Coya Therapeutics 2025 Q3 Earnings Narrows Losses by 47.4%

Coya Therapeutics (COYA) reported fiscal 2025 Q3 earnings on Nov 12, 2025, with a focus on reduced losses and R&D advancements. The company’s collaboration revenue and strategic funding bolstered its financial position.

Coya Therapeutics narrowed its net loss by 47.4% year-over-year to $-2.12 million, driven by $3.56 million in collaboration revenue. The company also completed a $23 million public offering, extending its cash runway through 2H 2027. Guidance includes a $4.2 million milestone payment upon initiating its ALSTARS trial for ALS and advancing multiple clinical programs.

Revenue

Collaboration revenue was the sole contributor to Coya’s $3.56 million total revenue in Q3 2025, reflecting a 0.0% year-over-year increase from $0 in Q3 2024. This segment revenue underscored the company’s reliance on partnership-driven milestones, particularly tied to its ALS and neurodegenerative disease programs.

Earnings/Net Income

Coya Therapeutics narrowed losses to $0.13 per share in Q3 2025, a 50.0% improvement from $0.26 per share in Q3 2024. The company’s net loss decreased to $-2.12 million, down from $-4.02 million year-over-year, marking a significant reduction in operational burn. The significant reduction in per-share losses indicates improved financial health amid ongoing R&D investments.

Price Action

Following the earnings report, Coya’s stock edged up 0.83% during the latest trading day, climbed 5.55% over the past week, and gained 0.50% month-to-date. The upward momentum aligned with positive analyst sentiment and investor confidence in the company’s clinical progress.

CEO Commentary

CEO Arun Swaminathan highlighted the $23 million public offering as a strategic milestone, extending cash runway beyond the ALSTARS trial readout. He emphasized investor confidence and the importance of advancing COYA 302 for ALS, with optimism about executing key clinical and regulatory milestones.

Guidance

Coya outlined key upcoming milestones, including a $4.2 million payment from Dr. Reddy’s Laboratories upon ALSTARS trial dosing, COYA 303 preclinical data, and an IND submission for FTD by Q4 2025. The ALSTARS trial enrollment is set to commence shortly, aligning with the extended cash runway.

Additional News

Coya Therapeutics recently secured a $23 million public offering, extending its cash runway into 2027 and supporting its ALS and FTD programs. The FDA accepted its IND application for COYA 302 in ALS, with the ALSTARS trial now NEALS-affiliated. A $4.2 million milestone payment from Dr. Reddy’s is expected upon trial initiation. Preclinical data showed COYA 303’s CNS anti-inflammatory effects, and the company plans to submit an IND for FTD by late 2025. Upcoming catalysts include biomarker results, proteomics data, and top-line clinical updates.