Start here if you're new
what it is
MAIA is a tiny cancer drug maker testing one lead drug and two follow-ons.
how it gets paid
Last year Maia had $0 product revenue. The revenue bridge uses equal-width placeholders—do not read “25% of sales” when sales are zero.
what just happened
MAIA posted $0 revenue and -$0.62 EPS in the latest quarter.
At a glance
C++ balance sheet — some cracks in the foundation
-$1.05 fy2024 eps est
0.9 beta
~$90M market cap
small cap
xvary composite: 41/100 — below average
What they do
MAIA is a tiny cancer drug maker testing one lead drug and two follow-ons.
THIO is a telomere-targeting agent, which means it goes after the cell's chromosome caps. That is a narrow bet, not a wide moat, but it gives you 3 clinical shots instead of 1. You are backing a 13-person company with $0 revenue, so the real product is data.
How they make money
$0
annual revenue
THIO / NSCLC
$0
THIO-102 / colorectal cancer
$0
THIO-103 / basket study
$0
Corporate / other
$0
The products that matter
lead oncology program
THIO
one asset · one story
this is the program carrying a $90M company with $0 trailing revenue. if the data work, the valuation framework changes. if they do not, the framework disappears.
core thesis
balance sheet reality
cash runway
58.66M shares outstanding
the recent 20 million share offering pushed shares outstanding to 58.66M, roughly 34% higher. that tells you financing is not a footnote here.
time bought
future optionality
platform narrative
still unproven
with $0 trailing revenue, any claim that this is broader than one program is still a narrative, not a business segment.
optionality
Key numbers
$0
annual revenue
No sales means the stock trades on trial data and outside cash.
$30M
gross proceeds
The March 2026 offering bought runway, not recurring income.
13
employees
Thirteen people are running a public biotech. That is a small bet, not a broad machine.
-$1.05
FY24 EPS est
That is a $1.05 loss per share estimate, so profits are still offstage.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for MAIA right now.
source: institutional data · return history unavailable
What just happened
missed estimates
MAIA posted $0 revenue and -$0.62 EPS in the latest quarter.
EDGAR shows no sales. EPS means earnings per share, or profit per share. Here, the business is still burning cash instead of making it.
$0
revenue
-$0.62
eps
n/a
n/a
the number that mattered
$0 revenue matters most because it says the company still has no commercial engine.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is clinical readout failure for THIO. this is a pre-revenue biotech with no second earnings engine to hide behind.
med
THIO data disappoints
With $0 trailing revenue, the equity story is still the clinical story. If the lead program fails to support the thesis, MAIA does not have a mature business to absorb the hit.
This risk effectively sits on top of 100% of the current commercial value, because there is no operating revenue underneath it.
med
another financing round hits existing holders
The recent 20 million share offering already pushed shares outstanding to 58.66M, roughly 34% higher. If timelines slip or costs rise, dilution can show up again before the next decisive catalyst.
You have already seen the share-count effect once. That is the cleanest warning sign on the page.
med
volatility overwhelms the balance sheet
A C++ balance sheet and 5 / 100 price stability is an awkward combination. The stock can move fast while financing options stay expensive.
That matters because MAIA cannot fund itself through sales. Market access is part of the business model for now.
A weak THIO update plus another financing round would pressure the entire thesis. With $0 trailing revenue and 58.66M shares outstanding, there is not much insulation built into the story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
trend
share count after the latest raise
58.66M shares outstanding is the new baseline. If that number rises again before a meaningful THIO inflection, dilution is becoming the whole story.
risk
THIO clinical signal
This is still the key risk and the key upside path. In a single-asset biotech, the trial data are the business update.
calendar
the next management update
Listen for milestone language. If updates drift from timelines toward storytelling, the market usually notices before management says it plainly.
metric
revenue staying at $0
That is normal for a clinical-stage biotech. It also means every quarter without a financing or data improvement leaves the stock leaning on hope.
Analyst rankings
short-term outlook
mixed
analyst target data is thin here. in human-speak, nobody has a clean consensus worth treating like a map.
risk profile
volatile
small-cap clinical biotech rarely trades on smooth fundamentals. catalysts and financing do most of the driving.
chart momentum
stock-specific
beta says 0.9. the chart says this still trades like a catalyst story, not a stable operating business.
earnings predictability
40 / 100
that low score makes sense. when revenue is still $0, reported results tell you more about spending and timing than about business quality.
source: institutional data
Institutional activity
institutional ownership data for MAIA is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive