Decoy Therapeutics Provides Third Quarter 2026 Business Update

Preclinical studies showed potential for weekly rather than daily dosing; approximately $2.5 million of cash is restricted grant funding.

Rhea-AI Summary

Decoy Therapeutics (DCOY) expects to file a clinical trial application for its lead pan-coronavirus candidate in the second half of 2027. The planned CTA or IND filing would support a Phase 1 trial. An optimized candidate showed potential for once-weekly dosing in preclinical studies, compared with daily dosing for earlier candidates.

Decoy plans a subsequent Phase 2a human challenge trial at hVivo and is evaluating manufacturing locations and pulmonary delivery systems. It is also exploring a pan-filovirus program and pursuing non-dilutive funding and collaborations. Cash was $8.1 million at September 30, 2026, including approximately $2.5 million in restricted Gates Foundation grant funding.

8 points · 0 major

PositiveiHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

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0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Pan-coronavirus program targets a CTA or IND filing in 2H 2027 to begin Phase 1.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Clinical development plans include a Phase 2a human challenge trial at hVivo after Phase 1.
• Minor pointOptimized candidate showed once-weekly dosing potential preclinically, versus daily dosing for earlier candidates.
• Minor pointManufacturing preparations include location evaluation and discussions with pulmonary delivery system manufacturers.
• Minor pointPipeline exploration includes a pan-filovirus program targeting Ebola, Marburg and related viruses.

3 minor points

• Minor pointFunding efforts include non-dilutive funding applications, with opportunities applied for or being pursued.
• Minor pointBusiness development efforts include seeking strategic collaborations and new drug discovery partnerships.
• Minor pointLegacy oncology asset seclidemstat is available for license or sale.

Negative

• Moderate pointCash includes approximately $2.5 million in restricted Gates Foundation grant funding, limiting unrestricted availability.

Argus 15 min delay 1 alert

+3.38% vs previous close $1.07 last price 25.7x rel. volume Open Argus

Details

Market move: DCOY +3.38% vs previous close. Pan-coronavirus business update

$1.04 – $1.08 Day Range

$2.55M Mkt Cap at Last Price

On Nov 3, the day this news came out, the latest delayed price for DCOY is 3.38% above the previous close. The latest delayed price is $1.07. Relative volume is exceptionally heavy at 25.7x what this stock usually trades by this time of day.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Expected CTA/IND filing: 2H 2027 Potential dosing frequency: Once weekly versus daily Cash on balance sheet: $8.1 million +1 more

Expected CTA/IND filing

2H 2027

Pan-coronavirus candidate; filing expected to begin a Phase 1 trial

Potential dosing frequency

Once weekly versus daily

Optimized lead candidate in preclinical studies

Cash on balance sheet

$8.1 million

At September 30, 2026

Restricted grant funding

Approximately $2.5 million

Included in cash on balance sheet; Gates Foundation funding

Historical Context

1 past event · Latest: Sep 29

1 event

1. Sep 29

   Preclinical data

   24h Move

   -7.8%

   Preclinical data showed nasal and lung drug levels above antiviral-activity concentrations for seven days.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

clinical trial application, investigational new drug, copd, contract research organization, +2 more

6 terms

clinical trial application regulatory

"file a Clinical Trial Application (CTA) or Investigational New Drug (IND) application"

An application submitted to a regulatory authority requesting formal permission to begin testing a new drug, medical device, or treatment in humans. Like asking for a building permit before construction, it summarizes safety data, plans for how the study will be run, and monitoring procedures; investors watch these filings closely because approval lets a program move from lab research to clinical testing, reducing uncertainty and creating value-driving milestones.

investigational new drug regulatory

"Clinical Trial Application (CTA) or Investigational New Drug (IND) application"

An investigational new drug is a medication that is still being tested in clinical trials to determine if it is safe and effective for treating a specific condition. For investors, it represents a potential breakthrough that could lead to a new treatment and significant financial gains if successful, but also carries risks since it has not yet been approved for widespread use.

copd medical

"patients with chronic obstructive pulmonary disease (COPD)"

Chronic obstructive pulmonary disease (COPD) is a long-term lung condition that progressively narrows airways and reduces the ability to breathe, causing persistent cough, shortness of breath and fatigue. It matters to investors because a large and growing patient population creates steady demand for drugs, medical devices and care services, influences healthcare spending and regulatory decisions, and offers clear market opportunities—similar to a leaking engine that requires ongoing fixes and replacement parts.

contract research organization technical

"hVivo, a contract research organization (CRO) based in the United Kingdom"

A contract research organization (CRO) is an outside company hired to run medical and scientific work for drug, device or biotech developers—like an experienced project manager and lab team that companies rent instead of building in-house. Investors care because CROs influence development speed, quality and cost: delays or successes in trials affect client spending, regulatory risk and ultimately revenues for both the sponsor and the CRO.

pre-exposure prophylaxis medical

"before exposure (pre-exposure prophylaxis)"

Pre-exposure prophylaxis (PrEP) is a medical treatment taken by people who are not yet infected to prevent catching a specific infectious disease; think of it like wearing a safety helmet before a potential risk. It matters to investors because approval, pricing, public health guidelines, and how many people use it drive demand, revenue potential, and competitive positioning for companies that make, sell, or insure access to these preventive products.

post-exposure prophylaxis medical

"after exposure (post-exposure prophylaxis)"

A short course of medication or treatment given immediately after someone may have been exposed to an infectious agent to stop the infection from taking hold. Like applying a firewall after a suspected hacking attempt, it’s intended to prevent a small risk from becoming a full-blown problem. For investors, post-exposure prophylaxis matters because demand can spike suddenly after exposure events, regulatory approvals and efficacy data drive sales and valuation, and timely access or shortages affect market opportunity and reputational risk for healthcare providers and drug makers.

