Shares of biotechnology company Coya Therapeutics (NASDAQ:COYA) are on the rise today after in announced additional biomarker and brain imaging data from a proof-of-concept (open-label) study evaluating COYA301 in subjects with mild to moderate Alzheimer’s disease.
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In the study, the drug demonstrated statistically significant gains in mean MSME scores during treatment along with a statistically significant decrease in blood biomarkers CCL11, CCL2, and IL-15. Additionally, COYA301 also pointed to statistically significant decreases in the ‘peripheral expression of the pro-inflammatory cytokines TNF- α, IL-6, and IL-1 β. These are key biomarkers in neuroinflammation and neuronal damage.
The company believes these findings support its approach to developing treatments for neurodegenerative diseases as it develops COYA301 in Alzheimer’s disease and COYA302 in amyotrophic lateral sclerosis (ALS).
Overall, the Street has a $17.33 consensus price target on Coya pointing to a massive 282.56% potential upside in the stock.
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