Stan Smith, a director at MAIA Biotechnology, Inc. (NYSE:MAIA), has recently acquired a significant amount of the company's stock. According to a recent SEC filing, Smith purchased 25,000 shares of common stock on December 13, 2024, at a price of $1.872 per share, totaling approximately $46,800. This acquisition was made through The Stan V. Smith Trust Dated 1993, as noted in the filing. The purchase comes as MAIA's stock has shown strong performance, with a 139% gain over the past year, according to InvestingPro data.
In addition to the common stock acquisition, Smith also acquired 25,000 warrants at the same time. These warrants, purchased at a price of $2.08 per share, are exercisable starting June 13, 2025, and expire five years later. These transactions were executed under a Securities Purchase Agreement and are part of the Issuer's 2021 Equity Incentive Plan. With analyst price targets ranging from $11.25 to $14.00, InvestingPro subscribers can access 8 additional key insights about MAIA's financial health and market position.
The transactions reflect Smith's continued involvement and investment in MAIA Biotechnology, a company focused on pharmaceutical preparations. The company maintains a healthy liquidity position with a current ratio of 2.56, indicating strong ability to meet short-term obligations.
In other recent news, MAIA Biotechnology, Inc. has expanded its Phase 2 clinical trial, THIO-101, to further evaluate the efficacy of its lead drug candidate THIO in combination with Regeneron (NASDAQ:REGN)'s Libtayo® for the treatment of third-line non-small cell lung cancer (NSCLC) patients. The expansion comes after promising interim results from the trial, with 16 patients surpassing a 12-month survival follow-up, nine of whom were third-line treatment patients. MAIA maintains a strong liquidity position, ensuring the continuation of its ongoing clinical trials.
The amended clinical supply agreement with Regeneron, initially established in 2021, will provide an additional supply of Libtayo® for the expanded trial. MAIA sponsors the trial and holds an exclusive worldwide patent license to develop and commercialize THIO. The trial is designed to enhance and prolong immune response in advanced NSCLC patients who have not responded or have developed resistance to first-line checkpoint inhibitors.
The company is considering an accelerated approval pathway in the United States based on the trial's outcomes. Analysts suggest the company remains undervalued relative to its Fair Value, despite an impressive year-to-date gain. MAIA anticipates releasing full efficacy results from the trial within the current year.
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