MAIA Biotechnology is making strides in its Phase 2 THIO-101 trial, evaluating THIO in combination with Regeneron's cemiplimab for advanced non-small cell lung cancer. Interim results indicate a significant survival benefit, with 16 patients surpassing a 12-month survival follow-up. In a parallel development, MAIA Biotechnology director Steven M. Chaouki recently increased his stake in the company, purchasing 22,133 shares of common stock.
THIO-101 Trial Results
The THIO-101 trial's interim results highlight the potential of THIO, a first-in-class investigational telomere-targeting agent. Specifically, nine third-line treatment patients have shown promising outcomes. The median overall survival reported is 10.6 months, a notable improvement compared to the standard-of-care overall survival of 5.8 months for this patient population. The trial data also reveals 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.
MAIA Biotechnology anticipates releasing full efficacy results from the THIO-101 trial later this year. These results could position THIO as a valuable new treatment option for individuals with advanced lung cancer who have limited alternatives.
Director's Share Purchase
Adding to the positive momentum, Steven M. Chaouki, a director at MAIA Biotechnology, Inc. (NASDAQ:MAIA), acquired 22,133 shares of MAIA common stock on November 1, 2024, at a price of $2.51 per share, totaling $55,553. This transaction was executed under a Securities Purchase Agreement and issued as part of the company's 2021 Equity Incentive Plan. Following this transaction, Chaouki holds 111,024 shares in the company. Chaouki also acquired warrants for the same number of shares, priced at $2.259 per share, exercisable on May 1, 2025, and expiring five years later.
Financial Context
MAIA Biotechnology's recent financial data, as highlighted by InvestingPro, reveals a significant return of 9.56% over the last week, aligning with the timing of Chaouki's purchase. While the company faces financial challenges, including not being profitable over the last twelve months, it holds more cash than debt on its balance sheet, providing financial flexibility. The company's market capitalization stands at $65.91 million.
