The company's capital structure is characterized by a significant $69.2B accumulated deficit, though it maintains a healthy current ratio of 15.02 as of 2026Q1.
| Total Current Assets | 53.26B | 49.94M | 44.31M | 41.2M | 7.18M | 4.58M | 8.75M |
| Cash & Short-Term Investments | 46.82M | 46.82M | 38.34M | 32.63M | 5.93M | 4.34M | 8.72M |
| Cash Only | 46.82M | 46.82M | 38.34M | 32.63M | 5.93M | 4.34M | 8.72M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 730.58K | 7.5M | 0 | 0 | 1K |
| Days Sales Outstanding | - | - | 75.03 | 456.08 | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 2.54B | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 8.42M | 11.23K | 38.59K | 65.95K | 1.21M | 207.85K | 0 |
| Property, Plant & Equipment | 8.42M | 11.23K | 38.59K | 65.95K | 93.31K | 120.67K | 0 |
| Fixed Asset Turnover | 3.75x | 707.74x | 92.10x | 91.01x | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 1.12M | 87.18K | 0 |
| Total Assets | 53.27B | 49.95M | 44.35M | 41.26M | 8.4M | 4.79M | 8.75M |
| Asset Turnover | 0.00x | 0.16x | 0.08x | 0.15x | - | - | - |
| Asset Growth % | 138595.3% | 12.63% | 7.48% | 391.48% | 75.2% | -45.23% | - |
| Total Current Liabilities | 3.55B | 5.87M | 3.82M | 5.05M | 3.82M | 1.15M | 447.12K |
| Accounts Payable | 948.19M | 1.06M | 1.59M | 1.16M | 1.82M | 857.57K | 447.12K |
| Days Payables Outstanding | 5.27M | 14.16K | 48.85 | 76.67 | 150.16 | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 1.24B | 1.2M | 848.29K | 923.11K | 0 | 0 | 0 |
| Other Current Liabilities | 1.36B | 3.61M | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 15.02x | 8.50x | 11.59x | 8.15x | 1.88x | 3.99x | 19.57x |
| Quick Ratio | 15.02x | 8.50x | 11.59x | 8.15x | 1.88x | 3.99x | 19.57x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 754.2M | 1.05M | 945.45K | 574.68K | 12.97M | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 12.97M | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 754.2M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 4.3B | 6.92M | 4.77M | 5.63M | 16.79M | 1.15M | 447.12K |
| Total Debt | 0 | 0 | 0 | 0 | 12.97M | 0 | 0 |
| Net Debt | -46.82M | -46.82M | -38.34M | -32.63M | 7.03M | -4.34M | -8.72M |
| Debt / Equity | 0.00x | - | - | - | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - |
| Net Debt / EBITDA | 2.13x | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | -18.08x |
| Total Equity | 48.97B | 43.03M | 39.58M | 35.64M | -8.39M | 3.64M | 8.3M |
| Equity Growth % | 146625.86% | 8.72% | 11.06% | 524.56% | -330.36% | -56.11% | - |
| Book Value per Share | 2927.05 | 2.57 | 2.60 | 3.51 | -0.84 | 0.55 | 3.21 |
| Total Shareholders' Equity | 48.97B | 43.03M | 39.58M | 35.64M | -8.39M | 3.64M | 8.3M |
| Common Stock | 2.35M | 2.09K | 1.67K | 1.44K | 259 | 259 | 259 |
| Retained Earnings | -69.17B | -61.96M | -40.74M | -25.86M | -17.87M | -5.62M | -731.98K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical Trial Execution Failure
According to recent financial disclosures, Coya maintains a cash position of $46.8M as of 2026Q1, which provides a necessary buffer for ongoing clinical trials, though the company's reliance on milestone-driven inflows suggests that liquidity remains highly sensitive to the timing of future partnership-related payments.
The current ratio of 15.02 appears robust on the surface, yet this metric is heavily skewed by the lumpy nature of deferred revenue and the absence of significant short-term debt obligations. Investors should monitor whether this liquidity buffer is sufficient to reach the next clinical inflection point without necessitating further dilutive equity raises.
As reported in financial statements, the company's equity base is currently pressured by a significant accumulated deficit of $69.2B, reflecting the heavy capital intensity required to advance its pipeline, which necessitates careful scrutiny of potential future dilution to sustain operations.
The persistent growth in the accumulated deficit highlights the ongoing challenge of funding high-cost R&D activities without a recurring commercial revenue stream. The equity structure appears vulnerable to further erosion if clinical milestones are not met, potentially forcing management to prioritize capital preservation over long-term shareholder value.
Based on the provided balance sheet data, Coya's asset base is almost entirely comprised of cash and cash equivalents, with minimal investment in physical property or equipment, which underscores the company's status as a research-focused entity rather than a capital-intensive manufacturing operation.
The negligible net PPE of $8.4M confirms that the company's value is tied to its intellectual property and clinical pipeline rather than tangible assets. This asset-light model is appropriate for a pre-commercial biotech, but it leaves the company with little collateral value should it need to access traditional debt financing.
As indicated by the $1.2B in deferred revenue reported in 2026Q1, the balance sheet contains significant non-cash liabilities that represent future performance obligations rather than traditional debt, which may obscure the true underlying cash burn rate of the company's core research activities.
The presence of deferred revenue suggests that the company has received upfront payments that must be amortized over time, potentially masking the true extent of operational cash outflows. Analysts should adjust for these accounting entries to better understand the actual rate at which the company is consuming its cash reserves.
Quick answers to the most common questions about buying COYA stock.
As of 2025, Coya Therapeutics, Inc. (COYA) had total assets of $50.0M including $49.9M in current assets.
Coya Therapeutics, Inc. (COYA) carries total debt of $0.0M, offset by $46.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Coya Therapeutics, Inc. (COYA) has total shareholders' equity (book value) of $43.0M ($2.57 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Coya Therapeutics, Inc. (COYA) reported a current ratio of 8.50x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.