Coya Therapeutics Publishes ALS Research Findings
Coya Therapeutics announces the publication of a research study led by Dr. David Beers and Dr. Stanley Appel at the Houston Methodist Neurological Institute. The study included the longitudinal measurement of well-characterized serum biomarkers of lipid peroxidation, systemic inflammation, and axonal injury, and the functional evaluation over time of 100 randomly selected patients with ALS. The study has been published in the peer-reviewed journal Annals of Clinical and Translational Neurology. "These findings demonstrate significant correlations between biomarkers of inflammation, oxidative stress, and axonal injury and survival in patients with ALS", said Dr. Fred Grossman, President and Chief Medical Officer of Coya. "In our ongoing ALSTARS trial, we are measuring NfL as a secondary endpoint, along with inflammation markers including 4-HNE and ox-LDL as exploratory endpoints. Together, these efforts will further inform the growing body of evidence supporting the role of inflammation in neurodegenerative diseases."
Trade with 70% Backtested Accuracy
Analyst Views on COYA
About COYA
About the author

- Study Overview: Coya Therapeutics published findings indicating that regulatory T cell (Treg) function is significantly reduced in 27 patients with frontotemporal dementia (FTD), alongside a notable increase in inflammatory cytokines compared to 25 healthy controls, highlighting compromised immune modulation in FTD patients.
- Biomarker Discovery: The study revealed significantly elevated levels of pro-inflammatory cytokines such as TNFα and chemokines like CXCL10 and CCL3 (p<0.05) in FTD patients, reflecting dysregulation of inflammation-related gene expression in peripheral monocytes, which may contribute to ongoing neuroinflammation and disease progression.
- Therapeutic Potential Validation: The combination therapy of low-dose interleukin-2 (LD IL-2) and CTLA-4 Ig demonstrated the potential to enhance Treg function in FTD patients, with no cognitive decline observed over a 22-week treatment period, suggesting that this therapy may effectively improve clinical outcomes in FTD.
- Future Research Directions: Coya plans to advance clinical trials for COYA 302, aiming to suppress neuroinflammation by enhancing Treg function, further exploring its applications in ALS and other neurodegenerative diseases, which underscores the company's strategic focus and commitment to research in this area.
- Earnings Report: Coya Therapeutics reported a FY GAAP EPS of -$1.27, missing expectations by $0.07, indicating ongoing challenges in achieving profitability.
- Revenue Growth: The company achieved revenue of $7.95M, reflecting a 123.9% year-over-year increase, surpassing market expectations by $2.04M, which suggests strong product demand and improved market acceptance.
- Cash Reserves: As of December 31, 2025, Coya had cash and cash equivalents of $46.8 million, ensuring sufficient funding for future research and operational needs.
- Funding Update: Coya Therapeutics successfully raised $11.1 million in a private placement led by Dr. Reddy's, providing financial support for its ongoing development and enhancing market confidence.
- Clinical Trial Progress: Coya Therapeutics successfully launched the ALSTARS Phase 2 trial for COYA 302, actively enrolling patients across approximately 25 clinical sites in the U.S. and Canada, marking a significant advancement in ALS treatment and expected to drive future market opportunities.
- Improved Financial Performance: For FY 2025, collaboration revenue reached $7.9 million, a 124% increase from $3.6 million in 2024, primarily due to FDA acceptance of the IND application for COYA 302, indicating positive progress in the company's R&D efforts.
- Increased R&D Spending: R&D expenses for FY 2025 totaled $16.7 million, up 41% from $11.9 million in 2024, reflecting the company's clinical advancements in ALS and FTD, although this led to a net loss widening to $21.2 million.
- Enhanced Financial Position: Coya announced a successful $23 million public offering, extending its cash runway into the second half of 2027, which strengthens the company's financial flexibility for upcoming clinical trials and supports its ongoing R&D strategy.
- Funding Size: Coya Therapeutics announced the sale of approximately 2.52 million shares at $4.40 per share, raising about $11.1 million, which will provide essential capital to accelerate the commercial readiness of its COYA 302 program.
- Investor Background: In this financing round, Dr. Reddy’s Laboratories invested $10 million through a subsidiary, while the company's largest institutional shareholder, Greenlight Capital, contributed $1.1 million, reflecting strong market confidence and support for Coya.
- Use of Proceeds: Coya plans to utilize the funds raised to expedite technology transfer and scale-up manufacturing for low-dose IL-2, thereby enhancing its competitive position in the market as it prepares for the commercialization of COYA 302.
- Transaction Timeline: The private placement is expected to close on or about January 30, 2026, subject to customary conditions, which ensures future liquidity and project advancement for the company.
- Funding Amount: Coya Therapeutics has secured approximately $11.1 million through a private placement of 2,522,727 shares at $4.40 each, reflecting strong market confidence in its biologics development.
- Key Investors: The primary investors include Dr. Reddy’s Laboratories, contributing $10 million, and Greenlight Capital with $1.1 million, indicating a positive outlook from institutional investors regarding Coya's future prospects.
- Use of Proceeds: The company intends to utilize the proceeds to accelerate technology transfer and scale-up manufacturing for low-dose IL-2, supporting the commercial readiness of COYA 302, thereby enhancing its competitive position in the neurodegenerative disease market.
- Compliance Commitment: Coya has committed to filing a registration statement with the SEC within 45 days post-closing, ensuring the legal resale of the securities, which will bolster investor confidence and facilitate future capital operations.

- FDA Approval: Coya Therapeutics announced that its IND for COYA 302 to treat frontotemporal dementia has been accepted by the FDA, marking a significant advancement in the treatment of neurodegenerative diseases and aiming to address the urgent medical needs of approximately 60,000 patients.
- Clinical Need: Frontotemporal dementia is the most common form of dementia in individuals under 65, with an average onset age of 58 and a survival time of only 7.5 years, making Coya's new therapy potentially transformative in improving patient quality of life and slowing disease progression.
- Scientific Rationale: COYA 302 employs a dual immunomodulatory mechanism designed to enhance the anti-inflammatory function of regulatory T cells, which Coya believes will provide a new treatment option for frontotemporal dementia patients, filling a significant gap in the current market with no effective therapies available.
- Clinical Trial Plans: Coya expects to announce topline results from an open-label study evaluating low-dose IL-2 and CTLA4-Ig in patients with mild-to-moderate frontotemporal dementia in the coming weeks, further validating its efficacy and safety profile.







