MAIA Biotechnology (MAIA) Q1 2026 earnings summary

Executive summary

• Clinical-stage biopharma focused on immunotherapies for cancer, with lead asset ateganosine (THIO) targeting NSCLC and other solid tumors.

• Key milestones: $33M raised in March 2026 public offering, expansion of Phase 2/3 trials, and first U.S. clinical site activated for THIO-101.

• Ongoing partnerships with Regeneron, BeOne, and Roche for clinical trials in multiple cancer indications.

Financial highlights

• Cash increased to $34.4M as of March 31, 2026, from $8.7M at December 31, 2025, due to equity financing.

• Net loss for Q1 2026 was $6.37M, up 41% year-over-year from $4.52M in Q1 2025.

• Operating expenses rose 28% year-over-year, driven by higher R&D and G&A costs.

• No revenue recognized; company remains pre-commercial.

Outlook and guidance

• Net proceeds from March 2026 offering expected to fully fund ongoing pivotal Phase 3 trial for ateganosine in NSCLC.

• Plans to initiate Phase 2 trials in HCC, CRC, and SCLC in 2026 and continue expansion into additional solid tumor indications.

• Additional capital will be required for future operations and commercialization.