MAIA Biotechnology, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 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		127,775		2.81
Exercised		—		—
Expired		—		—
Balance at September 30, 2023		924,760	$	5.59		4.43

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 for the nine months ended September 30, 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		1,398,881			3.12
Exercised		(750	)		1.91
Cancelled/forfeited		(83,023	)		6.92
Balance at September 30, 2023		7,860,736		$	2.62		7.52		2,130,148
Options exercisable at September 30, 2023		6,623,957		$	2.36		7.25		2,068,490

Assumptions used in Calculating Value of Options Granted

The value of option grants is calculated using the Black-Scholes-Merton option pricing model with the following assumptions for options granted during the nine months ended September 30, 2023 and 2022:


	2023	2022
Risk-free interest rate	3.64% - 4.59%	2.14% - 3.74%
Expected term (in years)	5 - 6.25	5 - 6.25
Expected volatility	99.6% - 112.4%	71.9% - 79.5%
Expected dividend yield	—%	—%

Summary of Stock Based Compensation Expense

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


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
General and administrative	$	320,456	$	345,568	$	911,186	$	1,144,440
Research and development		250,460		186,870		816,183		686,096
Total stock-based compensation	$	570,916	$	532,438	$	1,727,369	$	1,830,536