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Lead pan-coronavirus program expected to file CTA/IND in 2H 2027
Optimized lead candidate shows potential for once-weekly dosing in preclinical studies
Cash on balance sheet of $8.1 million at September 30, 2026

CAMBRIDGE, Mass., Nov. 03, 2026 (GLOBE NEWSWIRE) -- Decoy Therapeutics, Inc. (NASDAQ: DCOY), a biotechnology company pioneering Designable Multi-Antivirals (D-MAVs) to target major respiratory and high-consequence viral threats, today provided a business update for the third quarter ended September 30, 2026. During the quarter, Decoy advanced its lead pan-coronavirus program toward the clinic and identified an optimized lead candidate with potential for once-weekly dosing.

Third Quarter 2026 Highlights

• Lead program timing: Decoy expects to file a Clinical Trial Application (CTA) or Investigational New Drug (IND) application in 2H 2027 to begin a Phase 1 trial of its pan-coronavirus candidate.
• Manufacturing planning: Decoy is evaluating manufacturing locations and is in discussions with manufacturers of pulmonary delivery systems to support clinical development of its pan-coronavirus candidate.
• Once-weekly dosing potential: In preclinical studies, the optimized lead candidate showed potential for once-weekly dosing, compared to daily dosing for earlier candidates.
• Pan-filovirus program: Decoy is exploring a program targeting Ebola, Marburg and related viruses.
• Non-dilutive funding: The Company has met with U.S. government and military agencies and has applied, or is applying, for several non-dilutive funding opportunities and strategic collaborations.
• Cash on hand: $8.1 million on the balance sheet at September 30, 2026.

"We are making excellent progress toward the clinic with our pan-coronavirus program, and our AI-enabled IMP³ACT™ platform continues to rapidly produce potential drug candidates against some of the world's deadliest viruses," said Rick Pierce, Chief Executive Officer of Decoy Therapeutics. "We are focused on advancing these programs efficiently, including leveraging non-dilutive funding from top-tier collaborators."

Pan-Coronavirus Program

Decoy's lead program is designed to protect people at high risk from respiratory coronaviruses, including patients with chronic obstructive pulmonary disease (COPD), immunocompromised patients and transplant recipients. There are no approved therapies for endemic human coronaviruses. The program is partially funded by the Gates Foundation, and the Company plans to follow Phase 1 with a Phase 2a human challenge trial at hVivo, a contract research organization (CRO) based in the United Kingdom.

Less frequent dosing could improve adherence in high-risk patients and lower the Company's cost of goods. D-MAVs are designed for use both before exposure (pre-exposure prophylaxis) and after exposure (post-exposure prophylaxis).

Pipeline and Funding

Decoy's pan-filovirus program targets Ebola, Marburg and related viruses, and the Company is pursuing non-dilutive funding to support preclinical and clinical work across its programs. Decoy is also seeking strategic collaborations for its existing programs and new drug discovery partnerships, and seclidemstat, an investigational LSD1 inhibitor from the Company's legacy oncology portfolio, is available for license or sale.

Financial Update

• Cash on balance sheet was $8.1 million at September 30, 2026, including approximately $2.5 million in restricted Gates Foundation grant funding.
• As of September 30, 2026, Decoy had 2,385,282 shares of common stock outstanding.

About Decoy Therapeutics

Decoy Therapeutics is a biotechnology company pioneering Designable Multi-Antivirals (D-MAVs), a new category of antivirals engineered to target shared viral mechanisms, enabling a single, adaptable drug to work across many viruses. Built on the proprietary IMP³ACT platform, which combines AI-enabled design and rapid synthesis, Decoy develops peptide antivirals designed to move faster toward the clinic and expand what is possible in viral prevention and treatment. The Company's lead candidates target many respiratory viruses, addressing the health and societal burden of viral disease.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Decoy, including expected achievement of milestones for its lead asset and future prospects of Decoy. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Decoy, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “can,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the risk that the Company will not obtain sufficient financing to execute on their business plans and risks related to Decoy’s products and development plans, including unanticipated issues with any IND application process and the potential of the IMP³ACT platform. Readers are urged to carefully review and consider the various disclosures made by the Company in its reports filed with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as revised or supplemented by its Quarterly Reports on Form 10-Q and other documents filed with the SEC. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, Decoy’s actual results may vary materially from those expected or projected.

Media Contact

Tara Mulloy
TMC Studio
tara@tmc-studio.com
978-855-5219

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When does Decoy Therapeutics expect to file for its pan-coronavirus clinical trial?

Decoy expects to file a CTA or IND in 2H 2027 to begin a Phase 1 trial of its pan-coronavirus candidate. It plans to follow Phase 1 with a Phase 2a human challenge trial at hVivo in the United Kingdom.

How much cash did Decoy Therapeutics have at September 30, 2026?

Decoy had $8.1 million in cash at September 30, 2026, including approximately $2.5 million in restricted Gates Foundation grant funding.