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Coya Therapeutics Inc. (COYA-6.42%) has submitted its annual report filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing a net loss of $14.9 million for the year, compared to a net loss of $8.0 million in the previous year. The increase in net loss is attributed to higher research and development expenses.
Research and development expenses rose to $11.9 million from $5.5 million, reflecting increased preclinical expenses and costs associated with advancing COYA 302, a Treg-enhancing biologic, toward clinical trials.
General and administrative expenses increased to $8.9 million from $7.8 million, driven by higher payroll and employee-related benefits, franchise taxes, and investor relations costs.
Collaboration revenue, primarily from a development agreement with Dr. Reddy's Laboratories, was $3.6 million, down from $6.0 million in the prior year.
Cash and cash equivalents as of December 31, 2024, were $38.3 million, up from $32.6 million at the end of 2023, due to proceeds from private placements and warrant exercises.
The company anticipates continued significant expenses and operating losses as it advances its product candidates through development and clinical trials.
Coya Therapeutics plans to finance its operations through equity offerings, debt financings, and collaborations, with no assurances of obtaining adequate financing as needed.
The filing also details various agreements, including a license and supply agreement with Dr. Reddy's Laboratories and a sponsored research agreement with Houston Methodist Research Institute.
Coya Therapeutics focuses on developing therapies to enhance the function of regulatory T cells, targeting neurodegenerative, autoimmune, and metabolic diseases.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Coya Therapeutics Inc. annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.