STOCK TITAN

Coya Therapeutics Announces Closing of $10.0 Million Private Placement

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
private placement

Coya Therapeutics (Nasdaq: COYA) has completed a $10.0 million private placement through the sale of 1,379,314 shares of common stock at $7.25 per share. The majority of investors were existing institutional stockholders. As of September 30, 2024, the company reported preliminary unaudited cash and cash equivalents of approximately $31.0 million. The proceeds will support general corporate purposes, administrative expenses, working capital, and preclinical, clinical, and regulatory activities for their product pipeline. BTIG, led the placement, with Allele Capital Partners and Chardan as co-placement agents.

Coya Therapeutics (Nasdaq: COYA) ha completato un collocamento privato di 10,0 milioni di dollari attraverso la vendita di 1.379.314 azioni ordinarie a 7,25 dollari per azione. La maggior parte degli investitori erano azionisti istituzionali esistenti. Al 30 settembre 2024, la società ha riportato liquidità e disponibilità liquide preliminari non verificate di circa 31,0 milioni di dollari. I proventi supporteranno finalità aziendali generali, spese amministrative, capitale circolante e attività precliniche, cliniche e regolatorie per il loro pipeline di prodotti. BTIG ha guidato il collocamento, con Allele Capital Partners e Chardan come co-agenti di collocamento.

Coya Therapeutics (Nasdaq: COYA) ha completado una colocación privada de 10.0 millones de dólares mediante la venta de 1,379,314 acciones comunes a 7.25 dólares por acción. La mayoría de los inversores eran accionistas institucionales existentes. Al 30 de septiembre de 2024, la empresa reportó cerca de 31.0 millones de dólares en efectivo y equivalentes de efectivo, preliminarmente no auditados. Los ingresos se destinarán a fines corporativos generales, gastos administrativos, capital de trabajo y actividades preclínicas, clínicas y regulatorias para su cartera de productos. BTIG fue el líder en la colocación, con Allele Capital Partners y Chardan como co-agentes de colocación.

Coya Therapeutics (Nasdaq: COYA)는 1천만 달러의 사모 배정을 완료하고 1,379,314주의 보통주를 주당 7.25달러에 판매했습니다. 대부분의 투자자는 기존의 기관 투자자들이었습니다. 2024년 9월 30일 기준으로 회사는 약 3천1백만 달러의 미감사 현금 및 현금성 자산을 보고했습니다. 수익금은 일반 기업 목적, 관리비, 운영 자본 및 제품 파이프라인에 대한 전임상, 임상 및 규제 활동을 지원하는 데 사용될 것입니다. BTIG가 배치를 주도하고 Allele Capital Partners 및 Chardan이 공동 배치 대행사로 참여했습니다.

Coya Therapeutics (Nasdaq: COYA) a complété une place de 10,0 millions de dollars en privé par la vente de 1 379 314 actions ordinaires à 7,25 dollars l'action. La majorité des investisseurs étaient des actionnaires institutionnels existants. Au 30 septembre 2024, la société a rapporté des liquidités et équivalents de liquidités préliminaires non auditées d'environ 31,0 millions de dollars. Les fonds serviront à des fins d'entreprise générales, aux frais administratifs, au fonds de roulement et aux activités précliniques, cliniques et réglementaires de leur pipeline de produits. BTIG a dirigé la placement, avec Allele Capital Partners et Chardan comme co-agents de placement.

Coya Therapeutics (Nasdaq: COYA) hat eine Privatplatzierung von 10,0 Millionen Dollar abgeschlossen, indem 1.379.314 Stammaktien zu einem Preis von 7,25 Dollar pro Aktie verkauft wurden. Die Mehrheit der Investoren waren bestehende institutionelle Aktionäre. Zum 30. September 2024 berichtete das Unternehmen über vorläufige, ungeprüfte Zahlungsmittel und Zahlungsmitteläquivalente von etwa 31,0 Millionen Dollar. Die Erlöse werden allgemeine Unternehmenszwecke, Verwaltungskosten, Betriebskapital sowie präklinische, klinische und regulatorische Aktivitäten für ihre Produktpipeline unterstützen. BTIG führte die Platzierung an, mit Allele Capital Partners und Chardan als Co-Platzierungsagenten.

Positive
  • Raised $10.0 million through private placement
  • Strong cash position with $31.0 million in cash and equivalents
  • Majority participation from existing institutional investors showing continued confidence
Negative
  • Potential dilution for existing shareholders due to new share issuance

Insights

The $10 million private placement to institutional investors at $7.25 per share strengthens Coya's balance sheet, bringing total cash position to approximately $31 million. The pricing represents minimal dilution compared to recent trading levels and existing institutional investors' participation signals continued confidence in the company's Treg-focused pipeline. The enhanced cash runway provides operational flexibility for advancing preclinical and clinical programs. However, as an early-stage biotech without marketed products, careful cash management remains crucial. The transaction's structure as a private placement under Section 4(a)(2) is standard for this type of financing, though new shares will have resale restrictions until registered.

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

HOUSTON--(BUSINESS WIRE)-- 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.

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

Source: Coya Therapeutics, Inc.

FAQ

How much did Coya Therapeutics (COYA) raise in their private placement?

Coya Therapeutics raised $10.0 million through the sale of 1,379,314 shares at $7.25 per share in a private placement.

What is Coya Therapeutics' (COYA) cash position as of September 30, 2024?

Coya Therapeutics reported preliminary unaudited cash and cash equivalents of approximately $31.0 million as of September 30, 2024.

What will Coya Therapeutics (COYA) use the private placement proceeds for?

The proceeds will be used for general corporate purposes, administrative expenses, working capital, and to support preclinical, clinical, and regulatory activities for their product pipeline.

What was the price per share in Coya Therapeutics' (COYA) private placement?

The private placement shares were sold at a price of $7.25 per share.

Coya Therapeutics, Inc.

NASDAQ:COYA

COYA Rankings

COYA Latest News

COYA Stock Data

102.25M
15.04M
7.03%
19.97%
1.18%
Biotechnology
Pharmaceutical Preparations
Link
United States of America
HOUSTON