Coya Therapeutics, Inc.

Listed Company

COYACIK 0001835022NasdaqEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$7.95M

Net Income

$-21.23M

Total Assets

$49.95M

Equity

$43.03M

Shares Out

23.46M

Op. Cash Flow

$-10.74M

Business

Coya Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing proprietary therapies that enhance the function of regulatory T cells (Tregs). It develops Treg-enhancing biologics (including COYA 301 low-dose IL-2 and COYA 302, a combination with CTLA4-Ig), Treg-derived exosomes (e.g., COYA 201 and COYA 206) and autologous Treg cell therapies. Its programs are organized into biologics (300 series), exosome (200 series) and cell therapy modalities with in‑licensing and collaboration activities. It conducts preclinical and clinical development primarily in the U.S., partners with academic and commercial collaborators, and pursues regulatory filings and licensing for broader global distribution.

Summary from filing dated 2025-03-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Collaboration revenue	8	4	6	0	—
Research and development	17	12	6	4	3
In-process research and development	2	25,000	543,186	525,000	—
General and administrative	11	9	8	5	2
Depreciation	27,361	27,361	27,361	27,361	16,133
Total operating expenses	31	21	14	10	5
Loss from operations	−23	−17	−8	−10	−5
Other income	1	2	639,365	63,673	−21,482
Pre-tax loss	−21	−16	−7	−12	—
Income tax (expense) benefit	−3,089	700,000	−723,852	0	—
Net loss	−21	−15	−8	−12	−5
Net loss per share of common stock, basic	−1.27	−0.98	−0.79	−4.73	−1.89
Net loss per share of common stock, diluted	−1.27	−0.98	−0.79	−4.73	−1.89
Weighted-average shares of common stock outstanding, basic	17	15	10	3	3
Weighted-average shares of common stock outstanding, diluted	17	15	10	3	3

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	47	38	33	6	4
Prepaids and other current assets	3	6	1	1	244,080
Total current assets	50	44	41	7	5
Fixed assets, net	11,227	38,588	65,949	93,310	120,671
Total assets	50	44	41	8	5
Accounts payable	1	2	1	2	857,567
Accrued expenses	4	1	3	2	290,816
Deferred collaboration revenue	1	848,286	923,109	—	—
Total current liabilities	6	4	5	4	1
Deferred collaboration revenue	1	945,447	574,685	—	—
Total liabilities	7	5	6	17	1
Commitments and contingencies (Note 6)	—	—	—	—	—
Series A convertible preferred stock, $0.0001 par value: 10,000,000 shares authorized, none issued and outstanding as of December 31, 2025 and 2024	—	—	—	9	9
Common stock, $0.0001 par value; 200,000,000 shares authorized; 20,934,456 and 16,707,441 shares issued and outstanding as of December 31, 2025 and 2024, respectively	2,094	1,671	1,441	259	259
Additional paid-in capital	105	80	62	681,106	473,602
Accumulated deficit	−62	−41	−26	−18	−6
Total stockholders' equity	43	40	36	−8	4
Total liabilities and stockholders' equity	50	44	41	8	5

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−21	−15	−8	−12	−5
Stock-based compensation, including the issuance of restricted stock	4	3	872,248	207,346	233,222
Collaboration receivable	—	8	−8	—	—
Prepaids and other current assets	3	−5	181,707	−920,002	−216,813
Accounts payable	−527,006	477,450	298,816	845,284	665,166
Accrued expenses	1	−1	877,913	826,556	290,816
Deferred collaboration revenue	454,247	295,939	1	—	—
Net cash used in operating activities	−11	−10	−11	−7	−4
Purchase of in-process research and development assets	−1	−25,000	−543,186	−525,000	—
Net cash used in investing activities	−1	−25,000	−543,186	−525,000	−136,804
Proceeds from sale of common stock, net of offering costs	20	14	—	—	—
Payment of financing costs related to the 2023 Private Placement	—	−131,918	—	—	—
Proceeds from subscription receivable	—	11,250	—	—	—
Proceeds from the exercise of stock options	38,274	1,975	89,947	158	317
Proceeds from the exercise of warrants	—	2	—	—	—
Net cash provided by financing activities	20	16	38	9	−340,584
Net increase in cash and cash equivalents	8	6	27	2	−4
In process research and development costs in accrued expenses	1	—	—	—	—

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