ALS drug developer Coya Therapeutics files $17 million IPO proposal (Pending: COYA)

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ALS drug developer Coya Therapeutics (COYA) proposed to raise $17 million through an initial public offering.

Coya did not specify in its profile the quantity or price of the shares to be offered, but specified in one Application fee schedule attached that it’s looking for about $17 million.

The biotech company hopes to list shares on Nasdaq under the symbol COYA. Chardan and Newbridge Securities are acting as leading booksellers.

A growing company, Coya is operating at a loss. For the nine-month period ended September 30, Coya reported a net loss of $9 million and no revenue.

Based in Houston, Coya is developing cell-based therapies that enhance the function of regulatory T cells, also known as Tregs, for the treatment of autoimmune, neurodegenerative, and autoimmune diseases. metabolism. The company’s leading drug candidate, COYA 101, is in phase 2 trials to treat ALS, also known as Lou Gehrig’s disease.

Coya is the latest cell therapy developer to submit an offer. Regenerative medicine company Biostage submits the application for registration and provide $6 million by the end of October, while biotech Malaysia CytoMed filed for a $10 million IPO last Friday.

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