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COYA on Nasdaq

Coya Therapeutics, Inc.

American pharmaceutical preparations company based in Houston1

In its 2026 annual report the company says: “We are a clinical-stage biotechnology company focused on developing proprietary new therapies to enhance the function of regulatory T cells.”3 Its shares trade on Nasdaq under the symbol COYA.1

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Last updated Oct 21, 2026.

Overview

Compare with Cogent Biosciences, Inc., RedHill Biopharma Ltd. or Aclaris Therapeutics, Inc., or pick any stock.

  • TickerCOYA on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersHouston, Texas1
  • Incorporated inDE2
  • Business address12645 Memorial Dr., Suite F1 #305, Houston, Tx 770242
  • Filer category, Emerging growth company2
  • Legal formCorporation

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All references in this report to "Coya," the "Company," "we," "us," or "our" mean Coya Therapeutics, Inc. unless stated otherwise or the context otherwise indicates.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-283.9%Operating margin4
-267.1%Net margin4
123.6%Revenue growth, 20254
-49.3%Return on equity4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$7.9M
  • Income tax0¢$3.1K

Out of $7.9M in revenue.4 The company lost money this year.

Financial statements

Revenue564$7.9M in 2025
0$2.0M$4.0M$6.0M$8.0M2022: $0$020222023: $6.0M$6.0M20232024: $3.6M$3.6M2024−41%2025: $7.9M$7.9M2025+124%
Operating income7564-$22.6M in 2025+363% since 2021
-$30.0M-$20.0M-$10.0M02021: -$4.9M-$4.9M20212022: -$9.8M-$9.8M2022+101%2023: -$7.9M-$7.9M2023−19%2024: -$17.2M-$17.2M2024+118%2025: -$22.6M-$22.6M2025+31%
Net income7564-$21.2M in 2025+334% since 2021
-$30.0M-$20.0M-$10.0M02021: -$4.9M-$4.9M20212022: -$12.2M-$12.2M2022+150%2023: -$8.0M-$8.0M2023−35%2024: -$14.9M-$14.9M2024+86%2025: -$21.2M-$21.2M2025+43%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Collaboration revenue$7.9M$3.6M
Research and development$16.7M$11.9M
In-process research and development$2.3M$25.0K
General and administrative$11.4M$8.9M
Depreciation$27.4K$27.4K
Total operating expenses$30.5M$20.8M
Loss from operations-$22.6M-$17.2M
Other income$1.3M$1.6M
Pre-tax loss-$21.2M-$15.6M
Income tax (expense) benefit-$3.1K$720.3K
Net loss-$21.2M-$14.9M
Net loss per share of common stock, basic-$1.27-$0.98
Net loss per share of common stock, diluted-$1.27-$0.98
Weighted-average shares of common stock outstanding, basic16.7M shares15.2M shares
Weighted-average shares of common stock outstanding, diluted16.7M shares15.2M shares

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Corporate structure

Coya Therapeutics, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Coya Therapeutics, Inc.

  • Orin Hirschman Filed SCHEDULE 13G/A on Coya Therapeutics, Inc., latest Jul 27, 2026 (5 filings since Jan 5, 2023)
  • Dr. Reddy's Laboratories Filed SCHEDULE 13G on Coya Therapeutics, Inc., latest Mar 12, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Coya Therapeutics, Inc., latest Jan 30, 2026 (4 filings since Nov 4, 2024)
  • DME Capital Management, LP Filed SCHEDULE 13G/A on Coya Therapeutics, Inc., latest Feb 14, 2025
  • GREENLIGHT CAPITAL INC Filed SC 13G/A on Coya Therapeutics, Inc., latest Feb 14, 2024 (2 filings since Dec 12, 2023)
  • Howard Berman Filed SC 13G/A on Coya Therapeutics, Inc., latest Feb 14, 2023 (2 filings since Feb 14, 2023)
  • Coya Therapeutics, Inc. Houston, Texas

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Coya Therapeutics, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$136.8K6 Dec 31, 2024$136.8K6 Dec 31, 20230%
Accumulated depreciation$98.2K6 Dec 31, 2024$70.9K6 Dec 31, 2023+38.6%
Property and equipment, net$11.2K4 Dec 31, 2025$38.6K4 Dec 31, 2024−70.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$46.8M4 Dec 31, 2025$38.3M4 Dec 31, 2024+22.1%

Properties, in its own words

We currently conduct business operations from our virtual headquarters in Houston, Texas. We have intentions to move into a physical corporate headquarters sometime in the near future.

