MAIA Biotechnology (MAIA) Q2 2026 earnings summary

Executive summary

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

• Achieved key milestones: $33M capital raise, U.S. clinical site activations, and positive interim efficacy data in Phase 2/3 trials.

• Ongoing pivotal Phase 3 and expanded Phase 2 trials for ateganosine in NSCLC, with additional trials planned for HCC, CRC, and SCLC.

Financial highlights

• Cash as of June 30, 2026: $27.6M, up from $8.7M at December 31, 2025, driven by equity offerings.

• Net loss for Q2 2026: $7.94M (vs. $5.35M Q2 2025); net loss for six months: $14.31M (vs. $9.86M prior year period).

• Operating expenses for Q2 2026: $8.32M, up 61% year-over-year; six months: $15.27M, up 44%.

• Research and development expenses rose 81% in Q2 and 45% for six months, reflecting increased clinical activity.

• General and administrative expenses increased 30% in Q2 and 42% for six months, mainly due to investor relations, payroll, and professional fees.

• Other income (net) for six months: $954K, up 31% year-over-year, driven by grant income and interest.

Outlook and guidance

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

• Plans to seek accelerated approval for ateganosine in the U.S. in 2026, with potential for early full commercial approval in 2027.

• Additional Phase 2 trials in HCC, CRC, and SCLC planned for 2026.

• Continued expansion of clinical sites in the U.S. and internationally.