Coya Therapeutics Enters $30M At‑the‑Market Sales Agreement

What Happened
Coya Therapeutics, Inc. announced on May 12, 2026 that it entered into a Sales Agreement with Leerink Partners LLC under which the company may offer and sell up to $30,000,000 of its common stock in an at‑the‑market (ATM) program. The offering will be made under the company’s Form S‑3 shelf registration (File No. 333-289511) and the related prospectus supplement dated May 12, 2026.

Key Details

• Agreement date: May 12, 2026; sales agent: Leerink Partners LLC.
• Maximum aggregate proceeds: up to $30,000,000 of common stock.
• Commission: 3.0% of gross proceeds payable to Leerink Partners; company also reimburses certain specified expenses and provides customary indemnification.
• Sales mechanics: shares may be sold “at the market” on or through Nasdaq, in negotiated transactions, or to Leerink as principal under separate terms; the company has no obligation to sell and may suspend or terminate the program.

Why It Matters
This ATM provides Coya with a flexible way to raise capital over time without a fixed financing commitment. If shares are sold under the program, proceeds would increase the company’s liquidity but would also dilute existing shareholders’ ownership on a per‑share basis. The program’s costs include a 3% selling commission and specified expense reimbursements to the sales agent. The full Sales Agreement is filed as an exhibit to the 8‑K for investors who want the detailed terms.