Cocrystal, Nuvation, Nautilus Report Q1 2026 Results and Pipeline Advances

Three biopharmaceutical companies — Cocrystal Pharma, Nuvation Bio, and Nautilus Biotechnology — reported first-quarter 2026 financial results and provided business updates, highlighting advances in antiviral development, oncology, and proteomics.

Cocrystal Pharma completed enrollment in the first cohort of its Phase 1b challenge study evaluating CDI-988 as a preventive and as a treatment for norovirus infection, and began enrollment in prevention and treatment cohorts. The ongoing Phase 1b randomized, double-blind, placebo-controlled challenge study (NCT07198139) is being conducted at Emory University School of Medicine in collaboration with the University of North Carolina. The study is designed to enroll up to 40 healthy adults, aged 18 to 49, in staged cohorts. The stage 1 infectivity cohort, now fully enrolled, will be followed by prevention and treatment cohorts in which CDI-988 is administered at 1,200 mg twice daily for five days. The primary efficacy endpoint is reduction in the incidence of clinical symptoms, with secondary endpoints including reduction in viral shedding, disease severity, safety and pharmacokinetics. The FDA granted Fast Track designation for CDI-988, enabling the potential for an accelerated development pathway. The company received the initial payment under its SBIR Phase I award, bringing in non-dilutive funding to advance its influenza A and B program toward clinical development. CDI-988 targets the highly conserved region of the 3CL protease and is designed as a potential therapeutic for noroviruses and coronaviruses. In April 2025, CDI-988 showed superior broad-spectrum antiviral activity against the norovirus GII.17 strain, the most prevalent strain in the U.S. and Europe in 2024-2025. In August 2025, favorable Phase 1 safety and tolerability data from all CDI-988 doses, including a high-dose 1,200 mg cohort, were presented at the 2025 Military Health System Research Symposium. In September 2025, CDI-988’s scientific foundation and clinical progress were discussed in an oral presentation at the 9th International Calicivirus Conference, and the company received a Study May Proceed Letter from the FDA.

Nuvation Bio reported $18.5 million in net product revenues for IBTROZI (taletrectinib) in the first quarter of 2026. More than half of the approximately 200 new patients who started treatment with IBTROZI in the first quarter were TKI-naïve. Since launch in late June 2025, over 600 patients have started IBTROZI. Updated pooled results from the TRUST-I and TRUST-II studies presented at AACR 2026 showed that in TKI-naïve patients (n=157), IBTROZI demonstrated a confirmed overall response rate (cORR) of 89.8%, a median duration of response (mDOR) of 49.7 months, a median progression-free survival (mPFS) of 46.1 months, and an intracranial response rate of 76.5% in patients with brain metastases (n=17); median overall survival was not yet reached. In TKI-pretreated patients (n=113), the cORR was 55.8%, mDOR was 16.6 months, mPFS was 9.7 months, intracranial response rate was 65.6% (n=32), and median OS was 29.8 months. A pooled safety analysis demonstrated a favorable and generally manageable safety profile, consistent with its prescribing information, with no new safety signals identified with longer follow-up. In April 2026, taletrectinib was added to the NCCN Guidelines for Central Nervous System cancers as a systemic therapy option. Nuvation announced the acquisition of Japan rights to safusidenib from Daiichi Sankyo, enabling global development and commercialization of the investigational medicine. The company is advancing the pivotal Phase 3 SIGMA study for patients with high-risk IDH1-mutant glioma. As of March 31, 2026, Nuvation Bio had cash, cash equivalents, and marketable securities of $533.7 million.

Nautilus Biotechnology reported first-quarter 2026 results and highlighted progress toward its planned commercialization timeline. Management emphasized expanding early customer engagement, advancing its assay portfolio, and maintaining a cash runway through 2027. The company plans to open the Voyager Platform for pre-orders in late 2026, with customer installations beginning in early 2027 and general availability of broad-scale capabilities in the first half of 2027. During the quarter, Nautilus hired a vice president of global sales and added two additional sales team members. The company’s first named Early Access Program customer is Baylor College of Medicine. The chief scientist said collaborations with the Allen Institute and the Neural Stem Cell Institute, among others, are ongoing, and that the company is increasingly applying the platform to generate biological insights not accessible to existing proteomics technologies. The service lab capability was formalized to process customer samples, and the Tau assay passed verification, meeting requirements for accuracy, dynamic range, reproducibility, and stability. On the alpha-synuclein program, early assay development progressed using commercially available affinity reagents under a Michael J. Fox Foundation-funded collaboration with Weill Cornell Medicine-Qatar; custom reagent development from collaborators was delayed due to the ongoing conflict in the Middle East, but the program remains on track scientifically. The company narrowed its oncology proteoform target down-selection to a prioritized set of candidates including EGFR, AKT1, and P53, and remains on track to have one oncology-focused proteoform assay enter early access in the second half of 2026.