Phillip Frost Lifts Cocrystal Stake to 13.9% with $80K in Open-Market Buys
COCP sits 39% above its 52-week low of $0.76.
Summary
Phillip Frost and his affiliated trust bought 85,000 shares of Cocrystal Pharma on the open market for approximately $80,000, increasing his beneficial stake to 13.9%. The purchases follow a recent $5 million private placement and signal insider confidence amid a tight cash position.
Key Events · Ownership and Investor Activity · COCP
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Insider Open-Market Purchases
On August 3 and 5, Phillip Frost and Frost Gamma Investments Trust acquired 85,000 shares at $0.9412 and $0.9816 per share, totaling approximately $80,000.
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Increased Beneficial Ownership
Following the purchases, Frost beneficially owns 2,784,719 shares (13.9% of outstanding), including 1,993,551 shares held by the trust, 20,325 directly, plus options and warrants.
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Context of Recent Financing
The purchases follow a $5 million private placement from OPKO Health at $0.9134 per share, a premium to the market at the time, and amid a going-concern warning.
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Investment Intent
The filing states the shares were acquired for investment purposes, with no indication of plans to influence control or pursue extraordinary corporate transactions.
Analysis · COCP · Life Sciences
Phillip Frost, a major biotech investor and related party, purchased 85,000 shares of Cocrystal Pharma on the open market at an average price near $0.95, raising his beneficial ownership to 13.9%. The buys come just days after the company raised $5 million from OPKO Health at a premium, and against a backdrop of a going-concern warning and a cash runway under 12 months. Frost's willingness to add to his position with real money—not options or grants—suggests conviction in the company's antiviral pipeline despite the financial headwinds.
At the time of this filing, COCP was trading at $1.06 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $14.6M. The 52-week trading range was $0.76 to $2.67. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.