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Investing.com - BTIG has reiterated its Buy rating and $15.00 price target on Coya Therapeutics (NASDAQ:COYA), currently trading at $6.86 with a market cap of $103 million, citing positive clinical data for the company’s COYA-302 therapy in both ALS and frontotemporal dementia (FTD) patients. The stock has shown strong momentum, gaining over 14% in the past week, according to InvestingPro data.
The company recently resubmitted its Investigational New Drug (IND) application following extensive FDA discussions regarding the safety of co-administering two immune modulators. BTIG views the IND acceptance, expected by late August, as a low-risk but significant milestone that would allow Coya to initiate a potentially registrational Phase 2/3 study. Analyst consensus remains strongly bullish, with price targets ranging from $14 to $20, suggesting significant upside potential from current levels.
BTIG notes that both components of COYA-302 are already approved as individual therapies, which reduces manufacturing and quality control risks. The therapy’s development is further supported by its biosimilar nature, making aspects of the program relatively straightforward.
Initial clinical experience with COYA-302 in ALS patients demonstrated disease stabilization in patients who were previously declining, along with increased T-regulatory cell activity. These positive signals were subsequently corroborated in FTD patients, who showed cognitive stability after treatment.
The upcoming Phase 2/3 trial builds on these two data sets, with BTIG highlighting that cognitive stability in symptomatic FTD patients is particularly noteworthy, referencing similar patient populations described in Alector’s (NASDAQ:ALEC) INFRONT-3 FTD trial. InvestingPro analysis shows the company maintains a strong financial position with more cash than debt and a healthy current ratio of 7.43. Discover more key metrics and 10+ additional ProTips for COYA with an InvestingPro subscription.
In other recent news, Coya Therapeutics has made significant strides in its operations and development efforts. The company has resubmitted its Investigational New Drug (IND) application to the U.S. Food and Drug Administration for a Phase 2 study of its COYA-302 treatment for amyotrophic lateral sclerosis (ALS), following additional data requests from the FDA. This trial is set to be a comprehensive, multi-center, 24-week study, with a further 24-week open-label extension. Additionally, Coya Therapeutics has received a new U.S. patent for its investigational liquid formulation of interleukin-2 (IL-2), a move that strengthens its intellectual property portfolio. This patent is expected to enhance the delivery and effectiveness of IL-2 treatments. Analyst firms have also shown confidence in the company’s prospects; Lake Street Capital initiated coverage with a Buy rating and a $16.00 price target, while H.C. Wainwright reaffirmed its Buy rating and maintained an $18.00 price target. These ratings reflect the potential seen in Coya’s innovative treatments and recent patent acquisition.
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