Form 4: Cocrystal Pharma Director Plans Future Stock Purchases

Phillip Frost MD, a Director and 10% owner of Cocrystal Pharma, Inc., has filed a Form 4 detailing planned future purchases of common stock totaling 65,000 shares.

Summary

• Phillip Frost MD ET AL, a Director and 10% owner of Cocrystal Pharma, Inc. (COCP), reported planned acquisitions of common stock.
• The transactions are scheduled to occur on 12/24/2025 and 12/26/2025, pursuant to a Rule 10b5-1(c) plan.
• On 12/24/2025, 25,000 shares of common stock are planned to be acquired at a weighted average price of $0.9703 per share.
• On 12/26/2025, an additional 40,000 shares of common stock are planned to be acquired at a weighted average price of $0.9736 per share.
• Following these planned transactions, the reporting person's indirect beneficial ownership through Frost Gamma Investments Trust will increase to 1,768,551 shares.
• The reporting person also directly holds 27,100 shares, including restricted stock units.
• Dr. Frost disclaims beneficial ownership of securities held by Frost Gamma Investments Trust and OPKO Health, Inc. except to the extent of any pecuniary interest.

Sentiment

Score: 7

Explanation: The planned insider purchases by a significant director and 10% owner indicate confidence in the company's future, which is a strong positive signal. The pre-planned nature (10b5-1 plan) slightly tempers the immediate reactive sentiment but still reflects a deliberate long-term positive view.

Positives

• A Director and 10% owner, Phillip Frost MD, plans to increase his stake in Cocrystal Pharma, Inc. by purchasing 65,000 shares.
• Insider buying, even if pre-planned, can signal management's confidence in the company's future prospects.
• The planned purchases are at prices around $0.97 per share, indicating a belief in value at or above this level.

Negatives

• The purchases are pre-planned under a Rule 10b5-1(c) plan, which means they are not a direct reaction to recent market events or news.

Future Outlook

The filing indicates a pre-planned increase in insider ownership, suggesting a long-term positive outlook from a significant shareholder and director, rather than a reaction to immediate future events.

Management Comments

• The reporting person undertakes to provide to Cocrystal Pharma, Inc., any security holder of Cocrystal Pharma, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the shares sold at each separate price within the ranges set forth in the preceding sentence.
• The Reporting Person disclaims beneficial ownership of the securities held by Frost Gamma Investments Trust except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
• Dr. Frost disclaims beneficial ownership of the securities held by OPKO Health, Inc. except to the extent of any pecuniary interest therein and this report shall not be deemed an admission that Dr. Frost is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

Industry Context

Insider buying, even if pre-scheduled, is generally viewed positively by the market as it signals confidence from those with intimate knowledge of the company. For a biotechnology company like Cocrystal Pharma, which often has long development cycles and significant R&D expenses, such a signal from a major shareholder and director can be particularly reassuring to investors regarding the company's long-term prospects and strategic direction.

Comparison to Industry Standards

• This Form 4 reports specific insider transactions and does not contain information suitable for a direct comparison to industry-wide financial performance benchmarks or specific competitor results.
• However, insider buying activity, especially from a significant owner and director like Dr. Frost, is a common indicator of internal confidence across various industries, including pharmaceuticals and biotechnology.
• While the specific volume of shares (65,000) is modest in the context of the company's total outstanding shares, the consistent accumulation by a key insider is a positive qualitative signal.

Related Party Transactions

• The planned stock acquisitions are made indirectly through Frost Gamma Investments Trust, where Phillip Frost M.D. is the trustee, and Frost Gamma L.P. is the sole beneficiary.
• Dr. Frost is one of two limited partners of Frost Gamma L.P., and is the sole stockholder of Frost-Nevada Corporation, which is the sole stockholder of Frost Gamma, Inc., the general partner of Frost Gamma L.P.
• The filing also notes that it does not include securities owned directly by OPKO Health, Inc., a company where Dr. Frost is Chairman and CEO, and he disclaims beneficial ownership of those securities except for pecuniary interest.

Stakeholder Impact

• Shareholders may view the planned insider purchases as a positive indicator of management's belief in the company's value and future prospects, potentially increasing investor confidence.
• The increased stake by a significant director and owner could align management's interests more closely with those of other shareholders.

Next Steps

• The planned acquisitions of common stock are scheduled for 12/24/2025 and 12/26/2025.
• The reporting person undertakes to provide full information regarding the shares sold at each separate price within the reported ranges upon request.

Key Dates

Recommendation

The planned insider purchases by Phillip Frost MD, a Director and 10% owner, signal strong confidence in Cocrystal Pharma's future. While these are pre-scheduled under a 10b5-1 plan, the deliberate decision to increase ownership at current price levels suggests a belief in the company's long-term value. This insider buying activity, especially from a significant stakeholder, is a positive qualitative indicator for investors, suggesting potential upside.

Keywords

Cocrystal Pharma, COCP, Phillip Frost, Insider Buying, Form 4, Stock Purchase, Director, 10% Owner, Rule 10b5-1, Biotechnology, Pharmaceuticals