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Coya Therapeutics

COYA Rare disease Lead: Phase 2 1 Biotech Distilled article ↓ 20 filings & releases ↓ Cash $43.2M (Jun 30, 2026) ↓ 1 verdict ↓
Neurology CellProtein

Market cap $70.1M 23.5M shares (10-Q, Aug 7, 2026) × $2.99 close Nov 6, 2026

Most recent annual filing: 2026-03-16

Catalyst timeline

12 trackedQuarter catalyst calendar →
  1. MediciNova ibudilast ALS topline2026MediciNova ibudilast ALS topline, 2026, material
  2. COYA pipeline biomarkers readout2H 2026COYA pipeline biomarkers readout, 2H 2026, notable
  3. COYA 302 FTD Ph2 start2H 2026COYA 302 FTD Ph2 start, 2H 2026, routine
  4. DRL_AB FDA approvalLate 2026DRL_AB FDA approval, Late 2026, material
  5. Clene CNM-Au8 NDA filing4Q 2026Clene CNM-Au8 NDA filing, 4Q 2026, notable
  6. COYA 302 ALS corporate updateNov 2026COYA 302 ALS corporate update, Nov 2026, notable
  7. COYA corporate manufacturing updateNov 2026COYA corporate manufacturing update, Nov 2026, routine
  8. COYA 302 ALS corporate update~Mar 2027COYA 302 ALS corporate update, ~Mar 2027, notable
  9. COYA 302 ALS toplineearly 2Q 2027COYA 302 ALS topline, early 2Q 2027, thesis-defining
  10. RAPA-501 Ph2/3 readoutJul 2027RAPA-501 Ph2/3 readout, Jul 2027, notable
  11. COYA corporate financing2H 2027COYA corporate financing, 2H 2027, routine
  12. COYA 302 ALS corporate update~Sep 2027COYA 302 ALS corporate update, ~Sep 2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (6 active programs)

Technology platforms

Treg-derived exosomes

Treg-derived exosome platform leveraging exosomes from regulatory T cells; focus areas include neurodegenerative, autoimmune, and metabolic diseases

Targets: Treg

Discontinued (1)

Capital (as filed)

Cash
$43.2M cash and cash equivalents · Jun 30, 2026 (10-Q)
Operating cash flow
−$7.4M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$43.2M cash, runway into the second half of 2027 per the deep dive of Oct 14, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (1)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (1 call)

Every verdict Biotech Distilled has published on Coya Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-10-15 Avoid Coya Therapeutics (COYA) - Scientific Deep Dive for COYA 302 (Low-Dose IL-2 + CTLA-4 Ig) and Pipeline Products COYA 302 attaches real Treg pharmacology to a four-patient signal carried by one outlier, a trial underpowered for Radicava-sized effects, and a royalty/moat structure that leaves Coya little upside even if it works — at ~$98M the binary is priced about fairly, so there is no edge.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Filings & releases (20)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Oct 14, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

6 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)