Estados financieros detallados de Cocrystal Pharma, Inc. (COCP): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 205.8%, margen operativo -30.6%, margen neto -30.1%.
Al precio actual de $1.14, COCP presenta beneficios negativos (P/E no significativo) y un ROE del -207.47%. La capitalización bursátil es de $16M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | $6.6M | $2.0M | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | $201000 | $101000 | $50000 | $4.0M | $6.0M | $8.8M | $12.4M | $15.2M | $12.5M | $5.1M |
| Beneficio Bruto | -$201000 | -$101000 | -$50000 | $2.6M | -$4.0M | -$8.8M | -$12.4M | -$15.2M | -$12.5M | -$5.1M |
| I+D | $101.7M | $5.8M | $58.6M | $4.0M | $6.0M | $8.8M | $12.4M | $15.2M | $12.5M | $5.1M |
| Generales y Administrativos | $4.1M | $2.4M | $4.4M | $4.9M | $5.6M | $5.4M | $5.7M | $6.0M | $5.3M | $4.0M |
| Gastos Operativos | $105.8M | $8.3M | $62.9M | $51.0M | $5.6M | $5.4M | $26.4M | $3.4M | $5.3M | $4.0M |
| Beneficio Operativo | -$105.8M | -$8.3M | -$62.9M | -$48.4M | -$9.6M | -$14.2M | -$38.8M | -$18.6M | -$17.9M | -$9.0M |
| EBITDA | -$105.6M | -$7.4M | -$62.5M | -$2.2M | -$9.4M | -$14.0M | -$18.0M | -$21.0M | -$17.4M | -$8.5M |
| Gastos por Intereses | 0 | 0 | 0 | $19000 | $8000 | $4000 | $2000 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$104.3M | -$7.5M | -$62.6M | -$48.2M | -$9.6M | -$14.2M | -$38.8M | -$18.0M | -$17.5M | -$8.8M |
| Impuestos | -$29.4M | -$6.9M | -$13.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$74.9M | -$613000 | -$49.0M | -$48.2M | -$9.6M | -$14.2M | -$38.8M | -$18.0M | -$17.5M | -$8.8M |
| BPA | $-38.17 | $-0.30 | $-21.01 | $-15.78 | $-2.01 | $-1.85 | $-4.77 | $-0.00 | $-1.72 | $-0.78 |
| BPA Diluido | $-38.14 | $-0.30 | $-21.01 | $-15.78 | $-2.01 | $-1.85 | $-4.77 | $-0.00 | $-1.72 | $-0.78 |
| Acciones en Circulación (Diluidas) | $2.0M | $2.0M | $2.3M | $3.1M | $4.8M | $7.7M | $8.1M | $9.7M | $10.2M | $11.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | $225000 | $105000 |
| Beneficio Bruto | -$954000 | $1.4M | $134000 | $105000 |
| Beneficio Operativo | -$2.1M | -$2.5M | -$2.4M | -$3.2M |
| EBITDA | -$1.8M | -$2.3M | -$2.2M | -$3.1M |
| Beneficio Neto | -$2.0M | -$2.4M | -$2.3M | -$3.2M |
| BPA | $-0.19 | $-0.18 | $-0.17 | $-0.23 |
| BPA Diluido | $-0.19 | $-0.18 | $-0.17 | $-0.23 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $3.6M | $748000 | $2.7M | $7.4M | $33.0M | $58.7M | $37.1M | $26.4M | $9.9M | $7.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $1.3M | $1.3M | 0 | $644000 | $556000 | 0 | $716000 | $890000 | $1.2M | $706000 |
| Inventario | 0 | $29000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $5.5M | $2.2M | $2.9M | $8.3M | $34.0M | $59.3M | $40.2M | $29.1M | $11.6M | $8.1M |
| Inmovilizado Material | $280000 | $119000 | $384000 | $1.1M | $1.1M | $931000 | $616000 | $2.1M | $1.8M | $1.5M |
| Fondo de Comercio | $65.2M | $65.2M | $65.2M | $19.1M | $19.1M | $19.1M | 0 | 0 | 0 | 0 |
| Activos Intangibles | $53.9M | $53.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $124.9M | $121.4M | $68.6M | $28.5M | $54.2M | $79.4M | $40.8M | $31.3M | $13.5M | $9.7M |
| Cuentas por Pagar | $563000 | $494000 | $616000 | $1.5M | $657000 | $578000 | $614000 | $1.2M | $1.5M | $890000 |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $2.0M | $1.4M | $1.6M | $2.3M | $1.4M | $1.5M | $1.2M | $3.3M | $2.4M | $2.2M |
| Deuda a Largo | 0 | $1.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $22.6M | $16.0M | $1.7M | $2.8M | $1.7M | $1.8M | $1.3M | $4.9M | $3.9M | $3.4M |
| Reservas | -$137.4M | -$138.0M | -$187.1M | -$235.3M | -$244.9M | -$259.1M | -$297.9M | -$315.9M | -$333.4M | -$342.2M |
| Patrimonio Neto | $102.3M | $105.4M | $66.9M | $25.7M | $52.5M | $77.5M | $39.6M | $26.4M | $9.5M | $6.3M |
