$MAIA
MAIA Biotechnology, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024094747 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.521M $1.763M
YoY Change -35.43% -14.64%
% of Gross Profit
Research & Development $2.667M $2.052M
YoY Change 2.6% -21.05%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.188M $3.815M
YoY Change -15.48% -18.21%
Operating Profit -$4.188M -$3.815M
YoY Change -15.48% -18.21%
Interest Expense $85.00 $88.38K
YoY Change 8400.0% 5053.35%
% of Operating Profit
Other Income/Expense, Net $1.346M -$5.152M
YoY Change 1656.89% -3713.94%
Pretax Income -$2.736M -$8.879M
YoY Change -43.89% 96.29%
Income Tax
% Of Pretax Income
Net Earnings -$2.736M -$8.879M
YoY Change -43.89% 96.29%
Net Earnings / Revenue
Basic Earnings Per Share -$0.11 -$0.40
Diluted Earnings Per Share -$0.11 -$0.40
COMMON SHARES
Basic Shares Outstanding 23.91M 21.84M
Diluted Shares Outstanding 23.89M 22.20M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.691M $11.58M
YoY Change 42.36% 26.6%
Cash & Equivalents $0.00 $0.00
Short-Term Investments
Other Short-Term Assets $495.7K $259.7K
YoY Change 19.69% 6.74%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $9.240M $12.02M
YoY Change 39.3% 22.92%
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 $2.800K
YoY Change -99.24% -99.43%
TOTAL ASSETS
Total Short-Term Assets $9.240M $12.02M
Total Long-Term Assets $2.800K $2.800K
Total Assets $9.243M $12.02M
YoY Change 32.02% 17.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.152M $1.264M
YoY Change -6.04% -18.42%
Accrued Expenses $2.457M $2.247M
YoY Change -15.97% 30.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.609M $3.511M
YoY Change -13.04% 7.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.015M $5.347M
YoY Change 3782.94% 4296.91%
Total Long-Term Liabilities $4.015M $5.347M
YoY Change 3782.94% 4296.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.609M $3.511M
Total Long-Term Liabilities $4.015M $5.347M
Total Liabilities $7.624M $8.858M
YoY Change 79.25% 160.95%
SHAREHOLDERS EQUITY
Retained Earnings -$83.66M -$80.93M
YoY Change 44.94% 53.13%
Common Stock $2.397K $2.374K
YoY Change 74.07% 73.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.619M $3.162M
YoY Change
Total Liabilities & Shareholders Equity $9.243M $12.02M
YoY Change 32.02% 17.05%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$2.736M -$8.879M
YoY Change -43.89% 96.29%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$3.525M -$4.685M
YoY Change 11.64% 82.95%
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 626.8K 7.987M
YoY Change 397.71% 93.89%
NET CHANGE
Cash From Operating Activities -3.525M -4.685M
Cash From Investing Activities
Cash From Financing Activities 626.8K 7.987M
Net Change In Cash -2.898M 3.303M
YoY Change -4.4% 111.85%
FREE CASH FLOW
Cash From Operating Activities -$3.525M -$4.685M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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maia Warrants Issued To Underwriters In Connection With The Follow On Offering
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dei Entity Incorporation State Country Code
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DE
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2018-08-03
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2024Q2 us-gaap Cash
Cash
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CY2024Q2 maia Working Capital
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us-gaap Use Of Estimates
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<p style="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;min-width:fit-content;">Use of Estimates</span></p><p style="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-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 the Company’s common stock, par value $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.0001</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share (the “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>
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
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CY2024Q2 us-gaap Accrued Bonuses Current
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448443
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77942
CY2024Q2 maia Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
991260
CY2023Q4 maia Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
998838
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AccruedSeveranceCurrent
404834
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824435
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2023Q4 us-gaap Other Accrued Liabilities Current
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CY2024Q2 us-gaap Accrued Liabilities Current
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CY2023Q4 us-gaap Accrued Liabilities Current
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3298607
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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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
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2027-07-27
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2023Q4 maia Class Of Warrants Weighted Average Exercise Price
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maia Class Of Warrants Issued
ClassOfWarrantsIssued
2949169
maia Class Of Warrants Weighted Average Exercise Price Issued
ClassOfWarrantsWeightedAverageExercisePriceIssued
1.65
maia Class Of Warrants Exercised
ClassOfWarrantsExercised
1157201
maia Class Of Warrants Weighted Average Exercise Price Exercised
ClassOfWarrantsWeightedAverageExercisePriceExercised
-1.98
maia Class Of Warrants Expired
ClassOfWarrantsExpired
0
maia Class Of Warrants Weighted Average Exercise Price Expired
ClassOfWarrantsWeightedAverageExercisePriceExpired
0
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
5442246
CY2024Q2 maia Class Of Warrants Weighted Average Exercise Price
ClassOfWarrantsWeightedAverageExercisePrice
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maia Class Of Warrants Weighted Average Remaining Contractual Term
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P4Y10M13D
maia Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Percentage Of Shares Granted
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.53
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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2.43
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11601885
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6657826
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.32
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y7M20D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9253514
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
413948
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
618932
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
763913
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1156453
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
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CY2024Q2 maia Rule10 B51 Arrmodifiedflag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q2 maia Non Rule10 B51 Arr Modified Flag
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CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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