Majority of investors in offering were existing
institutional stockholders of Coya
As of September 30, 2024, the Company’s cash
and cash equivalents were approximately $31.0 million
Coya Therapeutics, Inc. (Nasdaq: COYA) (“Coya” or the
“Company”), a clinical-stage biotechnology company developing
biologics and cell therapies intended to enhance the function of
regulatory T cells (“Tregs”), announced today the closing of the
sale of an aggregate of 1,379,314 shares of its common stock in a
private placement at a price of $7.25 per share. The majority of
investors in the offering were existing institutional stockholders
of the Company.
The gross proceeds to the Company from the private placement
were $10.0 million. The Company intends to use the net proceeds for
general corporate purposes, including general and administrative
expenses, working capital and to support preclinical, clinical and
regulatory activities related to the Company’s existing and future
product candidate pipeline.
BTIG, LLC acted as lead placement agent and Allele Capital
Partners, LLC, through its executing broker-dealer, Wilmington
Capital Securities, LLC, and Chardan acted as co-placement agents
for the offering. Newbridge Securities Corporation acted as a
financial advisor to Coya on the transaction.
As of September 30, 2024, the Company had cash and cash
equivalents (unaudited) of approximately $31.0 million. This
estimate was prepared by the Company based upon internal reporting,
is preliminary and unaudited, and may be revised as a result of
management’s further review of results as of September 30,
2024.
The securities described above were offered and sold in a
private placement under Section 4(a)(2) of the Securities Act of
1933, as amended (the “Act”), and/or Regulation D promulgated
thereunder and were not registered under the Act, or applicable
state securities laws. Accordingly, the securities issued in the
private placement may not be offered or sold in the United States
except pursuant to an effective registration statement or an
applicable exemption from the registration requirements of the Act
and such applicable state securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or other jurisdiction.
About Coya Therapeutics, Inc.
Headquartered in Houston, TX, Coya Therapeutics, Inc. (Nasdaq:
COYA) is a clinical-stage biotechnology company developing
proprietary treatments focused on the biology and potential
therapeutic advantages of regulatory T cells (“Tregs”) to target
systemic inflammation and neuroinflammation. Dysfunctional Tregs
underlie numerous conditions including neurodegenerative,
metabolic, and autoimmune diseases, and this cellular dysfunction
may lead to a sustained inflammation and oxidative stress resulting
in lack of homeostasis of the immune system.
Forward Looking Statements
This release contains “forward-looking statements” made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements are typically preceded by
words such as “may,” “can,” “anticipate,” “assume,” “should,”
“indicate,” “would,” “believe,” “contemplate,” “expect,” “seek,”
“estimate,” “continue,” “plan,” “point to,” “project,” “predict,”
“could,” “intend,” “target,” “potential,” “will,” or similar words
and expressions of the future. These forward-looking statements
reflect management’s current knowledge, assumptions, judgment and
expectations regarding future performance or events. Although
management believes that the expectations reflected in such
statements are reasonable, they give no assurance that such
expectations will prove to be correct or that those goals will be
achieved, and you should be aware that actual results could differ
materially from those contained in the forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, including, but not limited to, risks associated with
market conditions and uncertainties related to the offering, and
the use of proceeds from the offering. For a further description of
the risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as
well as risks relating to the Company’s business in general, please
refer to the Company’s Form 10-K for the year ended December 31,
2023 and Forms 10-Q for the quarters ended March 31, 2024 and June
30, 2024.
All forward-looking statements are expressly qualified in their
entirety by this cautionary notice. You are cautioned not to place
undue reliance on any forward-looking statements, which speak only
as of the date of this release. We have no obligation, and
expressly disclaim any obligation, to update, revise or correct any
of the forward-looking statements, whether as a result of new
information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241023960267/en/
Investor Contact
David Snyder david@coyatherapeutics.com
CORE IR Bret Shapiro brets@coreir.com 561-479-8566
Media Contacts For Coya Therapeutics: Kati Waldenburg
media@coyatherapeutics.com 212-655-0924
Coya Therapeutics (NASDAQ:COYA)
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