$MAIA
MAIA Biotechnology, Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023059778 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.660M $2.356M
YoY Change 47.67% 42.53%
% of Gross Profit
Research & Development $3.717M $2.600M
YoY Change 55.32% 10.94%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $6.378M $4.956M
YoY Change 52.03% 111.49%
Operating Profit -$4.956M
YoY Change 24.01%
Interest Expense $30.72K $1.00
YoY Change -778.15% -99.94%
% of Operating Profit
Other Income/Expense, Net $90.46K $76.64K
YoY Change 68.14% 17.71%
Pretax Income -$6.257M -$4.876M
YoY Change 50.92% 23.99%
Income Tax
% Of Pretax Income
Net Earnings -$6.257M -$4.876M
YoY Change 50.92% 23.99%
Net Earnings / Revenue
Basic Earnings Per Share -$0.36
Diluted Earnings Per Share -$0.40 -$0.36
COMMON SHARES
Basic Shares Outstanding 14.21M 13.63M
Diluted Shares Outstanding 13.68M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.151M $6.105M
YoY Change -34.7% -56.59%
Cash & Equivalents $0.00 $0.00
Short-Term Investments
Other Short-Term Assets $268.7K $414.1K
YoY Change -51.53% -10.15%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $7.564M $6.633M
YoY Change -35.94% -55.12%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.800K $2.800K
YoY Change 0.0% 0.0%
Total Long-Term Assets $2.800K $367.9K
YoY Change -98.69% 13040.71%
TOTAL ASSETS
Total Short-Term Assets $7.564M $6.633M
Total Long-Term Assets $2.800K $367.9K
Total Assets $7.567M $7.001M
YoY Change -37.06% -52.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.639M $1.226M
YoY Change 40.59% 20.31%
Accrued Expenses $3.299M $2.924M
YoY Change 56.82% 103.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.937M $4.150M
YoY Change 51.03% 68.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.152M $103.4K
YoY Change 777.23% -52.06%
Total Long-Term Liabilities $2.152M $103.4K
YoY Change 777.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.937M $4.150M
Total Long-Term Liabilities $2.152M $103.4K
Total Liabilities $7.089M $4.253M
YoY Change 101.73% 73.16%
SHAREHOLDERS EQUITY
Retained Earnings -$63.98M -$57.72M
YoY Change 44.73% 47.67%
Common Stock $1.699K $1.377K
YoY Change 55.02% 25.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $477.5K $2.748M
YoY Change
Total Liabilities & Shareholders Equity $7.567M $7.001M
YoY Change -37.06% -52.64%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$6.257M -$4.876M
YoY Change 50.92% 23.99%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$3.992M -$3.157M
YoY Change 59.1% -26.9%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.025M 125.9K
YoY Change -893.56% -98.77%
NET CHANGE
Cash From Operating Activities -3.992M -3.157M
Cash From Investing Activities
Cash From Financing Activities 5.025M 125.9K
Net Change In Cash 1.033M -3.031M
YoY Change -132.87% -151.03%
FREE CASH FLOW
Cash From Operating Activities -$3.992M -$3.157M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
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us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
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maia Payment Of Initial Public Offering Transaction Costs
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maia Proceeds From Sale Of Common Stock In Follow On Offering
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maia Payment Of Follow On Offering Transactions Costs
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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maia Previously Paid Issuance Costs In Connection With The Initial Public Offering
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maia Warrants Issued To Underwriters In Connection With The Initial Public Offering
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maia Options Issued For Accrued Bonus
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maia Warrants Issued To Underwriters In Connection With The Follow On Offering
WarrantsIssuedToUnderwritersInConnectionWithTheFollowOnOffering
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dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2018-08-03
us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
minority stockholder of THIO received one share of MAIA common stock for each share of THIO common stock owned prior to the merger.
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q3 us-gaap Cash
Cash
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CY2023Q3 maia Working Capital
WorkingCapital
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us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the Company’s unaudited interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The most significant estimates in the Company’s financial statements relate to the valuation of common stock, stock options and warrants, the embedded features in convertible notes, and accruals for outsourced research and development activities. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.</span></p>
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0
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CashAndCashEquivalentsAtCarryingValue
0
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1094582
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659111
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332589
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1035481
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516961
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
409971
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
159269
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2923853
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2103401
CY2023Q2 maia Issuance Of Stock Options To Settle Accrued Bonus Balance
IssuanceOfStockOptionsToSettleAccruedBonusBalance
511225
CY2023Q2 maia Fair Value Of Stock Options Issued To Settle Accrued Bonus Balance
FairValueOfStockOptionsIssuedToSettleAccruedBonusBalance
974224
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
70000000
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
30000000
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2373561
CY2022Q1 maia Transaction Costs
TransactionCosts
0
CY2022Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
99999
CY2022Q2 maia Transaction Costs
TransactionCosts
0
CY2022Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
9
CY2022Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9093830
CY2022Q2 maia Warrants Exercised Shares
WarrantsExercisedShares
394501
CY2022Q2 maia Cashless Exercise At Fair Market Value Per Share
CashlessExerciseAtFairMarketValuePerShare
9
CY2022Q2 maia Issuance Of Common Shares Upon Cashless Exercise Of Warrants Shares
IssuanceOfCommonSharesUponCashlessExerciseOfWarrantsShares
315601
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
6.25
CY2022Q3 us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
2023-01-23
CY2022Q3 maia Class Of Warrant Or Right Date From Which Warrants Or Rights Expire
ClassOfWarrantOrRightDateFromWhichWarrantsOrRightsExpire
2027-07-27
CY2023Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
103407
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
245341
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
796985
CY2022Q4 maia Class Of Warrants Weighted Average Exercise Price
ClassOfWarrantsWeightedAverageExercisePrice
6.04
CY2022 maia Class Of Warrants Weighted Average Remaining Contractual Term
ClassOfWarrantsWeightedAverageRemainingContractualTerm
P5Y1M28D
maia Class Of Warrants Issued
ClassOfWarrantsIssued
127775
maia Class Of Warrants Weighted Average Exercise Price Issued
ClassOfWarrantsWeightedAverageExercisePriceIssued
2.81
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
924760
CY2023Q3 maia Class Of Warrants Weighted Average Exercise Price
ClassOfWarrantsWeightedAverageExercisePrice
5.59
maia Class Of Warrants Weighted Average Remaining Contractual Term
ClassOfWarrantsWeightedAverageRemainingContractualTerm
P4Y5M4D
maia Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Percentage Of Shares Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsPercentageOfSharesGranted
0.10
maia Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price Percentage
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePricePercentage
1.10
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6545628
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.55
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M2D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.12
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
750
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.91
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
83023
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.92
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7860736
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.62
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M7D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2130148
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6623957
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.36
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y3M
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2068490
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
570916
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
532438
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1727369
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1830536
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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