Coya Therapeutics, Inc. (COYA) AI Stock Analysis

• Market Cap: $107.13M
• Dividend Yield: N/A
• Average Volume (3M): 202.69K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.25
• Revenue Growth: -58.26%
• EPS Growth: -53.20%
• Country: US
• Employees: 8
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.13
• Shares Outstanding: 20,924,456
• 10 Day Avg. Volume: 221,591
• 30 Day Avg. Volume: 202,693
• PEG Ratio: -0.24
• Price to Book (P/B): 2.21
• Price to Sales (P/S): 24.57
• P/FCF Ratio: -8.49
• Enterprise Value/Market Cap: 0.63
• Enterprise Value/Revenue: 16.86
• Enterprise Value/Gross Profit: -21.16
• Enterprise Value/Ebitda: -3.37
• 1Y Price Target: $17.00
• Price Target Upside: 232.03% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: $5.00 ▼(-2.34% Downside)

The score is held down primarily by weak financial performance—ongoing losses and especially the very large reported TTM cash burn—along with bearish technicals (below major moving averages with negative MACD). Positive clinical/corporate milestones provide some offset, but valuation support is limited due to negative earnings and no dividend.

Positive Factors

Regulatory & Clinical Progress

FDA IND acceptance materially reduces a key regulatory hurdle and enables Phase 2 development for COYA‑302. Over the next several months this structurally derisks the lead program, improves prospects for definitive efficacy data, and increases the asset's appeal to partners and milestone-driven funding sources.

Partner Milestone Payment

The $4.2M milestone tied to ALSTARS dosing provides non‑dilutive capital and external validation. Partner payments demonstrate commercial interest, share development risk, and can meaningfully extend runway while aligning incentives to advance clinical programs without immediate equity issuance.

Conservative Capital Structure

Zero reported debt and positive equity provide structural financial flexibility, limiting fixed cash outflows and easing covenants pressure. This conservative footing helps the company pursue R&D, negotiate collaborations, and access capital markets or partner funding with less immediate solvency risk than highly leveraged peers.

Negative Factors

Extremely High Cash Burn

An outsized TTM cash burn (~-$2.84B) is a material structural risk: it creates near‑constant financing needs, raises dilution probability, and can force prioritization or delay of programs. Sustaining multi‑year trials under this burn rate depends on significant partner funding or frequent capital raises.

Persistent Operating Losses

Consistent negative gross profit and sizable operating losses indicate the business is not yet generating sustainable margins. Without successful product commercialization or high‑value licensing, these losses will continue to erode equity and limit reinvestment capacity, keeping profitability a long‑term objective.

Clinical‑Stage Revenue Model

Reliance on collaboration, milestone and licensing revenue is structurally limiting: predictable product revenue won't arrive until approval/commercialization. This elongates the path to stable cash flows, concentrates value on binary trial outcomes, and increases exposure to partner execution and regulatory timelines.

Coya Therapeutics, Inc. Business Overview & Revenue Model

Company Description

Coya Therapeutics, Inc., a clinical-stage biotechnology company, develops proprietary medicinal products to modulate the function of regulatory T cells (Tregs). The company's product candidate pipeline is based on therapeutic modalities, such as Treg-enhancing biologics, Treg-derived exosomes, and autologous Treg cell therapy. It is developing COYA 101, an autologous regulatory T-cell product candidate that has completed Phase 2a clinical trial for use in the treatment of Amyotrophic Lateral Sclerosis. The company's product candidates in IND-enabling studies include COYA 301, a Treg-enhancing biologic for use in the treatment of Frontotemporal Dementia; and COYA 302, a biologic combination for subcutaneous and/or intravenous administration intended to enhance Treg function while depleting T effector function and activated macrophages for use in the treatment of neurodegenerative and autoimmune diseases. It is also developing COYA 201, an allogeneic Treg exosome product candidate that is in preclinical stage for use in the treatment of neurodegenerative, autoimmune, and metabolic diseases; and COYA 206, an antigen directed Treg-derived exosome product candidate, which is in discovery stage. The company was incorporated in 2020 and is headquartered in Houston, Texas.

How the Company Makes Money

Coya Therapeutics, Inc. generates revenue through the development and commercialization of its proprietary therapies. The company primarily earns money by advancing its drug candidates through clinical trials, seeking regulatory approval, and ultimately bringing successful treatments to market. Revenue streams may include product sales, licensing agreements, and strategic partnerships with other biotechnology and pharmaceutical companies. These partnerships often involve collaborative research and development efforts, as well as milestone and royalty payments based on the successful commercialization of joint projects. Additionally, Coya may receive funding from grants or government programs aimed at supporting innovative medical research.

Coya Therapeutics, Inc. Financial Statement Overview

Summary

Coya Therapeutics, Inc. shows strong revenue growth and a debt-free balance sheet with ample cash reserves. However, significant profitability issues due to high operating losses and negative cash flows overshadow these positives. The financial health is stable but requires strategic improvements in cost management.

Income Statement

Coya Therapeutics, Inc. has shown a massive increase in revenue in 2024, but the profitability remains a significant concern with negative EBIT and net income. The company has a gross profit margin of 100% due to revenue matching gross profit, but high operating losses lead to negative EBIT and net profit margins. The revenue growth from 2023 to 2024 is impressive but overshadowed by substantial net losses, suggesting the company struggles with profitability in scaling.

Balance Sheet

The balance sheet shows a strong equity position with no debt, resulting in a zero debt-to-equity ratio, which is favorable. The equity ratio is high, and the company has ample cash reserves relative to liabilities. However, the high net losses impact return on equity negatively. Overall, the balance sheet reflects financial stability with a robust cash position but is challenged by poor profitability metrics.

