MAIA Biotechnology, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

The Company's net deferred tax assets consist of the following components:


	December 31,
	2024			2023
Deferred tax assets:
Net operating loss carryforwards	$	8,238,806		$	5,226,712
Stock-based compensation		1,753,825			1,378,351
Research and development		4,622,097			3,183,980
Accrued compensation		524,012			584,001
Other		49,420			—
Total net deferred tax assets before valuation allowance		15,188,160			10,373,044
Valuation allowance		(15,188,160	)		(10,373,044	)
Net deferred tax asset	$	—		$	—

The income tax benefit differs from the benefit that would result from applying federal statutory rates to loss before income taxes as follows:


	December 31,
	2024			2023
Statutory federal income tax rate		21.0	%		21.0	%
State taxes, net of federal tax benefit		6.3	%		1.1	%
Stock-based compensation		(0.9	)%		(2.2	)%
Warrant amendments		(6.0	)%		—	%
Other nondeductible expenses/(nontaxable income)		0.3	%		1.0	%
Change in valuation allowance		(20.7	)%		(20.9	)%
Income tax benefit		—	%		—	%