Sign in

DCOY on Nasdaq

Decoy Therapeutics Inc.

In its 2026 annual report the company says: “We are a pre-clinical stage biotechnology company focused on advancing our pipeline of peptide conjugate therapeutics engineered through our proprietary IMP 3 ACT™ platform. Our IMP 3 ACT™ platform represents a paradigm shift in peptide conjugate drug discovery and manufacturing, leveraging machine learning and artificial intelligence tools alongside high-speed synthesis techniques to rapidly engineer, optimize and manufacture peptide conjugates that target serious unmet medical needs.”3 It is headquartered in Houston, Texas.1 Its shares trade on Nasdaq under the symbol DCOY.1

Price unavailable

Last updated Oct 21, 2026.

Overview

Compare with Bio Essence Corp, Lipocine Inc. or Oramed Pharmaceuticals, or pick any stock.

  • TickerDCOY on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersHouston, Texas1
  • Incorporated inDE2
  • Business address2450 Holcombe Blvd, Suite J-608, Houston, Tx 770212
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

See how the biggest companies compare on our leaderboards

We are a pre-clinical stage biotechnology company focused on advancing our pipeline of peptide conjugate therapeutics engineered through our proprietary IMP 3 ACT™ platform. Our IMP 3 ACT™ platform represents a paradigm shift in peptide conjugate drug discovery and manufacturing, leveraging machine learning ("ML") and artificial intelligence ("AI") tools alongside high-speed synthesis techniques to rapidly engineer, optimize and manufacture peptide conjugates that target serious unmet medical needs. Peptide conjugates are emerging as a major therapeutic drug modality, with the potential to transform multiple therapeutic areas. Utilizing our novel IMP 3 ACT platform that increases the drug development speed and reduce the complexity of variant synthesis, we aim to build a robust portfolio of novel peptide conjugate therapeutics, initially focusing on infectious diseases and oncology, with…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 2022

-100.0%Revenue growth, 20224
-304.4%Return on equity5

Financial statements

Revenue674$0 in 2022
0$2.0M$4.0M$6.0M2019: $3.5M$3.5M20192020: $5.2M$5.2M2020+51%2021: $1.8M$1.8M2021−65%2022: $0$02022
Operating income6748-$31.8M in 2022+285% since 2019
-$40.0M-$30.0M-$20.0M-$10.0M02019: -$8.3M-$8.3M20192020: -$7.8M-$7.8M2020−6%2021: -$12.8M-$12.8M2021+65%2022: -$31.8M-$31.8M2022+149%
Net income6748-$31.6M in 2022+356% since 2019
-$40.0M-$30.0M-$20.0M-$10.0M02019: -$6.9M-$6.9M20192020: -$7.4M-$7.4M2020+6%2021: -$12.8M-$12.8M2021+74%2022: -$31.6M-$31.6M2022+148%

Every line of the income statement as filed: the last 2 fiscal years, latest first.11

Period ending2025-12-312024-12-31
Acquired in-process research and development$8.5M$0
Research and development$368.2K$770.0K
General and administrative$3.7M$5.0M
Total operating expenses$12.6M$5.7M
Loss from operations-$12.6M-$5.7M
Interest income and other, net$95.5K$158.5K
Net loss-$12.5M-$5.6M
Loss attributable to common stockholders-$12.5M-$5.6M
Net loss per share attributable to common stockholders - basic-$129-$70
Net loss per share attributable to common stockholders - diluted-$129-$70
Total net loss per share - basic-$129.10-$69.54
Total net loss per share - diluted-$129.10-$69.54
Weighted-average number of common shares used in net loss per share attributable to common stockholders - basic97.0K shares80.2K shares
Weighted-average number of common shares used in net loss per share attributable to common stockholders - diluted97.0K shares80.2K shares

Compare Decoy Therapeutics Inc. with another company

Corporate structure

Decoy 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 Decoy Therapeutics Inc.

  • Decoy 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 Decoy 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, net$40.6K11 Dec 31, 2025$011 Dec 31, 2024

Real estate and locations

ItemLatestA year beforeChange
Countries it operates in111 Dec 31, 2025

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$10.7M11 Dec 31, 2025$2.4M11 Dec 31, 2024+339.9%

Properties, in its own words

Our principal executive offices are in the Texas Medical Center in Houston, Texas, under a month-to-month lease. Currently, this facility consists of approximately 300 square feet and accommodates our general and administrative activities. We also maintain a facility at One Broadway, 14th Floor, Cambridge, MA 02142. Additionally, we lease laboratory space at 45-18 Ct Square W, Long Island City, NY 11101. Neither company owns any physical property, plants, or laboratories.