Cash Flow

Coya Therapeutics, Inc. has negative operating and free cash flows, indicating cash outflows surpass inflows from operations. There is no free cash flow growth, and both operating and free cash flows to net income ratios are negative, highlighting cash management challenges. Despite significant financing cash inflows, the cash flow situation remains strained due to continuous operational losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.99M	3.55M	6.00M	0.00	0.00	0.00
Gross Profit	-3.18M	-8.31M	500.68K	-4.41M	0.00	0.00
EBITDA	-19.94M	-17.20M	-7.33M	-9.26M	-4.85M	0.00
Net Income	-18.43M	-14.88M	-7.99M	-12.24M	-4.89M	-1.10M
Balance Sheet
Total Assets	32.04M	44.35M	41.26M	8.40M	4.79M	8.75M
Cash, Cash Equivalents and Short-Term Investments	28.13M	38.34M	32.63M	5.93M	4.34M	8.72M
Total Debt	0.00	0.00	0.00	12.97M	0.00	0.00
Total Liabilities	4.76M	4.77M	5.63M	16.79M	1.15M	447.12K
Stockholders Equity	27.28M	39.58M	35.64M	-8.39M	3.64M	8.30M
Cash Flow
Free Cash Flow	-2.84B	-10.29M	-11.19M	-7.24M	-4.04M	-391.27K
Operating Cash Flow	-2.84B	-10.29M	-11.19M	-7.24M	-3.90M	-391.27K
Investing Cash Flow	-516.00K	-25.00K	-543.19K	-525.00K	-136.80K	0.00
Financing Cash Flow	28.85M	16.03M	38.43M	9.36M	-340.58K	9.11M

Coya Therapeutics, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5.12
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COYA, the sentiment is Negative. The current price of 5.12 is below the 20-day moving average (MA) of 5.59, below the 50-day MA of 5.87, and below the 200-day MA of 5.99, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 35.74 is Neutral, neither overbought nor oversold. The STOCH value of 8.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for COYA.

Coya Therapeutics, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STTK	53 Neutral	$293.62M	-4.55	-57.84%	―	-84.46%	33.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SPRO	50 Neutral	$144.79M	-3.23	-95.29%	―	-67.38%	-1076.54%
NKTX	48 Neutral	$149.87M	-1.52	-26.69%	―	―	25.84%
ANVS	46 Neutral	$103.89M	-2.64	-246.14%	―	―	62.84%
INO	45 Neutral	$110.61M	-0.62	-328.45%	―	-10.36%	42.36%
COYA	43 Neutral	$107.13M	-4.64	-62.18%	―	-58.26%	-53.20%

Coya Therapeutics, Inc. Corporate Events

Coya Therapeutics Reports Positive Frontotemporal Dementia Study Data

On January 8, 2026, Coya Therapeutics, Inc. reported positive results from an investigator-initiated, open-label proof-of-concept study evaluating a combination of low-dose IL-2 and CTLA4-Ig in nine patients with frontotemporal dementia over six months at the Houston Methodist Neurological Institute. The regimen, consisting of subcutaneous CTLA4-Ig and a five-day course of low-dose IL-2 every four weeks for 22 weeks, showed a favorable safety profile with only mild injection-site erythema and no serious adverse events, while demonstrating significantly increased Treg suppressive function, Treg percentages, and associated biomarkers (CD25 and FOXP3) from two weeks through 22 weeks. Cognitive assessments using the Montreal Cognitive Assessment and CDR-FTLD scales showed no significant decline from baseline to week 22, suggesting potential disease stabilization in this small cohort and supporting further exploration of Coya’s Treg-targeted approach in FTD.

The most recent analyst rating on (COYA) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Coya Therapeutics, Inc. stock, see the COYA Stock Forecast page.

Coya Therapeutics Receives $4.2M Milestone Payment

On December 16, 2025, Coya Therapeutics, Inc. received a $4.2 million milestone payment under a Development and License Agreement with Dr. Reddy’s Laboratories. This payment was triggered by the dosing of the first patient in the company’s ALSTARS trial, which aims to evaluate COYA 302 for treating ALS. The milestone highlights progress in their ALS treatment efforts and reflects positively on the collaboration between Coya and Dr. Reddy’s Laboratories, marking a significant step forward in advancing its clinical operations.

The most recent analyst rating on (COYA) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Coya Therapeutics, Inc. stock, see the COYA Stock Forecast page.

Coya Therapeutics Reports Q3 2025 Financial Results

Coya Therapeutics announced its third-quarter financial results for 2025, highlighting significant corporate developments. The company received FDA acceptance for its Investigational New Drug (IND) application for COYA 302, aimed at treating Amyotrophic Lateral Sclerosis (ALS), and launched the ALSTARS Trial, a Phase 2 study for the same. Additionally, they reported promising preclinical results for COYA 303 and completed patient enrollment for a study on Frontotemporal Dementia (FTD). Financially, Coya closed a $23 million public offering, extending its cash runway into the second half of 2027. The company reported a net loss of $2.1 million for the quarter, a reduction from the previous year’s $4 million loss, with increased revenues and expenses attributed to the advancement of their clinical programs.

The most recent analyst rating on (COYA) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Coya Therapeutics, Inc. stock, see the COYA Stock Forecast page.

Coya Therapeutics Announces Public Offering of Shares

On October 23, 2025, Coya Therapeutics, Inc. announced an underwritten public offering of 4,181,818 shares of common stock, expected to close around October 27, 2025, aiming to raise approximately $23 million in gross proceeds. The company plans to use the funds for working capital and general corporate purposes, including funding its clinical development plan, while Lucid Capital Markets acts as the sole book-running manager for the offering.

The most recent analyst rating on (COYA) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Coya Therapeutics, Inc. stock, see the COYA Stock Forecast page.