Item 2 of the 10-K filed Mar 16, 2026.3

Leadership

Who has led Coya Therapeutics, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Howard Berman2022–2024
  2. Arun Swaminathan2024–now

Chair

  1. Howard Berman2026–now

Chief financial officer

  1. David S. Snyder2022–now
2025
Board members and other officers (9)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerGreg MacMichael named May 20, 202222
  • DirectorAnn Lee named May 20, 2022 to Oct 28, 202423
  • DirectorWilbur Ross named Dec 20, 2023 to Oct 28, 202423

Timeline

  1. Oct 14, 20268-K Other events24
  2. Oct 5, 20268-K Other events25
  3. Sep 15, 20268-K Other events26
  4. Aug 11, 20268-K Results of operations27
  5. Aug 7, 20268-K Executive or director change28
  6. Jun 25, 20268-K Shareholder vote29
  7. May 12, 20268-K Results of operations; Other events30
  8. May 12, 20268-K Entered a material agreement31
  9. Apr 2, 20268-K Executive or director change32
  10. Mar 16, 20268-K Results of operations33
  11. Jan 30, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure34
  12. Jan 20, 20268-K Other events35
  13. Nov 12, 2024New chief executive Arun Swaminathan becomes CEO10
  14. Dec 28, 2022New chief executive Howard Berman becomes CEO11

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.10) a share, on Nov 12, 2025.36

When it reported results

  1. Aug 11, 2026Reported quarterly or annual results27
  2. May 12, 2026Reported quarterly or annual results30
  3. Mar 16, 2026Reported quarterly or annual results33
  4. Nov 12, 2025Reported quarterly or annual results37
  5. Aug 12, 2025Reported quarterly or annual results38
  6. May 13, 2025Reported quarterly or annual results39
  7. Mar 18, 2025Reported quarterly or annual results40
  8. Nov 6, 2024Reported quarterly or annual results41

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

229 filings to the SEC since October 2021: 6 annual reports, 11 quarterly reports, 55 major events, 68 insider forms, 15 large holders, 3 private raises, 71 other. The latest 20:

  1. Oct 14, 20268-K EDGAR
  2. Oct 5, 20268-K EDGAR
  3. Sep 15, 20268-K EDGAR
  4. Aug 11, 202610-Q EDGAR
  5. Aug 11, 20268-K EDGAR
  6. Aug 7, 20268-K/A EDGAR
  7. Jul 27, 2026SCHEDULE 13G/A EDGAR
  8. Jun 25, 20268-K EDGAR
  9. May 13, 2026ARS EDGAR
  10. May 13, 2026DEFA14A EDGAR
  11. May 13, 2026DEF 14A EDGAR
  12. May 12, 20268-K EDGAR
  13. May 12, 2026424B5 EDGAR
  14. May 12, 202610-Q EDGAR
  15. May 12, 20268-K EDGAR
  16. Apr 9, 20264 EDGAR
  17. Apr 9, 20263 EDGAR
  18. Apr 2, 20268-K EDGAR
  19. Mar 20, 2026EFFECT EDGAR
  20. Mar 20, 2026424B3 EDGAR

The 229 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

12 open-market trades by officers, directors and large owners since October 2021: 12 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 14, 2024SNYDER DAVID SChief Financial OfficerBuy1,800$7.19$12.9KForm 4
Nov 13, 2024Swaminathan ArunChief Executive OfficerBuy5,000$7.36$36.8KForm 4
Nov 11, 2024Grossman FredChief Medical OfficerBuy2,710$7.37$20.0KForm 4
Nov 11, 2024Swaminathan ArunChief Executive OfficerBuy5,000$7.34$36.7KForm 4
Aug 22, 2023Lee AnnDirectorBuy1,000$3.62$3.6KForm 4
Jan 3, 2023Berman HowardExecutive ChairmanBuy10,000Form 4
Jan 3, 2023Lee AnnDirectorBuy10,000Form 4
Jan 3, 2023Hepner AdrianChief Medical OfficerBuy10,000Form 4
Jan 3, 2023SNYDER DAVID SChief Financial OfficerBuy7,000Form 4
Jan 3, 2023Garren HidekiDirectorBuy2,000Form 4
Jan 3, 2023Villalobos AnabellaDirectorBuy10,000Form 4
Jan 3, 2023GOLDSTEIN DOV A MDDirectorBuy10,000Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Arun Swaminathan57$546.0K$2.1M48
2025Howard Berman$436.8K$1.5M48
2025Fred Grossman$498.2K$1.5M48
2025David Snyder65$442.0K$1.4M48
2024Former Chief Executive OfficerFormer Executive Chairman of the Board$553.3K$2.7M48
2024PresidentChief Medical Officer$479.0K$1.9M48
2024Chief Executive OfficerDirector$441.7K$1.5M48
2024Chief Financial Officer and Chief Operating Officer$425.0K$1.5M48

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Oct 23, 2024Raised $10 million in a private offering of equity Form D: 9 investors so far Form D
  2. Dec 5, 2023Raised $26.5 million in a private offering of equity Form D: 122 investors so far Form D
  3. Apr 5, 2022Raised $10.4 million in a private offering of debt Form D: $20 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 54. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
DME Capital Management, LP2,335,540$13.7M0.3%No change
Vanguard Capital Management LLC842,220$4.9M0.0%−2,693
Alyeska Investment Group, L.P.800,000$4.7M0.0%No change
AIGH Capital Management LLC631,912$3.7M0.3%−343,492
CM Management, LLC400,000$2.3M1.5%+25,000
Private Management Group Inc384,217$2.2M0.1%+15,121
Marshall Wace, Llp249,793$1.5M0.0%+24,001
Geode Capital Management, LLC228,243$1.3M0.0%−5,159
Renaissance Technologies LLC192,986$1.1M0.0%+89,022
Prosight Management, LP170,000$994.5K0.2%−250,360
Dimensional Fund Advisors LP155,917$913.0K0.0%+59,998
Vanguard Fiduciary Trust Co129,551$757.9K0.0%−10,335
Jones Financial Companies Lllp110,910$610.0K0.0%+65,950
BlackRock, Inc.102,408$599.1K0.0%+19,639
Prelude Capital Management, LLC101,330$592.8K0.0%No change
JBF Capital, Inc.100,006$585.0K0.1%No change
Royal Bank Of Canada93,414$546.0K0.0%+80,022
Morgan Stanley82,106$480.3K0.0%−3,594
State Street Corp79,813$466.9K0.0%No change
Susquehanna International Group, Llp61,006$356.9K0.0%+21,690
Northern Trust Corp45,072$263.7K0.0%+4,654
XTX Topco Ltd41,401$242.2K0.0%−5,937
ADAR1 Capital Management, LLC40,900$239.3K0.0%No change
Long Corridor Asset Management Ltd38,766$226.8K0.1%No change
Cetera Investment Advisers34,000$198.9K0.0%+4,000

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Coya Therapeutics, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCoya Therapeutics, Inc.1
  • CIK0001835022
  • Employer ID (EIN)85-40177813
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address12645 Memorial Dr., Suite F1 #305, Houston, TX 770241
  • Phone650.739.39391
  • Shares outstanding23,457,849 as of Aug 7, 20269
  • Public float$89.4M as of Jun 30, 20253
  • AuditorWeaver and Tidwell, L.L.P., New York, NY PCAOB ID 410; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJan 5, 20211
  • Filings230 in all: 4 (54), 8-K (54), 3 (13), 10-Q (11), CORRESP (10), UPLOAD (10), EFFECT (7), SC 13G/A (6)1
    All 35 form types

