Decoy Therapeutics Provides Third Quarter 2026 Business Update

Lead pan-coronavirus program expected to file CTA/IND in 2H 2027 Optimized lead candidate shows potential for once-weekly dosing in preclinical studies Cash on balance sheet of $8.1 million at September 30, 2026

CAMBRIDGE, Mass., Nov. 03, 2026 (GLOBE NEWSWIRE) -- Decoy Therapeutics, Inc. (NASDAQ: DCOY), a biotechnology company pioneering Designable Multi-Antivirals (D-MAVs) to target major respiratory and high-consequence viral threats, today provided a business update for the third quarter ended September 30, 2026. During the quarter, Decoy advanced its lead pan-coronavirus program toward the clinic and identified an optimized lead candidate with potential for once-weekly dosing.

• Lead program timing: Decoy expects to file a Clinical Trial Application (CTA) or Investigational New Drug (IND) application in 2H 2027 to begin a Phase 1 trial of its pan-coronavirus candidate.

• Manufacturing planning: Decoy is evaluating manufacturing locations and is in discussions with manufacturers of pulmonary delivery systems to support clinical development of its pan-coronavirus candidate.

• Once-weekly dosing potential: In preclinical studies, the optimized lead candidate showed potential for once-weekly dosing, compared to daily dosing for earlier candidates.

• Pan-filovirus program: Decoy is exploring a program targeting Ebola, Marburg and related viruses.

• Non-dilutive funding: The Company has met with U.S. government and military agencies and has applied, or is applying, for several non-dilutive funding opportunities and strategic collaborations.

• Cash on hand: $8.1 million on the balance sheet at September 30, 2026.

"We are making excellent progress toward the clinic with our pan-coronavirus program, and our AI-enabled IMP³ACT™ platform continues to rapidly produce potential drug candidates against some of the world's deadliest viruses," said Rick Pierce, Chief Executive Officer of Decoy Therapeutics. "We are focused on advancing these programs efficiently, including leveraging non-dilutive funding from top-tier collaborators."

Decoy's lead program is designed to protect people at high risk from respiratory coronaviruses, including patients with chronic obstructive pulmonary disease (COPD), immunocompromised patients and transplant recipients. There are no approved therapies for endemic human coronaviruses. The program is partially funded by the Gates Foundation, and the Company plans to follow Phase 1 with a Phase 2a human challenge trial at hVivo, a contract research organization (CRO) based in the United Kingdom.

Less frequent dosing could improve adherence in high-risk patients and lower the Company's cost of goods. D-MAVs are designed for use both before exposure (pre-exposure prophylaxis) and after exposure (post-exposure prophylaxis).

Decoy's pan-filovirus program targets Ebola, Marburg and related viruses, and the Company is pursuing non-dilutive funding to support preclinical and clinical work across its programs. Decoy is also seeking strategic collaborations for its existing programs and new drug discovery partnerships, and seclidemstat, an investigational LSD1 inhibitor from the Company's legacy oncology portfolio, is available for license or sale.

• Cash on balance sheet was $8.1 million at September 30, 2026, including approximately $2.5 million in restricted Gates Foundation grant funding.

• As of September 30, 2026, Decoy had 2,385,282 shares of common stock outstanding.

Decoy Therapeutics is a biotechnology company pioneering Designable Multi-Antivirals (D-MAVs), a new category of antivirals engineered to target shared viral mechanisms, enabling a single, adaptable drug to work across many viruses. Built on the proprietary IMP³ACT platform, which combines AI-enabled design and rapid synthesis, Decoy develops peptide antivirals designed to move faster toward the clinic and expand what is possible in viral prevention and treatment. The Company's lead candidates target many respiratory viruses, addressing the health and societal burden of viral disease.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Decoy, including expected achievement of milestones for its lead asset and future prospects of Decoy. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Decoy, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “can,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the risk that the Company will not obtain sufficient financing to execute on their business plans and risks related to Decoy’s products and development plans, including unanticipated issues with any IND application process and the potential of the IMP³ACT platform. Readers are urged to carefully review and consider the various disclosures made by the Company in its reports filed with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as revised or supplemented by its Quarterly Reports on Form 10-Q and other documents filed with the SEC. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, Decoy’s actual results may vary materially from those expected or projected.