MAIA Biotechnology, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023


	Warrants Outstanding		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years
Balance at January 1, 2023		796,985	$	6.04		5.16
Issued		2,853,293		1.93		—
Exercised		—		—		—
Expired		—		—		—
Balance at December 31, 2023		3,650,278	$	2.82		5.00

Assumptions used in Calculating Value of Warrants Granted

The value of the warrants are calculated using the Black-Scholes-Merton option pricing model with the following assumptions for warrants granted during the years ended December 31, 2023 and 2022:


	2023	2022
Risk-free interest rate	3.8% - 4.6%	2.8% - 4.1%
Expected term (in years)	3.6 - 5.4	4.6 - 5
Expected volatility	85% - 92%	78% - 92%
Expected dividend yield	—%	—%

Summary of Activity and Information regarding Outstanding and Exercisable Options

The following table summarizes the activity and information regarding MAIA's outstanding and exercisable options classified as equity awards as of December 31, 2023:


	Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years		Aggregate Intrinsic Value
Balance at January 1, 2023		6,545,628		$	2.55		7.59		—
Granted		1,607,027			2.55
Exercised		(750	)		1.91
Cancelled/forfeited		(401,753	)		4.53
Balance at December 31, 2023		7,750,152		$	2.53		7.29		16,329
Options exercisable at December 31, 2023		7,071,064		$	2.38		7.12		16,229

Assumptions used in Calculating Value of Options Granted

The value of option grants are calculated using the Black-Scholes-Merton option pricing model with the following assumptions for options granted during the years ended December 31, 2023 and 2022.


	2023		2022
Risk-free interest rate	3.64% - 4.89%		2.14% - 4.45%
Expected term (in years)	5 - 6.25		5 - 6.25
Expected volatility	99.6% - 117.4%		71.9% - 87.9%
Expected dividend yield		—		—

Summary of Stock Based Compensation Expense

Stock based compensation related to the Company’s stock plans are as follows:


	Years Ended
	December 31,
	2023		2022
General and administrative	$	1,496,383	$	1,422,799
Research and development		1,592,920		896,628
Total stock-based compensation	$	3,089,303	$	2,319,427