Chardan bullish on Coya following ‘encouraging’ data for 302 targeting ALS

Chardan analyst Keay Nakae notes that Coya Therapeutics has reported results from an investigator-led study evaluating COYA 302 in ALS patients. Data from this study was also presented at the Muscular Dystrophy Association Clinical & Scientific Conference 2023. While conducted in a small group of 4 ALS patients in an open label format, the firm views these data as "encouraging" and providing initial proof of concept for COYA 302’s safety and potential mechanism of action in the clinic, addressing both inflammation and oxidative stress associated with ALS. Chardan has a Buy rating on the shares with a price target of $9.