Coya Therapeutics (NASDAQ: COYA) details Q2 2026 results, ALS Fast Track and cash runway
Rhea-AI Filing Summary
Coya Therapeutics, Inc. reported second quarter 2026 results and highlighted progress on its lead program COYA 302 for ALS and frontotemporal dementia. Enrollment in the Phase 2 ALSTARS ALS trial is proceeding as planned, with completion targeted in 2026 and topline data expected in the first quarter of 2027. The company also plans to initiate a Phase 2 study of COYA 302 in frontotemporal dementia in the second half of 2026.
Coya received FDA Fast Track Designation for COYA 302 in ALS and reported collaboration revenue of $243,745 for the quarter. Research and development expenses were $5.0 million, reflecting advancement of the COYA 302 ALS Phase 2 trial, while general and administrative expenses declined to $2.3 million. Net loss was $6.6 million. As of June 30, 2026, Coya held $43.2 million in cash and cash equivalents, which it states is sufficient to fund operations, as currently planned, past the ALSTARS topline readout and into the second half of 2027.
Positive
- FDA Fast Track Designation for COYA 302 in ALS may expedite development and review of this lead asset.
- Cash and cash equivalents of $43.2 million are expected to fund operations past Phase 2 ALSTARS topline data and into 2H 2027.
- General and administrative expenses decreased to $2.3 million from $2.9 million year over year, reflecting lower professional and compensation costs.
Negative
- Net cash used in operating activities rose to $13.6 million for the first half of 2026 from $8.6 million a year earlier, indicating higher cash burn.
Filing Explained
The filing reports 23,457,849 common shares issued and outstanding as of
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Collaboration revenue Q2 2026: $243,745
Research and development expenses Q2 2026: $5,030,667
General and administrative expenses Q2 2026: $2,255,603
+5 more
8 metrics
Collaboration revenue Q2 2026
$243,745
Three months ended June 30, 2026
Research and development expenses Q2 2026
$5,030,667
Three months ended June 30, 2026
General and administrative expenses Q2 2026
$2,255,603
Three months ended June 30, 2026
Net loss Q2 2026
$6,638,260
Three months ended June 30, 2026
Cash and cash equivalents
$43,181,002
As of June 30, 2026
Net cash used in operating activities
$13,584,446
Six months ended June 30, 2026
Common shares outstanding
23,457,849
As of June 30, 2026
Proceeds from sale of common stock
$10,953,604
Six months ended June 30, 2026, net of offering costs
Key Terms
Fast Track Designation, ALSTARS Phase 2 trial, regulatory T cells, deferred collaboration revenue, +2 more
6 terms
Fast Track Designation regulatory
"Received FDA Fast Track Designation for COYA 302 for the treatment of ALS."
Fast track designation is a status the U.S. Food and Drug Administration grants to drugs intended to treat serious conditions and address an unmet medical need. It gives the developer more frequent communication with the FDA and can allow parts of the application to be reviewed on a rolling basis, and it may pave the way to priority review or accelerated approval. It can shorten development timelines, though it does not guarantee approval.
ALSTARS Phase 2 trial medical
"the first cohort of patients has progressed into the 24-week blinded active treatment extension phase in the ALSTARS Phase 2 Trial."
regulatory T cells medical
"treatments focused on the biology and potential therapeutic advantages of regulatory T cells (“Tregs”)"
Regulatory T cells are a specialized type of immune cell that act like a brake on the body’s defense system, preventing it from attacking healthy tissue or causing chronic inflammation. They matter to investors because drugs that increase or block these cells can change treatment success and safety in areas such as autoimmune disease, organ transplants, and cancer immunotherapy, affecting clinical trial results, approval chances, and commercial value.
deferred collaboration revenue financial
"Deferred collaboration revenue | | | 1,233,452"
ATM Offering Program financial
"Payment of financing costs related to the ATM Offering Program"
An ATM offering program (short for “at-the-market” offering) lets a company sell newly issued shares directly into the public market at prevailing prices over time, rather than all at once. It matters to investors because it provides a flexible way for the company to raise cash when conditions are favorable, but it can increase the number of shares available and dilute existing ownership, which may affect the stock’s price and earnings per share. An everyday analogy is a baker adding extra loaves to a shop shelf throughout the day at whatever the current price is.
Treg-derived exosomes medical
"Coya’s therapeutic platforms include Treg-enhancing biologics, Treg-derived exosomes, and autologous Treg cell therapy."
Earnings Snapshot
Collaboration revenue: $243,745 · Guidance included
Quarter ended June 30, 2026
Collaboration revenue
$243,745
Higher than $163,616 in the prior-year quarter
Research and development expenses
$5,030,667
Increased from $3,663,103 in the prior-year quarter
General and administrative expenses
$2,255,603
Decreased from $2,908,191 in the prior-year quarter
Net loss
$6,638,260
Slightly higher than $6,094,977 in the prior-year quarter
Cash and cash equivalents
$43,181,002
Down from $46,822,786 at December 31, 2025
Guidance
The company expects existing cash to fund operations, as currently planned, past the Phase 2 ALSTARS topline data readout and into the second half of 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were Coya Therapeutics (COYA) second quarter 2026 revenues?
Coya Therapeutics reported collaboration revenue of $243,745 for the three months ended June 30, 2026, compared with $163,616 for the same period in 2025, all related to its Development and License Agreement with DRL.
How much cash does Coya Therapeutics (COYA) have and what is its runway?
As of June 30, 2026, Coya held $43.2 million in cash and cash equivalents. The company states this is sufficient to fund operations, as currently planned, past the Phase 2 ALSTARS topline data readout and into the second half of 2027.
What were Coya Therapeutics (COYA) R&D and G&A expenses in Q2 2026?
For the quarter ended June 30, 2026, research and development expenses were $5,030,667, driven mainly by the COYA 302 ALS Phase 2 trial, while general and administrative expenses declined to $2,255,603 from $2,908,191 in the prior-year quarter.
What was Coya Therapeutics (COYA) net loss and EPS for Q2 2026?
Net loss for the three months ended June 30, 2026 was $6,638,260, compared with $6,094,977 a year earlier. Basic and diluted net loss per share of common stock was $(0.28), versus $(0.36) in the prior-year period.
What key clinical milestones did Coya Therapeutics (COYA) outline?
Coya expects in 2H 2026 to complete ALSTARS Phase 2 enrollment, initiate a Phase 2 FTD study with COYA 302, release FTD biomarker data, report additional ALS and AD proteomics data, and publish in vivo data on COYA 303.
Did Coya Therapeutics (COYA) raise capital in 2026 year to date?
Yes. For the six months ended June 30, 2026, Coya received $10,953,604 in net proceeds from the sale of common stock and recorded $124,286 of financing costs related to its ATM Offering Program.