COYA Stock — Coya Therapeutics Inc.: Cash, EV, Pipeline

What they do

Our core focus is developing therapies to target Treg dysfunction. Treg dysfunction has been identified as an important pathophysiological component of neurodegenerative, autoimmune, and metabolic diseases, all areas where we believe new and effective therapies are urgently needed.

Source: 10-K FY2025 via SEC EDGAR

Share price

$2.99

Market cap

$70.1M

Cash

$43.2M

Enterprise value

$26.9M

Balance sheet

Cash	$43.2M
Debt	$0.0M
Net cash	$43.2M
Enterprise value	$26.9M
Basic shares	23.5M shares
Fully diluted shares	28.2M shares
Fully diluted market cap	$84.2M
Cash per share	$1.84
Quarterly burn	$7.4M
Cash runway	5.9 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

23.5M

Pre-funded warrants

—

Options

3.9M

RSUs

—

Warrants

0.8M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

28.2M

Cap table as of 2026-06-30.

Price history

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Next catalyst

COYA 302 · Feb 12 - Mar 26 in 14 wks · Phase 2/3 · Amyotrophic Lateral Sclerosis (ALS)

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Feb 12 - Mar 26 in 14 wks	COYA 302	Phase 2/3	Amyotrophic Lateral Sclerosis (ALS)	early Q2 2027

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

COYA 302

Phase 2 · Active Modality: dual biologic

Target Tregs (IL-2 / CTLA-4)

Partnerships Dr. Reddy's Laboratories: in-licensed abatacept biosimilar (CTLA4-Ig) for COYA 302; $0.4M upfront, up to ~$2.9M pre-approval milestones (first indication) + ~$20M other development/regulatory/sales milestones, low-six-figure per additional indication, single-digit royalties; DRL licensed to commercialize COYA 302 in certain territories.

Indications

Amyotrophic lateral sclerosis (ALS) (Phase 2)
Frontotemporal dementia (FTD) (Stage not disclosed)

Status note Lead asset ('Pipeline in a Product'). ALSTARS Phase 2 RCT in ALS ongoing (NCT07161999). FTD IND approved (milestone owed to DRL). Combination of proprietary low-dose IL-2 (COYA 301) + CTLA4-Ig.

COYA 301

Stage not disclosed · Active Modality: biologic

Aliases low dose IL-2

Target Tregs (IL-2)

Partnerships n/a (licensed to Dr. Reddy's for certain territories as part of the DRL Agreement)

Indications

Neurodegenerative disorders (Stage not disclosed)

Status note Proprietary low-dose interleukin-2; backbone modality of COYA 302 and planned combination family. No standalone trial stated in excerpts.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	COYA 302
Lead indication	Amyotrophic Lateral Sclerosis (ALS)
Lead phase	Phase 3
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07161999	Phase 2/3	Recruiting	Sponsor	Coya Therapeutics	—	Amyotrophic Lateral Sclerosis (ALS)	early Q2 2027

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Coya Therapeutics on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	40,900	no change	0.01%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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COYA — Coya Therapeutics Inc. ☆