% of the gross proceeds of the Offering and a management fee equal to 1% of the gross proceeds of the Offering and reimburse the Underwriter for a non-accountable expense allowance of $50,000, up to $90,000 in legal fees and $15,950 for the clearing expenses.
The Underwriting Agreement contains customary representations, warranties and covenants of the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriter, including for liabilities under the Securities Act of 1933, and termination and other provisions customary for transactions of this nature. Pursuant to the Underwriting Agreement, subject to limited exceptions, the Company agreed not to sell any shares of its common stock or any securities convertible into, or exercisable for, common stock for a period ending 90 days after the closing of the Offering, without first obtaining the written consent of the Underwriter.
The foregoing description of the terms and conditions of the Underwriting Agreement and the Offering does not purport to be complete and is subject to, and qualified in its entirety by reference to, the Underwriting Agreement, which is filed herewith as Exhibit 1.1 and is incorporated herein by reference.
A copy of the opinion of Nason, Yeager, Gerson, Harris & Fumero, P.A. relating to the validity of the issuance and sale of shares of the Company’s common stock pursuant to the Underwriting Agreement is also filed herewith as Exhibit 5.1. The Underwriting Agreement and the opinion filed herewith are incorporated by reference into the above referenced Registration Statement on Form S-3.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No.
Description.
1.1 Underwriting Agreement, dated as of May 4, 2021 by and between Cocrystal Pharma, Inc. and H.C. Wainwright & Co., LLC *
5.1 Opinion of Nason, Yeager, Gerson, Harris & Fumero, P.A.
23.1 Consent of Nason, Yeager, Gerson, Harris & Fumero, P.A. (included in the opinion of Nason, Yeager, Gerson, Harris & Fumero, P.A. as Exhibit 5.1)
* Exhibits and/or Schedules have been omitted. The Company hereby agrees to furnish to the Commission upon request any omitted information.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Cocrystal Pharma, Inc.
Date: May 5, 2021 By: /s/ James Martin
Name: James Martin
Title: Chief Financial Officer
Shares of Cocrystal Pharma Inc. COCP, -31.31% plunged 28.3% in active premarket trading, after the biotechnology company announced a $40 million common stock offering. The company announced the offering Tuesday's closing bell, after the stock rocketed 72.6% on Tuesday after the announcement that "progress" was made in the development of the company's antiviral drug candidates targeting coronaviruses including those that cause COVID-19. Cocrystal said underwriter H.C. Wainwright & Co. has agreed to buy 26.0 million shares of its common stock, which represents about 36% of the shares outstanding, at a price to the public of $1.54 a share, which is 28% below Tuesday's closing price of $2.14. Cocrystal said it plans to use the proceeds from the offering to expand its COVID-19 and influenza treatment development programs. The stock has rallied 57.4% year to date through Tuesday, while the iShares Nasdaq Biotechnology ETF IBB, -0.89% has slipped 0.8% and the S&P 500 SPX, +0.07% has gained 10.9%.
Took all I could at the upper $2.90’s yesterday. Glad I did take from this company. I’ll do it all over again as well...
I wish you the best of luck sir. Will never see a day like that again maybe down the road after a r/s and that's a big maybe. Had a lot of forces behind it that are are gone now. Made thier 100% and took off. Idk but Gluck g. Will be falling through crucial supports in near future imho could be wrong idk
It is going lower low tomorrow below $1.68
Got them cheaper than I thought Im glad we played the extra 9 holes lol
Tanked this evening in the cowboy market.
Put a fork in it, it's done.
So who thought me selling 50000 shares todays was crazy? I see its trading 1.68 right now. I feel bad for those that bought above 3.00. I just bought back some shares
With their hat officially in the covid ring, expect more days like today.
It will prob will never have a volume day like today again, imho. Approximately 10x more volume than any day before. I think some support will be momentarily around the daily SMA's.
That’s how it’s done .....this stock used to be a great flipper last year, but I believe it’s on the rise indefinitely now.
* * $COCP Video Chart 05-04-2021 * *
Link to Video - click here to watch the technical chart video
Why animals studies if everyone is already getting vaccines? Seems backwards, human trials before mice... Doesn't even make sense, just sayin'
The overall market dropped so stop loss traders got locked out. COCP has bee prefect most of the day. Looking forward to alot more than todays highs ahead IMO this week with what is happening in Idi. It is on Fox news right now just how serious it is.
I took profits above $3 dollar. Might reloaded if I see it fit.
Still holding we are doing awesome the stop loss sellers always get eaten by investors in the end. We have climbed perfect since the open and since pre market it was just the drop from the HOD that triggered stop losses.
yes & intraday trading Cocrystal Pharma Inc. (COCP)'
add me to your group when you buying. I have some to play
Thanks! Banking heavy today. Was lucky...
we miss you at snpw
Selling at 2 bucks??
Have faith and hang on, this news will travel more than a buck or two.
