Monitor for any strategic shifts under new CEO, particularly pipeline prioritization or partnership activity, but this filing alone does not warrant a trading action. The next quarterly update (10-Q) will provide the first look at operational direction.
Price Chart
Executive Summary
Cocrystal Pharma appointed James Sapirstein as CEO, replacing co-CEOs Sam Lee and James Martin, who remain as President/CSO and CFO respectively. The new CEO receives a $265,000 base salary, a 50% target bonus, and 235,000 stock options at $1.05 strike, with a second 235,000-option grant contingent on six-month performance. This is a routine executive succession with no material financial impact.
Key Facts
- James Sapirstein appointed CEO effective June 3, 2026, replacing co-CEOs Sam Lee and James Martin
- Sam Lee remains President and Chief Scientific Officer; James Martin remains CFO
- New CEO receives $265,000 annual base salary and 50% target performance bonus
- Initial inducement grant of 235,000 stock options at $1.05 strike, vesting over 4 years
- Contingent grant of additional 235,000 options at six-month anniversary, subject to performance targets
- Sapirstein previously served as CEO of Entero Therapeutics (ENTO) from Oct 2019 to Feb 2025
Financial Impact
CEO compensation package: $265,000 salary plus 235,000 options at $1.05 strike (approx. $247,000 intrinsic value at $1.05) with potential for another 235,000 options. Immaterial relative to company market cap of $14M.
Risk Factors
- New CEO lacks prior experience at Cocrystal Pharma and comes from a different therapeutic area (gastrointestinal vs antiviral)
- No change to the company's fundamental cash runway or development timeline
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-027837 |
| Exhibit: ex10-1.htm | 0001493152-26-027837 |
| Document: 0001493152-26-027837-index-headers.html | 0001493152-26-027837 |
| Document: 0001493152-26-027837-index.html | 0001493152-26-027837 |
| Document: 0001493152-26-027837.txt | 0001493152-26-027837 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 6w ago | 8-K | $1.24 | awaiting T+60 | — | $0.9700 (−21.77%) |
Aug 3, 2026 12w ago | 8-K | $0.9400 | awaiting T+60 | — | $0.9700 (+3.19%) |
Jun 9, 2026 19w ago | 8-K | $1.02 $1.16 | ▲ +13.73% | ▲ +9.91% | $0.9700 (−4.90%) |
Jun 3, 2026 20w ago | 8-K | $1.06 $1.14 | ▲ +7.55% | ▲ +5.05% | $0.9700 (−8.49%) |
May 27, 2026 21w ago | DEFA14A | $1.13 $1.15 | ▲ +1.77% | ▲ +0.03% | $0.9700 (−14.16%) |
May 26, 2026 21w ago | 8-K | $1.13 $1.15 | ▲ +1.33% | ▼ −1.40% | $0.9700 (−14.16%) |
May 15, 2026 23w ago | Press Release | $1.20 $1.08 | ▼ −10.00% | ▼ −14.52% | $0.9700 (−19.17%) |
May 4, 2026 25w ago | EFFECT | $1.31 $0.8703 | ▲ +33.56% | ▲ +35.42% | $0.9700 (+25.95%) |
Apr 2, 2026 29w ago | 8-K | $1.51 $1.05 | ▼ −30.46% | ▼ −44.62% | $0.9700 (−35.76%) |
Mar 31, 2026 29w ago | 8-K | $1.01 $1.02 | ▲ +0.99% | ▼ −11.39% | $0.9700 (−3.96%) |
US Market Status
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