| Deuda Total | 0 | $1.0M | $331000 | $817000 | $596000 | $534000 | $297000 | $1.9M | $1.8M | $1.5M |
| Deuda Neta | -$3.6M | $259000 | -$2.4M | -$6.6M | -$32.4M | -$58.2M | -$36.8M | -$24.5M | -$8.1M | -$5.5M |
| Capital Circulante | $3.4M | $770000 | $1.4M | $6.0M | $32.7M | $57.8M | $39.0M | $25.8M | $9.2M | $5.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $7.7M | $7.0M | $4.7M | $2.2M |
| Activos Totales | $10.4M | $9.7M | $7.4M | $4.6M |
| Pasivos Totales | $2.8M | $3.4M | $3.3M | $3.6M |
| Patrimonio Neto | $7.7M | $6.3M | $4.1M | $1.0M |
| Deuda Total | $1.6M | $1.5M | $1.4M | $1.3M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$74.9M | -$613000 | -$49.0M | -$48.2M | -$9.6M | -$14.2M | -$38.8M | -$18.0M | -$17.5M | -$8.8M |
| Amortizaciones | $201000 | $101000 | $50000 | $98000 | $157000 | $190000 | $388000 | -$1.4M | $126000 | $72000 |
| Compensación en Acciones | $548000 | $614000 | $562000 | $351000 | $662000 | $724000 | $855000 | $801000 | $643000 | $270000 |
| Cambio en Capital Circulante | -$2.1M | $682000 | $117000 | $443000 | -$878000 | $796000 | -$2.7M | $2.3M | $140000 | $294000 |
| Flujo de Caja Operativo | -$14.7M | -$6.9M | -$8.3M | -$1.6M | -$9.8M | -$12.7M | -$21.4M | -$14.7M | -$16.5M | -$8.2M |
| Inversiones (CapEx) | -$51000 | -$40000 | -$28000 | -$145000 | -$240000 | -$52000 | -$74000 | -$118000 | -$8000 | -$12000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$14.7M | -$6.9M | -$8.3M | -$1.7M | -$10.1M | -$12.8M | -$21.5M | -$14.8M | -$16.5M | -$8.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$1.5M | -$1.7M | -$2.3M | -$2.5M |
| Inversiones (CapEx) | -$12561 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$1.6M | -$1.7M | -$2.3M | -$2.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | $56000 | $84000 | $92000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | -69.3% | -100.0% | | | | |
| Crecimiento Beneficio Neto (anual) | | +99.2% | -7901.3% | +1.8% | +80.0% | -47.0% | -173.8% | +53.7% | +2.7% | +49.5% |
| Crecimiento BPA (anual) | | +99.2% | -6903.3% | +24.9% | +87.3% | +8.0% | -157.8% | +100.0% | -90426.3% | +54.7% |
| Cambio en Acciones (anual) | | +2.4% | +16.1% | +30.8% | +57.1% | +60.3% | +5.9% | +18.5% | +5.4% | +11.0% |
| Crecimiento FCF (anual) | | +52.8% | -19.8% | +79.5% | -489.6% | -26.8% | -68.4% | +31.3% | -11.6% | +50.3% |
| Margen Bruto | | | | 39.0% | -199.6% | | | | | |
| Margen Operativo | | | | -737.4% | -476.0% | | | | | |
| Margen EBITDA | | | | -33.6% | -468.2% | | | | | |
| Margen Neto | | | | -733.8% | -479.0% | | | | | |
| Margen FCF | | | | -26.0% | -500.0% | | | | | |
| Tasa Impositiva Efectiva | 28.2% | 91.8% | 21.7% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-7.49 | $-3.45 | $-3.56 | $-0.56 | $-2.10 | $-1.66 | $-2.64 | $-1.53 | $-1.62 | $-0.73 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $2.0M | $2.0M | $2.3M | $3.1M | $4.8M | $7.7M | $8.1M | $9.7M | $10.2M | $11.3M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -207.47% |
| Rentabilidad sobre capital invertido | -423.90% |
| Rentabilidad sobre activos | -213.77% |
| Margen bruto | 205.76% |
| Margen operativo | -3063.64% |
| Margen neto | -3011.52% |
Salud financiera
| Deuda / Patrimonio | 1.28 |
| Ratio corriente | 1.24 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -3.68 | -240.00 | -2.06 | -0.38 | -8.12 | -4.22 | -0.41 | -905.26 | -1.17 | -1.26 |
| P/VC | 2.69 | 1.37 | 1.51 | 0.71 | 1.49 | 0.77 | 0.40 | 0.63 | 2.16 | 1.75 |
| P/V | 0.00 | 0.00 | 0.00 | 2.79 | 38.87 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 39.0% | -199.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | -737.4% | -476.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | -733.8% | -479.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |