UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01. Other Events.
On March 29, 2023, the United States Court of Appeals for the Third Circuit ruled in favor of Cocrystal Pharma, Inc. (the “Company”) in its previously disclosed litigation with Liberty Insurance Underwriters Inc., thereby vacating the trial court’s prior grant of summary judgment in favor of the insurer. As a result of this ruling, the case will be remanded to the District Court for trial on the merits of the Company’s coverage claims for defense costs. The Company intends to file a motion with the District Court to seek the return of the $1.6 million which the Company paid to the District Court to stay the judgment. The Company is evaluating all options, including potential settlement with Liberty.
The foregoing description does not purport to be complete, and is qualified in its entirety by the complete text of the Third Circuit’s opinion, a copy of which is filed with this Current Report on Form 8-K as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit | Description | |
| 99.1 | Opinion of the United States Court of Appeals for the Third Circuit | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Cocrystal Pharma, Inc. | ||
| Date: April 4, 2023 | By: | /s/ James Martin |
| Name: | James Martin | |
| Title: | Chief Financial Officer and Co-Chief Executive Officer | |