    DEFA14A (5), S-3 (5), SCHEDULE 13G/A (5), 10-K (4), 424B3 (4), ARS (4), D (4), DEF 14A (4), 424B5 (3), SC 13G (3), 10-K/A (2), 424B4 (2), DRS/A (2), DRSLTR (2), S-1/A (2), S-8 (2), SEC STAFF LETTER (2), 4/A (1), 424B7 (1), 8-A12B (1), 8-K/A (1), CERT (1), DRS (1), FWP (1), POS AM (1), S-1 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 16, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Proxy statement (DEF 14A) May 13, 2026
    Latest 8-K (8-K) Oct 14, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001 per shareCOYAThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 16, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Coya Therapeutics, Inc. names in Item 1A of its 10-K filed Mar 16, 2026: 73 risks under these headings, as written.3

  • Risks Related to Our Business, Financial Condition and Capital Requirements
  • We are a clinical-stage biotechnology company with limited resources, have a limited operating history and have no products approved for commercial sale, which may make it difficult to evaluate our current business and predict our future success and viability.
  • We have incurred significant losses since our inception and we expect to incur significant losses for the foreseeable future, and we will require sufficient additional funding to finance our operations, which may not be available.
  • We have never generated revenue from product sales and may never achieve or maintain profitability.
  • We will need to raise additional capital and if we are unable to successfully raise additional capital, our future clinical trials and product development could be limited and our long-term viability may be threatened.
  • As a public company, we are obligated to develop and maintain proper and effective controls over financial reporting. If we fail to maintain proper and effective internal controls over financial reporting in the future, our ability to produce accurate and timely financial statements could be impaired, which could harm our operating results, investors’ views of us and, as a result, the value of our securities.
  • Any acquisitions or strategic collaborations may increase our capital requirements, dilute our stockholders, cause us to incur debt or assume contingent liabilities or subject us to other risks.
  • Drug development is a highly uncertain undertaking and involves a substantial degree of risk. We have never generated any revenue from product sales, we may never generate any revenue from product sales, and we may fail to generate further revenue from grants or contracts or to be profitable.
  • Due to the significant resources required for the development of our programs, and depending on our ability to access capital, we may prioritize development of certain product candidates over others. We may expend our limited resources on programs that do not yield a successful product candidate and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.
  • We face risks related to public health epidemics and pandemics, which could significantly disrupt our preclinical studies and clinical trials.
  • Disruptions in the global economy and supply chains may have a material adverse effect on our business, financial condition and results of operations.
  • Unfavorable global economic conditions and adverse developments with respect to financial institutions and associated liquidity risk could adversely affect our business, financial condition and stock price.
The other 62 risks
  • Adverse global conditions, including economic uncertainty, may negatively impact our financial results.
  • Our ability to use our net operating loss carryovers and certain other tax attributes may be limited.
  • Risks Related to Development and Regulatory Approval
  • Our business depends upon the success of our potential therapeutic modalities and product candidates.
  • Utilizing Treg cells represents a novel approach to the treatment of neurodegenerative and auto immune diseases, and we must overcome significant challenges in order to develop, commercialize and manufacture our product candidates.
  • Clinical development involves a lengthy and expensive process with an uncertain outcome, and we may encounter substantial delays due to a variety of reasons outside our control.
  • Changes in the U.S. political and regulatory environment could affect availability of government funding that we or our third party collaborators may rely on, which could negatively impact the development of our product candidates.
  • There is no assurance that we will develop our product candidates successfully or be able to obtain regulatory approval for them.
  • We currently collaborate with various research institutions to perform the research and development activities needed to develop our product candidates, and if we ever choose to or need to find alternative research institutions, we may not be able to do so at all or, if we are able to do so, it may be costly and may cause significant delays in the development and commercialization of our product candidates.
  • Positive results from early studies of our product candidates are not necessarily predictive of the results of later studies and any future clinical trials of our product candidates. If we cannot show positive results or replicate any positive results from our earlier studies of our product candidates in our later studies and future clinical trials, we may be unable to successfully develop, obtain regulatory approval for and commercialize our product candidates.
  • We may encounter substantial delays in our planned clinical trials, or may not be able to conduct or complete our clinical trials on the timelines we expect, if at all.
  • Disruptions at the FDA and other government agencies caused by shutdowns or funding shortages could hinder their ability to hire, retain or deploy key leadership and other personnel, or otherwise prevent new or modified products from being developed, approved or commercialized in a timely manner or at all, which could negatively impact our business.
