MAIA Biotechnology, Inc. (NYSE:MAIA) has announced encouraging interim results from its Phase 2 THIO-101 trial, evaluating THIO in combination with Regeneron's cemiplimab for treating advanced non-small cell lung cancer (NSCLC). The data suggests a potential survival benefit, particularly in third-line treatment patients, and coincides with a recent purchase of company shares by a MAIA Biotechnology director.
The THIO-101 trial assesses the efficacy and safety of THIO, MAIA's lead clinical candidate, alongside cemiplimab, an immune checkpoint inhibitor. Interim results revealed that 16 patients surpassed a 12-month survival follow-up, including nine patients receiving third-line treatment. For these third-line patients, the interim median survival follow-up is reported at 10.6 months, compared to the standard-of-care overall survival of 5.8 months.
In April 2024, MAIA Biotechnology reported an overall response rate of 38%, a disease control rate of 88%, and a median progression-free survival of 5.5 months for third-line treatment with THIO and cemiplimab. The trial continues to monitor the safety and clinical efficacy of THIO, which has been generally well-tolerated in a heavily pre-treated patient population. Full efficacy results from the THIO-101 trial are expected later this year.
Director's Share Purchase
Adding to the positive developments, Cristian Luput, a director at MAIA Biotechnology, recently acquired 22,133 shares of common stock at $2.51 each, totaling $55,553. This purchase increases Luput's total holdings to 389,483 shares. Luput also acquired warrants for an equal number of shares at $2.259 per share, exercisable starting May 1, 2025. These transactions, conducted under the company's 2021 Equity Incentive Plan, reflect Luput's ongoing investment in MAIA Biotechnology.
Financial Overview
MAIA Biotechnology's market capitalization stands at $65.91 million. The company has seen a 9.56% price total return over the last week, potentially influenced by insider transactions. While MAIA is not currently profitable, with an operating income of -$19.1 million for the last twelve months as of Q2 2024, it holds more cash than debt on its balance sheet, providing financial flexibility for its pharmaceutical pipeline development. The company's liquid assets also exceed its short-term obligations.