Item 2 of the 10-K filed Mar 31, 2026.3

Leadership

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

Chief executive

  1. Christoph H. Westphal2015–2016
  2. William K. McVicar2017–2018

President

  1. Christoph H. Westphal2015–2016
  2. Marina Hahn2015
  3. William K. McVicar2017–2018

Chief financial officer

  1. John P. McCabe2017–2018
  2. Scott Jordan2019
  3. Mark J. Rosenblum2019–now

Chief operating officer

  1. Katharine Lindemann2015–2017
20202025
Board members and other officers (26)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Chief Executive Officer, PresidentDavid J. Arthur named May 5, 2022 to Dec 27, 202445

Former names

  • Salarius Pharmaceuticals, Inc.Jul 23, 2019 to Jan 9, 20262
  • Flex Pharma, Inc.Aug 6, 2014 to Jul 22, 20192

Timeline

  1. Sep 23, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure46
  2. Sep 15, 20268-K Shareholder vote47
  3. Jul 15, 20268-K Shareholder vote48
  4. Jun 29, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure49
  5. May 19, 20268-K Director nominations; Other events50
  6. Apr 2, 20268-K Other events51
  7. Mar 5, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed; Other events52
  8. Feb 25, 20268-K Shareholder vote53
  9. Jan 8, 20268-K Bylaws or fiscal year changed; Other events54
  10. Jan 2, 20268-K Shareholder vote55
  11. Jan 2, 20268-K Listing notice or transfer56
  12. Dec 19, 20258-K Shareholder vote; Regulation FD disclosure57
  13. Jul 27, 2017New chief executive William K. McVicar becomes CEO12
  14. Jan 28, 2015New chief executive Christoph H. Westphal becomes CEO13

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($21.73) a share, on Nov 14, 2025.58

When it reported results

  1. Jul 31, 2025Reported quarterly or annual results59
  2. Jan 17, 2025Reported quarterly or annual results60
  3. Aug 10, 2023Reported quarterly or annual results61
  4. Nov 10, 2022Reported quarterly or annual results62
  5. Aug 15, 2022Reported quarterly or annual results63
  6. May 12, 2022Reported quarterly or annual results64
  7. Mar 10, 2022Reported quarterly or annual results65

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

Filings

262 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 75 major events, 64 insider forms, 12 large holders, 3 private raises, 86 other. The latest 20:

  1. Oct 7, 2026S-1 EDGAR
  2. Sep 23, 20268-K EDGAR
  3. Sep 15, 20268-K EDGAR
  4. Sep 2, 20264 EDGAR
  5. Sep 2, 20264 EDGAR
  6. Sep 2, 20264 EDGAR
  7. Sep 2, 20264 EDGAR
  8. Sep 2, 20264 EDGAR
  9. Sep 2, 20264 EDGAR
  10. Sep 2, 20264 EDGAR
  11. Sep 2, 20264 EDGAR
  12. Sep 2, 20264 EDGAR
  13. Sep 2, 20264 EDGAR
  14. Aug 14, 2026SCHEDULE 13G EDGAR
  15. Aug 12, 202610-Q EDGAR
  16. Aug 4, 2026DEFA14A EDGAR
  17. Aug 4, 2026DEF 14A EDGAR
  18. Jul 31, 20263 EDGAR
  19. Jul 24, 2026PRE 14A EDGAR
  20. Jul 17, 2026EFFECT EDGAR

The 262 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

11 open-market trades by officers, directors and large owners since October 2021: 10 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 30, 2025HANISH ARNOLD CDirectorSale27$0.64$17Form 4
Nov 20, 2025HANISH ARNOLD CDirectorBuy5,000$0.75$3.8KForm 4
Nov 20, 2025Rosenblum Mark JChief Financial OfficerBuy20,000$0.80$16.0KForm 4
Jun 7, 2022Burleson TessDirectorBuy27,700$0.18$5.0KForm 4
Jun 7, 2022Lieber Jonathan IDirectorBuy37,500$0.19$7.1KForm 4
Jun 6, 2022McVicar William K.DirectorBuy26,553$0.19$5.0KForm 4
Jun 3, 2022HANISH ARNOLD CDirectorBuy28,000$0.18$5.0KForm 4
May 31, 2022Rosenblum Mark JChief Financial OfficerBuy28,000$0.18$5.0KForm 4
May 26, 2022Arthur David J.Chief Executive OfficerBuy43,900$0.18$7.9KForm 4
Mar 3, 2022Rosenblum Mark JChief Financial OfficerBuy76,246$0.39$29.7KForm 4
Mar 3, 2022Arthur David J.Chief Executive OfficerBuy139,488$0.39$54.4KForm 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.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$8.3M 2022–2023
Money received by yearMoney received by year, 2022–2023: $8.3M in all. Private raises (Form D) $8.3M.$0$2M$4M$6M2022 · Private raises (Form D): $2.3M20222023 · Private raises (Form D): $6.0M2023
Figures by year
YearPrivate raises (Form D)Total
2023$6.0M$6.0M
2022$2.3M$2.3M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Dec 27, 2024Filed a private offering of equity45 Form D: $10 million offered in all Form D
  2. May 11, 2023Raised $6 million in a private offering of equity74 Form D: 1 investor so far Form D
  3. Apr 25, 2022Raised $2.3 million in a private offering of securities75 Form D: 4 investors so far Form D

