The effectiveness opens the door for the selling stockholder to begin selling shares immediately. Given the large relative size of the registered shares (~99% of current float), monitor for any Form 4 filings or volume spikes indicating the selling stockholder is executing sales, which could pressure the stock price.
Price Chart
Executive Summary
The SEC declared effective the S-1 registration statement (File No. 333-299353) for Decoy Therapeutics Inc. on October 16, 2026. This effectiveness allows a selling stockholder to resell up to 2,368,868 shares of common stock issuable upon exercise of New Warrants issued in a September 2026 private placement. The company will not receive any proceeds from the resale but may receive cash exercise proceeds from the warrants.
Key Facts
- Effectiveness date: October 16, 2026
- Registration covers up to 2,368,868 shares of common stock for resale by a selling stockholder
- Shares are issuable upon exercise of New Warrants issued in a September 23, 2026 private placement
- Company receives no proceeds from the resale; only potential cash exercise proceeds from warrant exercises
- As of October 6, 2026, the stock price was $1.55 per share and there were 2,385,282 shares outstanding
- Cash, cash equivalents and restricted cash as of September 30, 2026 was approximately $8.0 million, with $2.5 million restricted under a Gates Foundation Grant Agreement
Financial Impact
Up to 2,368,868 shares (approximately 99% of current outstanding shares) could be sold into the market, creating potential dilution overhang. At $1.55/share, the potential market value of the registered shares is approximately $3.67 million.
Risk Factors
- Potential near-term selling pressure from the selling stockholder reselling up to 2.37 million shares
- Dilution overhang may weigh on the stock until the selling stockholder's position is reduced or the warrants are exercised
- Low cash balance ($8.0M, with $2.5M restricted) limits financial flexibility
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| EFFECT Filing (Primary) | 9999999995-26-003278 |
| Document: 9999999995-26-003278-index.html | 9999999995-26-003278 |
| Document: 9999999995-26-003278.txt | 9999999995-26-003278 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | EFFECT | $1.17 $0.9100 | ▼ −22.22% | ▼ −22.08% | $0.9200 (−21.37%) |
Oct 7, 2026 19d ago | S-1 | $1.52 $1.23 | ▲ +19.08% | ▲ +18.80% | $0.9200 (+39.47%) |
Sep 23, 2026 4w ago | 8-K | $3.11 $1.86 | ▲ +40.35% | ▲ +39.94% | $0.9200 (+70.42%) |
Aug 4, 2026 11w ago | DEFA14A | $4.19 $3.60 | ▼ −14.08% | ▼ −14.43% | $0.9200 (−78.04%) |
Jul 20, 2026 14w ago | EFFECT | $5.31 $3.74 | ▼ −29.50% | ▼ −29.10% | $0.9200 (−82.66%) |
Jun 29, 2026 17w ago | 8-K | $9.59 $7.25 | ▲ +24.40% | ▲ +25.79% | $0.9200 (+90.41%) |
Jun 25, 2026 17w ago | EFFECT | $5.92 $7.62 | ▲ +28.76% | ▲ +27.20% | $0.9200 (−84.45%) |
Jun 4, 2026 20w ago | DEFA14A | $6.71 $5.90 | ▼ −12.07% | ▼ −9.52% | $0.9200 (−86.29%) |
Apr 30, 2026 25w ago | 10-K/A | $6.05 $6.01 | ▼ −0.66% | ▼ −2.39% | $0.9200 (−84.79%) |
Apr 2, 2026 29w ago | 8-K | $5.80 $5.84 | ▲ +0.69% | ▼ −2.93% | $0.9200 (−84.14%) |
US Market Status
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