Cocrystal Pharma, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Cocrystal Pharma, Inc. on May 15, 2019, covering an event that occurred on May 9, 2019. The Company is a Delaware corporation with its principal executive offices in Bothell, WA, and its common stock trades on The Nasdaq Capital Market under the symbol "COCP".
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on executive compensation adjustments.
Material Changes
The primary material change reported is an adjustment to the compensation of a senior officer:
- Officer: Sam Lee, President of the Company.
- Action: The Compensation Committee approved an increase in annual base salary.
- Details: Salary increased from $200,000 to $260,000.
- Effective Date: May 3, 2019.
- Other Terms: No other changes were made to Dr. Lee's compensatory arrangements.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on future performance, risks, contingencies, or unusual items beyond the salary adjustment.
Key Facts for Investor Verification
- Verify the effective date of the salary increase (May 3, 2019) against payroll records.
- Confirm the total annual compensation impact of the $60,000 base salary increase.
- Review the Company's cash burn rate to assess the impact of increased executive compensation on liquidity.
- Check for any concurrent equity-based compensation grants not detailed in this specific 8-K item.