UPDATE: Dr. Reddy's To Pay COYA $4.2M Upon First Patient Dosing In Phase 2 Trial Of COYA 302
Portfolio Pulse from Benzinga Newsdesk
Dr. Reddy's Laboratories has agreed to make several payments to Coya Therapeutics, including a $7.5M upfront payment, $4.2M upon IND application acceptance, another $4.2M upon first patient dosing in a Phase 2 trial, and up to $40M in development and regulatory milestones. Additionally, Coya is eligible for up to $677.25M in sales-based milestones.
December 06, 2023 | 12:24 pm
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Dr. Reddy's Laboratories has entered into a significant financial agreement with Coya Therapeutics, which includes a series of payments for development and regulatory milestones, as well as sales-based milestones.
The news indicates a substantial investment by Dr. Reddy's into the development of COYA 302, which could lead to future revenue streams if the drug is successful. The commitment to such a large sum suggests confidence in the drug's potential, which may be viewed positively by investors. However, the actual impact on the stock will depend on the progress of the trials and the market's perception of the investment's potential return.
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