  • We may be unable to obtain regulatory approval for our product candidates under applicable regulatory requirements. If we are unable to design, conduct and complete our planned clinical trials successfully, our product candidates will not be able to receive regulatory approval.
  • Enrollment and retention of patients in clinical trials is an expensive and time-consuming process and could be delayed, made more difficult or rendered impossible by multiple factors outside our control.
  • Our preclinical programs may experience delays or may never advance to clinical trials, which would adversely affect our ability to obtain regulatory approvals or commercialize these programs on a timely basis or at all.
  • If any of our product candidates, or any competing product candidates, demonstrate serious adverse events, including the development of severe or fatal cytokine release syndrome, neurotoxicity or graft-versus-host disease, we may be required to halt or delay further clinical development.
  • Approval may be delayed or denied because we cannot satisfy FDA’s Chemistry, Manufacturing and Control Requirements.
  • We may seek special designations by the regulatory authorities to expedite regulatory approvals, but may not be successful in receiving such designations, and even if received, they may not benefit the development and regulatory approval process.
  • We may seek Orphan Drug Designation for our product candidates, and we may be unsuccessful or may be unable to maintain the benefits associated with Orphan Drug Designation, including the potential for market exclusivity.
  • We may not identify or discover other product candidates and may fail to capitalize on programs or product candidates that may present a greater commercial opportunity or for which there is a greater likelihood of success.
  • If third parties that we rely on to conduct clinical trials do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, we may not be able to obtain marketing approval for or commercialize our product candidates.
  • We have never obtained marketing approval for a product candidate and we may be unable to obtain, or may be delayed in obtaining, marketing approval for any of our product candidates.
  • Risks Related to Commercialization
  • If any of our product candidates are approved for marketing and commercialization and we have not developed or secured third- party marketing, sales and distribution capabilities, we will be unable to successfully commercialize such products and may not be able to generate product revenue.
  • If we fail to compete effectively with academic institutions and other biotechnology companies that are developing similar or alternatives to cellular immunotherapy product candidates, our business will be materially adversely affected.
  • If we are not able to establish pharmaceutical or biotechnology collaborations on commercially reasonable terms, or at all, we may have to alter our development and commercialization plans.
  • If we enter into collaborations with third parties to develop or commercialize our product candidates, our prospects with respect to those product candidates will depend in significant part on the success of those collaborations.
  • Our product candidates could be subject to regulatory limitations following approval, if and when such approval is granted.
  • The commercial success of any of our product candidates will depend upon such product candidate’s degree of market acceptance by physicians, patients, third-party payors and others in the medical community.
  • The insurance coverage and reimbursement status of newly approved products is uncertain. Failure to obtain or maintain adequate coverage and reimbursement for our product candidates, if approved, could limit our ability to market such products and to generate product revenue.
  • Healthcare reform initiatives and other administrative and legislative proposals may harm our business.
  • Obtaining and maintaining marketing approval or commercialization of our product candidates in one jurisdiction does not mean that we will be successful in obtaining marketing approval of our product candidates in other jurisdictions.
  • Our business operations and relationships with investigators, healthcare professionals, consultants, third-party payors, patient organizations and customers will be subject to applicable fraud and abuse and other healthcare laws and regulations, which could expose us to penalties.
  • Enacted and future healthcare legislation may increase the difficulty and cost for us to obtain marketing approval of and commercialize our product candidates, if approved, and may affect the prices we may set.
  • Risks Related to Our Employees, Managing Our Growth and Our Operations
  • We will need to increase the size of our organization, and we may experience difficulties in managing growth.
  • If we fail to attract and retain senior management and clinical and key scientific personnel, we may be unable to successfully develop our product candidates, conduct our clinical trials and commercialize our product candidates.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and could limit commercialization of any product candidate that we may develop.
  • Our insurance policies may be inadequate, may not cover all of our potential liabilities and may potentially expose us to unrecoverable risks.
  • Our business involves the use of hazardous materials and we and our third-party manufacturers and suppliers must comply with environmental laws and regulations, which can be expensive and restrict how we do business.
  • Computer system interruptions, cyber-attacks or security breaches could significantly disrupt our product development programs and our ability to operate our business.
  • Risks Related to Manufacturing
