On October 24, 2025, Coya Therapeutics announced it had priced an underwritten public offering of 3,636,364 shares of common stock at $5.50 per share, raising $20 million. The offering was upsized from the originally planned amount and was priced by Lucid Capital Markets.
The underwriter was granted a 30‑day option to purchase up to 545,450 additional shares at the offering price. The transaction is being conducted under a shelf registration statement on Form S‑3, and the proceeds will be used for working capital and general corporate purposes, including funding the company’s clinical development plan.
The equity raise provides Coya with additional capital to support its pipeline, particularly the development of COYA 302 and other Treg‑enhancing biologics, and extends the company’s cash runway as it advances toward Phase 2 trials. The pricing of the offering signals investor confidence in the company’s Treg platform and its potential to address unmet needs in neurodegenerative and inflammatory diseases.
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