I always sell into crazy thank you COCP. If it comes back to low 2's I will buy shares back. This was a great trade if I say so myself lol.Good luck
Wow just sold another 5k @2.80 this is nice but crazy
Volume is unsustainable imho where can you get locates?
just sold another 5000 shares here at 2.15. 25 k shares left lets see how the day unfolds. Have a great day
Well this is a great way to start the week with COCP - just sold a bunch above 1.90 ca chinnng
04/20/2021 Bought 50000 COCP @ 1.14
Almost -500% operating margin, revenues $0.04 Per Share
Profitability
Profit Margin 0.00%
Operating Margin (ttm) -475.97%
Management Effectiveness
Return on Assets (ttm) -14.48%
Return on Equity (ttm) -24.67%
Income Statement
Revenue (ttm) 2.01M
Revenue Per Share (ttm) 0.04
Gross Profit (ttm) -4.29M
EBITDA -9.43M
Net Income Avi to Common (ttm) -9.65M
Diluted EPS (ttm) -0.1750
Cash Flow Statement
Operating Cash Flow (ttm) -9.83M
Levered Free Cash Flow (ttm) -6.25M
Good Morning Awesome premarket rockin $$$
$COCP is screaming for the top for the second session in a row after announcing a COVID-19 therapeutic development update. https://cnafinance.com/cocrystal-pharma-cocp-stock-rockets-on-covid-19-news/
*W* formation wit long handle [-chart]www.stockscores.com/chart.asp?TickerSymbol=COCP&TimeRange=15&Interval=30&Volume=1&ChartType=CandleStick&Stockscores=1&ChartWidth=1100&ChartHeight=480&LogScale=None&Band=None&avgType1=SMA&movAvg1=20&avgType2=None&movAvg2=&Indicator1=RSI&Indicator2=None&Indicator3=None&Indicator4=None&endDate=&CompareWith=&entryPrice=&stopLossPrice=&candles=redgreen[/chart]
$COCP CASH COW, $31.781M Cash Reading DD & Theory NEWS RELEASE 3-AUG-2020 New published study from K-State virologists identifies potential COVID-19 treatment
KANSAS STATE UNIVERSITY
https://www.cocrystalpharma.com/
update 04-22-21
New peer reviews of COVID-19 preprints from the MIT Press journal RAPID REVIEWS COVID-19
THE MIT PRESS
https://www.eurekalert.org/pub_releases/2020-09/tmp-npr090420.php
===============================================================
https://www.eurekalert.org/pub_releases/2020-08/ksu-nps080320.php
[-chart]media.eurekalert.org/multimedia_prod/pub/web/239228_web.jpg[/chart]
MANHATTAN, KANSAS -- Yunjeong Kim and Kyeong-Ok "KC" Chang,
virologists in the College of Veterinary Medicine at Kansas State University,
have published a study showing a possible therapeutic
treatment for COVID-19.
Pathogenic coronaviruses are a major threat to global public health,
as shown by severe acute respiratory syndrome coronavirus, or SARS-CoV;
Middle East respiratory syndrome coronavirus, known as MERS-CoV;
and the newly emerged SARS-CoV-2, the virus that causes COVID-19 infection.
The study, "3C-like protease inhibitors block coronavirus replication
in vitro and improve survival in MERS-CoV-infected mice,"
appears in the Aug. 3 issue of the prestigious medical journal Science Translational Medicine.
It reveals how small molecule protease inhibitors show potency against human coronaviruses.
These coronavirus 3C-like proteases, known as 3CLpro, are strong therapeutic targets because they play vital roles in coronavirus replication.
"Vaccine developments and treatments are the biggest targets in
COVID-19 research, and treatment is really key,"
said Chang, professor of diagnostic medicine and pathobiology.
"This paper describes protease inhibitors targeting coronavirus 3CLpro, which is a well-known therapeutic target."
The study demonstrates that this series of optimized coronavirus
3CLpro inhibitors blocked replication of the human coronaviruses
MERS-CoV and SARS-CoV-2 in cultured cells and in a mouse model for MERS.
These findings suggest that this series of compounds should be investigated further as a potential therapeutic for human coronavirus infection.
Chang and Kim have been using National Institutes of Health grants
to develop antiviral drugs to treat MERS and human norovirus infections.
Their work extends to other human viruses such as rhinoviruses and SARS-CoV-2.
"The work that this group of collaborators has been doing on
antivirals and inhibitors for SARS and MERS at K-State for a number
of years has been vital to their ability to quickly pivot to emphasize research on SARS-CoV-2 virus and therapeutics,"
said Peter K. Dorhout, vice president for research at K-State.
Co-collaborators on the research include teams lead by Bill Groutas
at Wichita State University,
Stanley Perlman at the University of Iowa and Scott Lovell at the University of Kansas.
"Drs. Groutas,
Perlman and
Lovell brought decades of experience to our research team,"
Chang said.
"We would not have been able to come this far without important collaborations with our colleagues at other institutions."
"Getting things published right now is very important for the scientific community," Kim said. "I think we are adding valuable information to the antiviral field."
###
The new compounds in the publication are exclusively licensed and being developed by Cocrystal Pharma for COVID-19. K-State Innovations Partners handles commercial technology licensing for the university.
Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy
of news releases posted to EurekAlert! by contributing institutions
or for the use of any information through the EurekAlert system.
Cocrystal Pharma Australian Patent Office Abstract Titled 'Inhibitors of hepatitis C virus polymerase'
3:25 pm ET April 8, 2021 (Benzinga) Print
http://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2016235246#
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Cocrystal Pharma, Inc. is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of hepatitis viruses,
influenza viruses, and noroviruses.. We employ unique structure-based technologies and Nobel Prize winning expertise to create first- and best-in-class antiviral drugs.
The Company is developing CC-31244, an investigational, oral, broad-spectrum replication inhibitor called a non-nucleoside inhibitor (NNI). CC-31244 is currently being evaluated
in a Phase 2a study for the treatment of hepatitis C as part of a cocktail for ultra-short therapy of 4 to 6 weeks. Cocrystal recently entered into an exclusive worldwide license and
collaboration agreement with Merck & Co., Inc. to discover and develop certain proprietary influenza A/B antiviral agents. CC-42344, the Company’s molecule for the
treatment of influenza A, is currently being evaluated in preclinical IND-enabling studies. In addition, the Company has a pipeline of promising early discovery program
to identify and develop novel antivirals for the treatment of norovirus gastroenteritis.
Our proprietary structural biology, enzymology and medicinal chemistry expertise enable us to develop novel antiviral agents.
These technologies and our market-focused approach to drug discovery are designed to effectively create small molecule therapeutics
that are safe, effective and convenient to administer.
Our technology provides a 3-D structure of inhibitor complexes at near-atomic resolution and immediate insight to guide SAR.
This helps us identify novel binding sites and allows for a rapid turnaround of structural information through highly automated X-ray data processing and refinement.
For any given viral disease, there are different subtypes of viruses that cause the disease. For example, there are six different subtypes of virus that cause hepatitis C.
In hepatitis C, these subtypes are termed "genotypes." Each hepatitis C genotype is common in some parts of the world and rare in others.
Our technology allows us to develop drug candidates that are effective against all subtypes of a given virus. The drug candidate is called broad spectrum.
Viral resistance is a major obstacle to developing effective antiviral therapies that target viral molecules. Viruses reproduce rapidly and in enormous quantities.
During reproduction, random variations in viral molecules called mutations spontaneously develop. If such a mutation occurs in a viral molecule that is targeted
by an antiviral therapy that therapy may no longer be effective against the mutated virus. These mutated or "resistant viruses" can freely infect and multiply even
in individuals who have received treatment. In some cases, resistant virus strains may even predominate. For example, in the 2009 swine influenza pandemic,
the predominant strain was resistant to the best available therapies.
To overcome this obstacle, we identify and target critical components of viral replication enzymes that are crucial to the function of the enzyme and sensitive to change.
Any mutation in these critical enzyme components is likely to inactivate the enzyme and, in turn render the virus incapable of replicating. We test the effectiveness of
our compounds against potential viral mutations and select compounds with the highest barrier to resistance.
Patients at risk for suffering from many viral infections have few effective antiviral treatments from which to choose. Furthermore, some available treatment options have characteristics that limit their market potential. They are either priced too high, poorly tolerated, inconvenient to administer, ineffective against some viral subtypes or prone to emergence of resistance.
Our technology is based on the work of our Chief Scientist and Chairman of our Scientific Advisory Board, Dr. Roger Kornberg, and Dr. Raymond Schinazi.
Dr. Kornberg was awarded the 2006 Nobel Prize for Chemistry for his work to visualize a replication enzyme called RNA polymerase in action.
Using techniques called protein cocrystallization and X-ray crystallography, Dr. Kornberg and his colleagues generated three dimensional pictures
similar to the one on the left of RNA being transcribed by an RNA polymerase.
Dr. Schinazi is a world-class expert in discovering novel nucleoside therapeutics. He co-founded several successful antiviral companies including
Triangle Pharmaceuticals Inc., Idenix Pharmaceuticals Inc. and Pharmasset, Inc.
We are leveraging both Dr. Kornberg's and Dr. Schinazi's expertise in these methods to identify and develop new antiviral compounds.
Using these methods, our scientists are able to:
Influenza is a severe respiratory illness caused by either the influenza A or B virus that results in outbreaks of disease mainly during the winter months.
Currently approved antiviral treatments for influenza are partially effective and prone to viral resistance. Strains of flu virus that are resistant to approved treatments,
osteltamivir (Tamiflu™), zanamavir (Relenza™) and Xofluza have appeared and in some cases are predominant.
For example, the predominant strain of the 2009 swine influenza pandemic was resistant to Tamiflu™.
These drugs target one of two viral proteins, hemagglutinin or neuraminidase, neither of which is highly conserved between viral strains.
In fact, different influenza virus strains such as H1N1 and H5N1 are named by their respective differences in hemagglutinin (H) and neuraminidase (N) proteins.
The ability of the influenza virus to produce viable variants of these two proteins is the key to its ability to develop resistance.
To learn more about influenza, please visit the information page at the Center for Disease Control and Prevention (CDC).
References: https://www.cdc.gov/flu/
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