Tiny IPO clos­es out Nas­daq's bar­ren biotech year

Nas­daq added one more biotech to its 2022 ros­ter in the fi­nal days of the year, clos­ing out a qui­et chap­ter in its his­to­ry with a tiny IPO.

Coya Ther­a­peu­tics raised $15.25 mil­lion by sell­ing a mix of stock and war­rants, with shares priced at $5 apiece and each war­rant grant­i­ng pur­chasers the right to buy Coya stock at $7.50 per share.

Based out of Hous­ton, Coya spe­cial­izes in lever­ag­ing reg­u­la­to­ry T cells for neu­rode­gen­er­a­tive, au­toim­mune and meta­bol­ic dis­eases. At the time it filed its S-1 — in late No­vem­ber — the biotech com­prised on­ly six full-time em­ploy­ees.

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