Held by these funds

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

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC4,034$29.0K0.0%New
Tower Research Capital LLC (TRC)256$1.8K0.0%−765
UBS Group AG25$1800.0%−521
Caitong International Asset Management Co., Ltd2$140.0%New

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

SEC filer profile

How Decoy 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 EDGARDecoy Therapeutics Inc.1
  • CIK0001615219
  • Employer ID (EIN)46-50873393
  • Filer statusNon-accelerated filer not 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 address2450 Holcombe Blvd, Suite J-608, Houston, TX 770211
  • Phone346-772-03461
  • Shares outstanding655,185 as of Aug 12, 20269
  • Public float$1.9M as of Jun 30, 20253
  • AuditorErnst & Young LLP, Houston, Texas PCAOB ID 42; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceAug 6, 20141
  • Filings741 in all: 4 (233), 8-K (166), 10-Q (35), 3 (34), CORRESP (26), 425 (20), UPLOAD (17), DEF 14A (16)1
    All 45 form types

    424B5 (14), DEFA14A (13), 10-K (12), EFFECT (12), SC 13G/A (12), 4/A (11), S-1/A (11), SC 13G (11), S-8 (9), SC 13D (8), 8-K/A (7), S-1 (7), S-3 (7), SC 13D/A (6), 424B3 (5), PRE 14A (5), 3/A (4), CT ORDER (4), D (4), FWP (4), SCHEDULE 13G (4), 10-K/A (3), 424B4 (3), 5 (2), S-1MEF (2), S-3/A (2), S-4/A (2), 10-Q/A (1), 8-A12B (1), CERTNAS (1), DFAN14A (1), DRS (1), DRS/A (1), DRSLTR (1), RW (1), S-4 (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) Aug 4, 2026
    Latest 8-K (8-K) Sep 23, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $ 0.0001DCOYThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Decoy Therapeutics Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 47 risks under these headings, as written.3

