MAIA Biotechnology, Inc.
MAIAHealthcare|Biotechnology|US
$1.06
+0.02 (+1.92%)
DCF Value
$269.53
Tangible Book / Share
$0.34
Cash / Share
$0.45
Financials
Financial Snapshot
Market Cap
$65.4M
Enterprise Value
$37.9M
Revenue (TTM)
$0.00
Net Income (TTM)
-$26.8M
Cash & Investments
$27.6M
Net Cash
$27.6M
Free Cash Flow (TTM)
-$22.6M
Operating CF (TTM)
-$22.6M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$27.6M
Quarterly Burn
$5.6M
Monthly Burn
$1.9M
Est. Runway
~4.9 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $1.7M | $663.5K | $10.6M | $11.0M | $7.2M | $9.6M | $8.66B | $27.6M | |
| Operating Cash Flow | -$1.6M | -$1.8M | -$4.1M | -$12.1M | -$13.1M | -$15.7M | -$18.8M | -$22.6M | |
| Free Cash Flow | -$1.6M | -$1.8M | -$4.1M | -$12.1M | -$13.1M | -$15.7M | -$18.8M | -$22.6M | |
| Capital Expenditure | $2.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $2.2M | $798.1K | $14.0M | $12.5M | $9.3M | $18.2M | $17.9M | $40.0M |
R&D Spending
R&D (TTM)
$17.4M
R&D Intensity
—
R&D Growth vs Prior
-99.9%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $1.9M | $1.4M | $3.5M | $8.9M | $11.1M | $10.0M | $14.55B | $17.4M | |
| SG&A | $5.0M | $5.6M | $4.3M | $6.1M | $9.1M | $6.9M | $9.72B | $11.5M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $1.9M | $1.4M | $3.5M | $8.9M | $11.1M | $10.0M | $14.55B | $17.4M | |
| SG&A | $5.0M | $5.6M | $4.3M | $6.1M | $9.1M | $6.9M | $9.72B | $11.5M | |
| Operating Income | -$6.9M | -$7.0M | -$7.8M | -$16.2M | -$20.2M | -$17.0M | -$24.3M | -$28.9M | |
| Interest Expense | — | $31.5K | $827.5K | $7.0K | $0.00 | $57.00 | $0.00 | $0.00 | |
| Pretax Income | -$6.9M | -$7.0M | -$12.6M | -$15.8M | -$19.8M | -$23.3M | -$22.4M | -$26.5M | |
| Net Income | -$6.5M | -$6.6M | -$12.5M | -$15.8M | -$19.8M | -$23.3M | -$22.4M | -$26.8M | |
| EPS (Diluted) | -0.61 | -0.62 | -1.18 | -1.70 | -1.49 | -1.05 | -0.70 | -0.63 | |
| EBITDA | $0.00 | $0.00 | -$11.8M | -$15.8M | -$19.8M | -$23.3M | -$22.4M | -$17.1M | |
| Shares Out. (M) | 10.64 | 10.64 | 10.64 | 9.28 | 13.26 | 22.20 | 32.12 | 60.79 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.7M | $663.5K | $10.6M | $11.0M | $7.2M | $9.6M | $8.66B | $27.6M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $1.7M | $746.5K | $10.7M | $11.8M | $7.6M | $10.2M | $9.7M | $28.2M | |
| Total Assets | $1.7M | $746.5K | $11.3M | $12.0M | $7.6M | $10.2M | $9.7M | $28.2M | |
| Total Current Liabilities | $374.6K | $1.7M | $2.1M | $3.3M | $4.9M | $3.8M | $5.8M | $6.3M | |
| Long-Term Debt | $9.2K | $431.8K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $409.7K | $2.4M | $2.1M | $3.5M | $7.1M | $6.5M | $7.3M | $7.6M | |
| Stockholders' Equity | -$172.9K | -$3.3M | $9.2M | $8.5M | $477.5K | $3.6M | $2.4M | $20.7M | |
| Retained Earnings | -$9.3M | -$15.9M | -$28.4M | -$44.2M | -$64.0M | -$87.2M | -$109.6M | -$123.9M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.6M | -$1.8M | -$4.1M | -$12.1M | -$13.1M | -$15.7M | -$18.8M | -$22.6M | |
| Capital Expenditure | $2.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$1.6M | -$1.8M | -$4.1M | -$12.1M | -$13.1M | -$15.7M | -$18.8M | -$22.6M | |
