Cocrystal Pharma, Inc. (COCP) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 15, 2026

Risk Assessment Details

Potential Dilution: 454.63% of current shares
Recent Dilution: 35.5% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
14M
Potential Supply
63M
Additional shares possible
Splits
None
Past 2 years

Summary

COCP currently has 13.8M outstanding shares. with significant dilution risk as 62.7M authorized shares could dilute existing holders by 454.6%. The company has significantly diluted shareholders by 35.5% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 15, 2026

10-Q filing | 13.8M shares outstanding

14M 63M
Apr 23, 2026

S-3 filing: This S-3 filing by Cocrystal Pharma, Inc. details a shelf registration for the issuance and sale of common stock, preferred stock, warrants, and units, with a total offering price of $150,000,000.

14M 63M
Mar 31, 2026

10-K filing | 13.8M shares outstanding

14M 63M
Nov 14, 2025

10-Q filing | 13.8M shares outstanding

14M 63M
Oct 30, 2025

8-K filing: Cocrystal Pharma, Inc. sold 739,426 units, each consisting of one share of common stock and one warrant, to four accredited investors at $1.39 per unit, resulting in gross proceeds of $1.03 million. ($1.03M proceeds)

10M 66M
Sep 19, 2025

S-1 filing: This prospectus relates to the resale of up to 5,736,773 shares of our common stock issuable upon exercise of outstanding warrants.

10M 66M
Sep 15, 2025

8-K filing: Cocrystal Pharma, Inc. closed a registered direct offering and concurrent private placement on September 15, 2025, issuing 2,764,710 shares of common stock at $1.70 per share, raising gross proceeds of approximately $4.75 million. ($4.75M proceeds)

10M 61M
Aug 14, 2025

10-Q filing | 10.2M shares outstanding

10M 61M
May 15, 2025

10-Q filing | 10.2M shares outstanding

10M 61M
Mar 31, 2025

10-K filing | 10.2M shares outstanding

10M 61M
Nov 13, 2024

10-Q filing | 10.2M shares outstanding

10M 61M
Aug 14, 2024

10-Q filing | 10.2M shares outstanding

10M 61M
May 13, 2024

10-Q filing | 10.2M shares outstanding

10M 61M
Mar 28, 2024

10-K filing | 9.7M shares outstanding

9.7M 61M
Nov 13, 2023

10-Q filing | 10.2M shares outstanding

10M 61M
Aug 14, 2023

10-Q filing | 10.1M shares outstanding

10M 61M
Jun 15, 2023

8-K filing: Cocrystal Pharma, Inc. filed a prospectus supplement for the offering of up to $7,250,000 shares of common stock pursuant to the At-The-Market Offering Agreement with H.C. Wainwright & Co., LLC.

10M 61M
May 24, 2023

S-3/A filing: Cocrystal Pharma, Inc. intends to offer and sell securities, including common stock and preferred stock, with a total offering price not exceeding $150,000,000, as described in the prospectus.

10M 61M
May 15, 2023

10-Q filing | 10.2M shares outstanding

10M 61M
May 12, 2023

S-3 filing: Cocrystal Pharma intends to offer and sell common stock and preferred stock, with a total offering price not exceeding $150,000,000.

7.7M 63M
Apr 10, 2023

8-K filing: Cocrystal Pharma, Inc. sold 2,030,458 shares of common stock at $1.97 per share to two accredited investors, Fred Hassan and Frost Gamma Investments Trust, for a total purchase price of $4,000,000. ($4.0M proceeds)

8.1M 8.2M
Mar 29, 2023

10-K filing | 8.1M shares outstanding

8.1M 8.2M
Nov 14, 2022

10-Q filing | 8.1M shares outstanding

8.1M 8.2M
Oct 11, 2022
Stock Split

8-K filing: Stock split one-for-12 | Outstanding: 97,469,000 → 8,122,416

8.1M 8.3M
Aug 15, 2022

10-Q filing | 97.5M shares outstanding

97M 99M
May 11, 2022

10-Q filing | 97.5M shares outstanding

97M 99M
Mar 23, 2022

10-K filing | 97.5M shares outstanding

97M 99M
Nov 15, 2021

10-Q filing | 97.5M shares outstanding

97M 99M
Aug 16, 2021

10-Q filing | 97.5M shares outstanding

97M 99M
May 17, 2021

10-Q filing | 71.2M shares outstanding

71M 130M
May 05, 2021

8-K filing: Cocrystal Pharma, Inc. entered into an Underwriting Agreement with H.C. Wainwright & Co., LLC, to issue and sell 26,000,000 shares of common stock at a public offering price of $1.54 per share, with expected net proceeds of approximately $36.4 million. ($40.04M proceeds)

35M 160M
Mar 17, 2021

10-K filing | 35.2M shares outstanding

35M 160M
Nov 13, 2020

10-Q filing | 35.2M shares outstanding

35M 160M
Aug 27, 2020

8-K filing: Cocrystal Pharma, Inc. entered into an Underwriting Agreement with H.C. Wainwright & Co., LLC to issue and sell 14,285,715 shares of common stock at $1.05 per share, with an option for the underwriter to purchase an additional 2,142,857 shares. ($15.0M proceeds)

35M 160M
Aug 06, 2020

10-Q filing | 35.2M shares outstanding

35M 160M
May 13, 2020

10-Q filing | 35.2M shares outstanding

35M 160M
May 04, 2020

S-3/A filing: Cocrystal Pharma, Inc. intends to offer and sell common stock and preferred stock, with the total offering price not to exceed $150,000,000.

37M 160M
Apr 17, 2020

S-3 filing: Cocrystal Pharma, Inc. intends to offer and sell common stock and preferred stock with a total offering price not exceeding $150,000,000.

37M 0
Mar 27, 2020

10-K filing | 29.9M shares outstanding

30M 0
Mar 13, 2020

8-K filing: Cocrystal Pharma, Inc. entered into a securities purchase agreement for a registered direct offering of 5,037,038 shares of common stock at $1.35 per share, resulting in gross proceeds of approximately $6.8 million, and also settled a lawsuit with Aegis Capital Corporation. ($6.8M proceeds)

N/A 0
Mar 04, 2020

8-K filing: Cocrystal Pharma, Inc. sold 8,461,540 shares of common stock at $1.30 per share in a registered direct offering, resulting in gross proceeds of approximately $11.0 million. ($11.0M proceeds)

N/A 0
Jan 31, 2020

8-K filing: Cocrystal Pharma, Inc. entered into a Placement Agency Agreement with A.G.P./Alliance Global Partners for a registered offering of 3,492,063 shares of common stock at $0.63 per share, expecting to receive approximately $2.0 million in net proceeds. ($2.2M proceeds)

N/A 0
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