Decoy Therapeutics (DCOY) Registration filing summary

Company overview and business model

• Pre-clinical stage biotechnology company developing peptide conjugate therapeutics using a proprietary AI/ML-driven IMP3ACT™ platform targeting infectious diseases and oncology.

• Pipeline includes Designable Multi-Antivirals (D-MAV) for respiratory viruses and two legacy small molecule clinical candidates.

• No approved products or revenue from product sales to date.

• Recent merger with Legacy Decoy and name change effective January 8, 2026.

Financial performance and metrics

• Recurring operating losses since inception; no product sales revenue.

• $3.5 million raised in June 2026 private placement; cash expected to fund operations only into late 2026.

• Substantial doubt about ability to continue as a going concern per auditor and management.

Use of proceeds and capital allocation

• No proceeds from resale of shares by selling stockholders; proceeds from any cash exercise of warrants will be used for working capital and general corporate purposes.

• If all warrants are exercised for cash, potential gross proceeds of approximately $19.1 million.