Coya Therapeutics Q2 2026: $43.2M Cash, ALSTARS Enrollment on Track, Topline Data Expected Q1 2027
COYA sits 25% above its 52-week low of $3.71.
Summary
Coya Therapeutics reported Q2 2026 results with $43.2M in cash, sufficient to fund operations past the ALSTARS Phase 2 ALS topline data readout expected in Q1 2027. Enrollment is on track to complete in the second half of 2026, and a Phase 2 FTD study is planned for the coming months.
Key Events · Earnings and Guidance · COYA
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Q2 2026 Financial Results
Cash and cash equivalents stood at $43.2 million as of June 30, 2026, down from $46.8 million at year-end 2025. The net loss widened to $6.6 million ($0.28 per share) from $6.1 million ($0.36 per share) in Q2 2025. R&D expenses rose to $5.0 million from $3.7 million, driven by the ALSTARS trial.
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Cash Runway Past Key Catalyst
Management states the $43.2 million cash balance is sufficient to fund operations past the ALSTARS Phase 2 ALS topline data readout and into the second half of 2027, reducing near-term financing risk.
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ALSTARS Trial Progress
Enrollment in the Phase 2 ALS trial is on track to complete in the second half of 2026, with topline data expected in Q1 2027. The first cohort has progressed into the 24-week blinded active treatment extension phase.
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Pipeline Expansion
Coya plans to initiate a Phase 2 study of COYA 302 in frontotemporal dementia (FTD) in the coming months, and expects biomarker data from a completed investigator-initiated FTD study in the second half of 2026.
Analysis · COYA · Life Sciences
Coya Therapeutics disclosed Q2 2026 financials, reporting $43.2 million in cash—enough to fund operations past the ALSTARS Phase 2 ALS topline readout and into the second half of 2027. The trial remains on track to complete enrollment this year, with data expected in Q1 2027, a near-term catalyst. In the coming months, the company also plans to initiate a Phase 2 study in frontotemporal dementia, broadening its pipeline. These updates deliver concrete timelines and financial visibility, reducing near-term dilution risk and setting up a binary clinical event.
At the time of this filing, COYA was trading at $4.62 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $108.8M. The 52-week trading range was $3.71 to $7.75. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.