Decoy Therapeutics Inc.
DCOYHIGH VELOCITYFILING INTENSITYDecoy Therapeutics Inc. reads as High Velocity (composite 70/100); pressure / disclosure signals dominate the posture this cycle · primary market Healthcare.
Lens
Disclosed M&A capital (2023–2025)
N/A
vs N/A in 2020–2022
Disclosed transactions
N/A
0/3 active fiscal years in window
Buyer archetype
Selective Buyer
Acquisition use is visible but targeted.
Composite score
70
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $3M disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 32d
- 168 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 14 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 14 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 14 activism filings
- Latest activism 2.6y ago; discounted
Distress Watch
Issuers showing financial-distress filing patterns
- 14 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
- 1 auditor change
- Latest event 6.9y ago; heavily discounted
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 168 8-Ks
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Market cap $3M
- 10-Q 32d ago
- 3 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $2M · Peak count: 1
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | N/A | N/A | N/A | N/A |
| 2024 | N/A | N/A | N/A | N/A |
| 2023 | N/A | N/A | N/A | N/A |
| 2022 | 1 | $2M | $2M | N/A |
| 2021 | 1 | $2M | $2M | N/A |
| 2020 | N/A | N/A | N/A | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Technology Acquisition100%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- technology_acquisition
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“In addition, because FET-translocated sarcomas are orphan diseases, many of the regulatory incentives for pursuing Ewing sarcoma may also apply to FET-translocated sarcomas.”
“Development of SP-2577 in FET-translocated sarcomas provides us with additional paths to SP-2577's approval.”
“Motor Neuron Disease and ALS Clinical Trials. In 2016, we began enrolling an exploratory clinical trial of FLX-787, formulated as an ODT, in ALS patients in Australia. The trial was a randomized, blinded, placebo-controlled Phase 2 clinical trial that originally planned to enroll up to 60 subjects with ALS or PLS, with frequent muscle cramps. This trial included a 14-day run-in period with no treatment to establish baseline characteristics, followed by 14-day treatment periods during which patients received FLX-787 or placebo control, in the first treatment period before “crossing-over” to the other treatment for an additional 14-day treatment period. Patients were given 19 mg of FLX-787, or placebo control, two or three times daily. The exploratory trial was designed to evaluate a number of endpoints relating to cramping including cramp frequency, cramp-associated pain, spasticity, stiffness, global impression of change by the patient and the clinician, quality of life, sleep, as well as and safety and tolerability. We elected to terminate this trial early in order to focus our efforts on the COMMEND trial, our larger Phase 2 trial ongoing in the United States.”
“milestone payments upon the occurrence of certain events”
“we acquired targeted protein development portfolio”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Healthcare
- Market spend (2023–2025)
- $195B
- Market spend (2020–2022)
- $253.6B
- Recent vs prior
- −23%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
DCOY trades at a -12.6-turn discount to the Healthcare peer median of 12.9×.
- EV / Revenue
- N/A
- Net debt / EBITDA
- N/A
- Peer median EV / EBITDA
- 12.9×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
AbbVie Inc.ABBV | 23.4× | 6.7× | 3.1× | $62.8B | $18B |
| 17.2× | 0.9× | 1.9× | $449.7B | $28.1B | |
Amgen Inc.AMGN | 12.9× | 6.0× | 2.6× | $37.2B | $26.7B |
| 11.7× | 0.5× | 2.5× | $200.4B | $6.4B | |
| 9.3× | 1.9× | 2.8× | $76.4B | $1.3B | |
Decoy Therapeutics Inc.DCOY | 0.4× | N/A | N/A | N/A | N/A |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Healthcare. Bars scaled to the highest EV/EBITDA in the set.
Buyer landscape.
Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.
Likely buyers
No public buyers surface as a strong target-side fit on current signal.
Likely sellers / divestiture partners
No reciprocal divestiture / strategic-alternatives matches identified.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)152026-04-30
- 10-Q (quarterly)352026-05-08
- 8-K (event)1682026-04-02
- Proxy / DEF 14A262026-01-09
- Activism (13D / DFAN / PREC)142023-10-27
Signals on file
- elevated
Auditor change
2019-07-241 Item 4.01 filing on file; certifying accountant change.
- elevated
Activism on file
2023-10-2714 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Restatement risk
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.