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ALS drug developer Coya Therapeutics (COYA) has proposed to boost $17M via an preliminary public providing.
Coya did not specify in its submitting the quantity or value of the shares to be supplied, however indicated in an connected submitting payment schedule that it was searching for round $17M.
The biotech firm hopes to have its shares listed on Nasdaq underneath the image COYA. Chardan and Newbridge Securities are serving as lead bookrunners.
A growth stage firm, Coya is working within the purple. For the nine-month interval ended Sept. 30, Coya reported a web lack of $9M with no income.
Primarily based in Houston, Coya is creating cell-based therapies geared toward enhancing the operate of regulatory T-cells, additionally referred to as Tregs, for the remedy of autoimmune, neurodegenerative and metabolic ailments. The corporate’s lead drug candidate, COYA 101, is in Section 2 testing for the remedy of ALS, also called Lou Gehrig’s illness.
Coya is the most recent cell remedy developer to file for an providing. Regenerative medication firm Biostage filed for an uplisting and $6M providing in late October, whereas Malaysian biotech CytoMed filed for a $10M IPO final Friday.
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