LLY - Coya Therapeutics: Potential Milestone For The Treatment Of Alzheimer's This Summer

2024-06-10 14:55:09 ET

Summary

• Coya Therapeutics is set to initiate a Phase 2 trial in ALS and release the topline results of a Phase 2 trial in Alzheimer's disease in the summer.
• The company's anti-inflammatory approach has received strong external validation.
• Recently, small open-label clinical trials in ALS and Alzheimer’s have shown improvement or disease stabilization.
• For the FDA, big pharma, and investors, a randomized trial is truly the big test for any drug candidate.
• Coya is considerably undervalued given the results it has shown so far.

Thesis

I consider Coya Therapeutics ( COYA ) one of several high-potential neurodegenerative plays. The company was first covered by me in May of last year. At the time, it had just announced data from two open-label clinical studies in ALS and in Alzheimer's disease [AD]. These studies were small and open-label, but consistently showed improvements or stabilization of patients treated with low-dose IL-2 [LD IL-2] or LD IL-2 + CTLA-4 Ig. Coya considers COYA 302, which is Coya's proprietary formulation of LD IL-2 and CTLA-4 Ig packaged in a combination kit, as the more promising drug candidate. COYA 302 not only promotes anti-inflammatory regulatory T cells (Tregs) but also down regulates inflammatory macrophages.

The past year, the company's progression was focused on financing, partnering and pipeline expansion....

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