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 April 24, 2023, covering events occurring on April 20, 2023. 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
This filing does not contain periodic financial statements, revenue, profit, cash flow, or margin data. The only financial transaction disclosed is a private placement of securities:
- Transaction Date: April 4, 2023
- Investors: Fred Hassan and Phillip Frost (existing director)
- Shares Issued: 1,015,229 shares of common stock to each investor
- Total Proceeds per Investor: $2,000,000
Material Changes
The primary material change reported is the appointment of Fred Hassan as a director on April 20, 2023. This appointment increased the total number of directors on the Board to six. The filing explicitly states there were no arrangements or understandings between Mr. Hassan and other persons regarding his appointment, and no reportable related party transactions exist under Item 404(a) of Regulation S-K.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding future guidance, outlook, risks, contingencies, or unusual items. It serves solely to disclose the director appointment and the associated securities purchase agreement.
Investor Verification Checklist
- Verify the total number of outstanding shares post-issuance to assess dilution impact.
- Confirm the current composition of the Board of Directors following the appointment of Fred Hassan.
- Review the full text of the Securities Purchase Agreement (if available in other filings) for specific terms beyond the purchase price.
- Check subsequent filings for any financial impact of the $4,000,000 raised from the two investors.