a Therapeutics(COYA) - 2025 Q1 - Quarterly Results

Financial Performance - As of March 31, 2025, Coya Therapeutics had cash and cash equivalents of $35.5 million, down from $38.3 million at the end of 2024[6][21]. - The net loss for Q1 2025 was $7.3 million, compared to a net loss of $5.1 million for Q1 2024, representing a 43% increase in losses year-over-year[9][23]. - Net loss for the period was $7,306,757, compared to a loss of $5,051,913 in the previous period[27]. - Net cash used in operating activities was $(2,828,275), a decrease from $2,145,874 in the prior period[27]. Expenses - Research and development (R&D) expenses increased to $5.2 million for Q1 2025, compared to $3.1 million for Q1 2024, primarily due to a $1.5 million rise in preclinical expenses related to COYA 302[7]. - General and administrative expenses were $2.7 million for Q1 2025, up from $2.4 million in Q1 2024, reflecting a $0.4 million increase in stock-based compensation[8]. - Stock-based compensation increased significantly to $1,080,082 from $435,663[27]. - Accrued expenses showed a significant change, increasing by $421,523 compared to a decrease of $844,745 in the previous period[27]. Revenue - Collaboration revenue for Q1 2025 was $257,884, compared to $126,838 in Q1 2024, indicating a 103% increase[23]. - Deferred collaboration revenue increased by $257,884 compared to a decrease of $126,838 in the prior period[27]. Assets and Liabilities - Coya's total liabilities as of March 31, 2025, were $5.0 million, compared to $4.8 million at the end of 2024[21]. - Collaboration receivable decreased by $7,500,000[27]. - Accounts payable decreased to $101,879 from $477,265[27]. Clinical Development - Coya anticipates submitting an IND for the COYA 302 Phase 2 trial in ALS during Q2 2025, with potential milestone payments of $8.4 million from Dr. Reddy's Laboratories upon IND acceptance[4][5]. - The company reported significant improvements in inflammatory blood markers from a 21-week Phase 2 study of low-dose IL-2 in Alzheimer's disease patients[4]. - Coya's investigational product candidate pipeline includes COYA 303 and COYA 301, aimed at treating inflammatory diseases, with new intellectual property filings for the combination[4]. - The company plans to submit an IND for Frontotemporal Dementia (FTD) by the end of 2025, followed by a controlled Phase 2 clinical trial[5].