| Investing Cash Flow | $187.6K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $2.2M | $798.1K | $14.0M | $12.5M | $9.3M | $18.2M | $17.9M | $40.0M | |
| Issuance of Stock | $2.1M | $50.0K | $5.7M | $14.0M | $11.4M | $18.8M | $18.5M | $42.3M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $10.0K | $668.9K | $7.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $3.9M | $2.7M | $2.3M | $3.1M | $1.9M | $2.6M | $2.8M | |
| Net Change in Cash | $1.7M | -$1.0M | $9.9M | $376.6K | -$3.8M | $2.5M | -$943.3K | $17.5M |
Dilution Tracker
Shares outstanding grew 201.9% over 5 years — significant dilution
Shares Outstanding
62M
5-Year Share Growth
+201.9%
Stock Issuance (TTM)
$42.3M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 10.64 | 10.64 | 10.64 | 9.28 | 13.26 | 22.20 | 32.12 | 60.79 | |
| Change vs Prior % | — | 0.0% | -0.0% | -12.8% | 43.0% | 67.4% | 44.7% | 89.3% | |
| Stock Issuance | $2.1M | $50.0K | $5.7M | $14.0M | $11.4M | $18.8M | $18.5M | $42.3M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $3.9M | $2.7M | $2.3M | $3.1M | $1.9M | $2.6M | $2.8M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| ROE % | 3755.9% | 198.9% | -136.2% | -185.4% | -4140.8% | -639.8% | -942.7% | -211.1% | |
| ROA % | -374.3% | -889.0% | -110.4% | -131.2% | -261.3% | -229.0% | -230.8% | -95.1% | |
| ROIC % | -499.7% | 762.1% | -84.8% | -184.8% | -767.5% | -268.1% | -627.4% | -131.7% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | -0.8% | -11.6% | -107.7% | -24.8% | 16.0% | -43.1% | |
| Net Income | 0.0% | -2.2% | -88.4% | -26.1% | -25.4% | -17.6% | 3.7% | |
| EPS (Diluted) | 0.0% | -1.6% | -90.3% | -44.1% | 12.4% | 29.5% | 33.3% | |
| Operating Cash Flow | 0.0% | -17.8% | -123.6% | -193.4% | -8.1% | -20.1% | -20.0% | |
| Free Cash Flow | 0.0% | -17.8% | -123.6% | -193.4% | -8.1% | -20.1% | -20.0% | |
| R&D Expense | 0.0% | -26.1% | 144.5% | 158.7% | 24.4% | -9.9% | 145239.2% | |
| SG&A Expense | 0.0% | 11.1% | -22.9% | 43.2% | 47.6% | -23.4% | 139830.6% | |
| Total Assets | 0.0% | -57.0% | 1417.4% | 6.1% | -37.1% | 34.2% | -4.4% | |
| Book Value / Share | 0.0% | -222.0% | 668.0% | 6.2% | -96.1% | 354.8% | -54.8% | |
| Debt | 0.0% | 1257.1% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Diluted Shares | 0.0% | 0.0% | -0.0% | -12.8% | 43.0% | 67.4% | 44.7% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B3.12
10Y Low / Med / High3.83 / 12.09 / 32.49
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$269.53
Tangible Book / Share
$0.34
Net Current Assets / Share
$0.33
Graham Net-Net
$0.33
Cash / Share
$0.45
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -7.31 | -7.19 | -3.78 | -2.06 | -0.79 | -1.89 | -2.19 | -1.67 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -274.41 | -14.22 | 5.17 | 3.83 | 32.49 | 12.09 | 20.68 | 3.12 | |
| EV/EBITDA | 0.00 | 0.00 | -3.14 | -1.37 | -0.42 | -1.48 | 384.39 | -2.21 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-3.11
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $65.0M | $66.3M | $402.1M |
| Net Income | -$17.3M | $35.6M | $0.00 |
| EPS | $-0.54 | $1.11 | $0.00 |
| # Analysts (EPS) | 1 | 1 | 0 |