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CHICAGO, May 23, 2025 – MAIA Biotechnology, Inc., a pharmaceutical company with a market capitalization of $54.25 million, has announced a significant amendment to its corporate structure, effectively doubling its authorized common stock. On Thursday, May 22, 2025, the company’s stockholders approved a change to the Amended and Restated Certificate of Incorporation, increasing the authorized common stock from 70 million shares to 150 million shares. The stock, currently trading at $1.77, has experienced a challenging year with a 53% decline over the past 12 months.
Following the stockholders’ approval, MAIA Biotechnology filed a Certificate of Amendment with the Delaware Secretary of State to enact the increase in authorized common stock. The move comes as the company, known for its pharmaceutical preparations, continues to navigate the competitive landscape of the biotechnology industry. According to InvestingPro data, MAIA maintains a healthy liquidity position with a current ratio of 2.35, indicating its ability to meet short-term obligations.
This strategic amendment could potentially provide MAIA Biotechnology with the flexibility for future corporate endeavors, including but not limited to, fundraising activities, stock-based compensation, and other business opportunities that may require the issuance of additional shares.
The details of the amendment are disclosed in the company’s latest 8-K filing with the SEC, which includes the full text of the Amendment as Exhibit 3.1. MAIA Biotechnology, which is registered in Delaware and based in Chicago, IL, trades on the NYSE American under the ticker MAIA. The company is also identified as an emerging growth company, indicating its potential for rapid growth and development in its sector.
This announcement is based on the information provided in the company’s SEC filing.
In other recent news, MAIA Biotechnology has announced a private placement deal raising approximately $1.08 million to support the Phase II trial for their lead program, THIO-101, targeting non-small cell lung cancer. The funds will also enhance the company’s working capital. Additionally, MAIA has revised its stock offering from $30 million to $11.2 million, according to a filing with the Securities and Exchange Commission. This adjustment reflects the company’s ongoing efforts to manage its financial resources effectively.
MAIA is also targeting 2026 for FDA approval of its cancer drug, ateganosine, with plans to file for accelerated approval. Recent preclinical data published by the company highlights the potential of a compound, the THIO dimer, to improve cancer treatment efficacy by targeting an enzyme linked to drug resistance. The USAN Council has approved "ateganosine" as the generic name for MAIA’s leading cancer drug candidate, THIO, marking a significant milestone in its clinical trials. MAIA’s CEO, Dr. Vlad Vitoc, emphasized the importance of this naming approval for communication among healthcare providers and researchers.
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