MAIA Biotechnology, Inc. (MAIA), a clinical-stage immuno-oncology company, announced the pricing of its public offering of 20 million shares at a price of $1.50 per share to raise $30 million.
MAIA intends to use the net proceeds to conduct clinical trials, for working capital and general corporate purposes.
Following the news, MAIA is down 19.81% at $1.66 in the overnight market.
MAIA has granted the underwriters a 45-day option to purchase up to 3 million additional shares at the public offering price, less underwriting discounts.
The offering is expected to close on March 4, 2026.
Konik Capital Partners, LLC, a division of T.R. Winston & Company is the sole book-running manager for the offering.
The firm's lead program is Ateganosine (THIO), a cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells.
Currently, MAIA is advancing Ateganosine in a Phase 2 clinical study in Non-Small Cell Lung Cancer (NSCLC).
In preclinical in vivo models, low doses of Ateganosine, followed by anti-PD-L1 or anti-PD1 therapy, completely eliminated advanced tumours and produced cancer cell-specific immune memory, in which the immune system remained active against the cancer cells for extended periods without additional treatment, according to the firm.
For the quarter ended September 30, 2025, the firm's net loss widened to $8.90 million, or $0.37 per share, compared with $2.74 million, or $0.11 per share loss, in the prior year.
MAIA has traded between $0.87 and $3.19 in the past year. The stock closed Monday's trade at $2.07, down 8.41%.
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