  • Our manufacturing process is complex and we may encounter difficulties in production, which would delay or prevent our ability to provide a sufficient supply of our product candidates for clinical trials or our products for patients, if approved.
  • We rely on third parties to manufacture our product candidates, which increases the risk that we will not have sufficient quantities of such product candidates or products or such quantities at an acceptable cost, which could delay, prevent or impair our development or commercialization efforts.
  • We are dependent on third parties to store our Treg cells and other products and any damage or loss would cause delays in replacement, and our business could suffer.
  • We have not yet developed a validated methodology for freezing and thawing large quantities of Treg cells, which we believe will be required for the storage and distribution of our Treg product candidates.
  • Risks Related to Our Intellectual Property
  • If our license agreement with The Methodist Hospital is terminated, we could lose our rights to key components enabling our Treg Modalities.
  • Our development and commercialization rights to our current and future product candidates and technology are subject, in part, to the terms and conditions of licenses granted to us by others.
  • Duration of patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time, and the expiration of our patents may subject us to increased competition.
  • If any patent protection we obtain is not sufficiently robust, our competitors could develop and commercialize products and technology similar or identical to ours.
  • Even after issuance, our owned and in-licensed patents may be subject to challenge, which if successful could require us to obtain licenses from third parties, which may not be available on commercially reasonable terms or at all, or to cease the use of the underlying technology, which could materially adversely affect our business.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which could materially adversely affect our ability to develop, manufacture and market our product candidates.
  • Claims brought against us for infringing, misappropriating or otherwise violating intellectual property rights of third parties or engaging in unfair competition, would be costly and time-consuming and could prevent or delay us from successfully developing or commercializing our product candidates.
  • We may not be able to effectively monitor unauthorized use of our intellectual property and enforce our intellectual property rights against infringement, and may incur substantial costs as a result of bringing litigation or other proceedings relating to our intellectual property rights.
  • We will not seek to protect our intellectual property rights in all jurisdictions throughout the world and we may not be able to adequately enforce our intellectual property rights even in the jurisdictions where we seek protection.
  • Changes in U.S. patent law or the patent law of other jurisdictions could decrease the certainty of our ability to obtain patents and diminish the value of patents in general, thereby impairing our ability to protect our current and any future product candidates.
  • We may fail to obtain or enforce assignments of intellectual property rights from our employees and contractors.
  • If we are not able to adequately prevent disclosure of trade secrets and other proprietary information, the value of our technology and products could be materially diminished.
  • Risks Related to Our Securities
  • If we sell securities in future financings, stockholders may experience immediate dilution and, as a result, our stock price may decline.
  • Our directors, executive officers and principal stockholders have substantial control over us and could delay or prevent a change of corporate control.
  • The market price for our common stock may be volatile, and your investment in our securities could decline in value.
  • Certain companies with public floats comparable to our public float have experienced extreme volatility that was seemingly unrelated to the underlying performance of the respective company. We may experience similar volatility, which may make it difficult for prospective investors to assess the value of our common stock.
  • We will incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.
  • We are an “emerging growth company,” and the reduced reporting requirements applicable to emerging growth companies may make our securities less attractive to investors.
  • We do not anticipate paying dividends on our common stock and, accordingly, stockholders must rely on stock appreciation for any return on their investment.
  • The administrator of our amended and restated 2021 Equity Incentive Plan (the “Amended and Restated Equity Plan”) is authorized to exercise its discretion to effect the repricing of stock options and stock appreciation rights and there may be adverse consequences to our business if the administrator of the Amended and Restated Equity Plan exercises such discretion.

Legal proceedings

From time to time, we may be involved in claims that arise during the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, we do not currently have any pending litigation to which we are a party or to which our property is subject that we believe to be material. Regardless of the outcome, litigation can be costly and time consuming, and it can divert management’s attention from important business matters and initiatives, negatively impacting our overall operations.

The opening of Item 3, Legal Proceedings.3

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
  25. 25
    SEC EDGAROther events
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    SEC EDGAROther events
  27. 27
  28. 28
  29. 29
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    SEC EDGAROther events
  36. 36
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  38. 38
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