  • Risks Related to our Business
  • Nasdaq may delist our securities from trading on its exchange, which could limit investors’ ability to make transactions in our securities and subject us to additional trading restrictions.
  • Our financial condition raises substantial doubt regarding our ability to continue as a going concern.
  • We have never generated revenue from product sales and all of our potential product candidates are currently in the pre-clinical stage, and we may continue to incur significant losses for the foreseeable future and never generate revenue from product sales.
  • Because we have yet to generate revenue from product sales on which to evaluate our potential for future success and to determine if we will be able to execute our business plan, it is difficult to evaluate our prospects and the likelihood of success or failure of our business.
  • Because early-stage drug development requires major capital investment, as we continue to incur operating losses, we will need to raise additional capital or form strategic partnerships to support our research and development activities in the future.
  • We may become involved in securities class action litigation that could divert management’s attention and harm our business and insurance coverage may not be sufficient to cover all costs and damages.
  • Risks Related to the Discovery, Development and Commercialization of Potential Product Candidates
  • If any strategic alliances on which we depend are unsuccessful or are terminated, we may be unable to develop or commercialize certain potential product candidates and we may be unable to generate revenues from our development programs.
  • Since we expect to rely on third parties to conduct, supervise and monitor any future clinical trials, if those third parties fail to perform in a satisfactory manner and one that meets applicable regulatory, scientific and safety requirements, it may materially harm our business.
  • Because the approach we are taking to discover and develop drugs is novel, including the usage of AI, it may never lead to marketable products.
  • If we do not succeed in our efforts to identify or discover additional potential product candidates, your investment may be lost.
The other 36 risks
  • Because our future commercial success depends on gaining regulatory approval for our products, we cannot generate revenue without obtaining approvals.
  • We may be unable to demonstrate safety and efficacy of our potential product candidates to the satisfaction of regulatory authorities, or we may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development and commercialization of our potential product candidates.
  • Even if the FDA grants breakthrough therapy designation for one or more of our potential product candidates, the designation may not lead to a faster development or regulatory review or approval process, and it does not increase the likelihood that our potential product candidates will receive marketing approval, and FDA may rescind the designation if it determines the product candidate no longer meets the qualifying criteria for breakthrough therapy.
  • Our potential product candidates may cause adverse effects or have other properties that could delay or prevent their regulatory approval or limit the scope of any approved label or market acceptance.
  • Following regulatory approval for a product candidate, we will still face extensive regulatory requirements, and the approved product may face future development and regulatory difficulties.
  • We may not succeed in obtaining or maintaining necessary rights to drug compounds and processes for our development pipeline through acquisitions and in-licenses.
  • Our product development programs are in the preclinical stage and we face significant competition from major companies who have developed or are developing vaccines or treatments for the diseases we are targeting, and if we fail to gain market share because our competitors develop and successfully commercialize vaccines or treatments, our business and future prospects could be materially and adversely affected.
  • We have limited experience in conducting and managing the preclinical development activities and clinical trials necessary to obtain approvals for marketing our potential product candidates, including approval by the FDA.
  • Risks Related to Our Operations and Industry
  • If we cannot obtain or protect intellectual property rights related to our future products and potential product candidates, we may not be able to compete effectively in our markets.
  • If third-party intellectual property infringement claims are asserted against us, it may prevent or delay our development and commercialization efforts and have a material adverse effect on our business and future prospects.
  • We may in the future be involved in lawsuits to protect or enforce our patents or the patents of our licensors, which could be expensive, time-consuming and unsuccessful.
  • We may need to obtain additional licenses to intellectual property rights from third parties.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties.
  • Because we face significant competition from other biotechnology and pharmaceutical companies, our operating results will suffer if we fail to compete effectively.
  • Our business could be negatively impacted by cybersecurity threats and other security threats and disruptions.
  • Failure of our information technology infrastructure to operate effectively could adversely affect our business.
  • The commercial success of our potential product candidates will depend upon the acceptance of these potential product candidates by the medical community, including physicians, patients and healthcare payors.
  • Disruptions at the FDA, the SEC and other U.S. government agencies or comparable foreign regulatory authorities could hinder their ability to hire and retain key leadership and other personnel, prevent new products and services from being developed or commercialized in a timely manner, or otherwise prevent those agencies from performing normal business functions, which could negatively impact our business and our timelines.
  • If we are unable to establish sales and marketing capabilities or enter into agreements with third parties to market and sell our potential product candidates, we may be unable to generate any revenues from product sales.
  • If we obtain approval to commercialize any approved products outside of the United States, a variety of risks associated with international operations could materially adversely affect our business.
  • If we lose key management or scientific personnel, cannot recruit qualified employees, directors, officers, or other personnel or experience increases in our compensation costs, our business may materially suffer.
  • Any relationships with customers and third-party payors may be subject, directly or indirectly, to federal and state healthcare fraud and abuse laws, false claims laws and health information privacy and security laws. If we are unable to comply, or have not fully complied with such laws, we could face criminal sanctions, civil penalties, contractual damages, reputational harm and diminished profits and future earnings.
  • Because we will face potential product liability as we further develop potential product candidates and more so if we can commercialize any product candidate, if claims are brought against us, we may incur substantial liability and costs.
  • If we fail to comply with applicable laws and regulations, including environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on our business.
  • Our ability to use our net operating losses and tax credits to offset future taxable income and income tax liabilities may be limited.
  • Business interruptions resulting from natural disasters and adverse weather events could cause delays in research and development of our potential product candidates.
  • Risks Related to Ownership of our Common Stock
  • The price of our common stock may fluctuate substantially.
  • Future sales of a significant number of our shares of common stock in the public markets, or the perception that such sales could occur, could depress the market price of our shares of our common stock or cause our stock price to decline.
  • We do not currently intend to pay dividends on our common stock, and any return to investors is expected to come, if at all, only from potential increases in the price of our common stock.
  • If we were deemed to be an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), applicable restrictions could make it impractical for us to continue our business as contemplated and could have a material adverse effect on our business, financial condition and results of operations.
  • We are a “smaller reporting company” and are able to avail ourselves of reduced disclosure requirements applicable to smaller reporting companies, which could make our common stock less attractive to investors.
  • Our certificate of incorporation, our bylaws, and Delaware law may have anti-takeover effects that could discourage, delay, or prevent a change in control, which may cause our stock price to decline.
  • Financial reporting obligations of being a public company in the U.S. are expensive and time-consuming, and our management is required to devote substantial time to compliance matters.
  • General Risk Factors
  • If securities or industry analysts do not publish research or reports, or publish unfavorable research or reports about our business, our stock price and trading volume may decline.
  • Changes in tax laws or exposure to additional income tax liabilities could have a material impact on our business, results of operations, financial condition and cash flows.
  • Additional indirect taxes in various jurisdictions could materially adversely affect our business, financial condition, results of operations, and prospects.

Legal proceedings

We are not currently a party to any legal proceedings the outcome of which we believe, if determined adversely to us, would individually or in the aggregate, have a material adverse effect on our business, financial condition, or results of operations. From time to time, we may become involved in legal proceedings arising in the ordinary course of business.

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.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
    SEC EDGAROther events
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75