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Diamond Equity Research Initiates Coverage on MAIA Biotechnology, Inc. (NYSE: MAIA)

NEW YORK, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has initiated coverage of MAIA Biotechnology, Inc. (NYSE: MAIA). The in-depth 20-page initiation report includes detailed information on the MAIA Biotechnology’s business model, services, industry, valuation, management, and risks.

The full research report is available here. Highlights from the report include:

  • Pan-cancer Therapeutic Applications with Potential to Overcome Therapeutic Resistance - The company’s lead small molecule telomere targeting agent, 6-thio-dG or THIO has the potential to be an effective therapeutic alternative to almost all forms of major cancer types. The presence of telomerase activity in over 85% of malignancies and in less than 1% of normal cells allows THIO to target multiple forms of solid and hematological malignancies with a high level of specificity. Furthermore, THIO has a differentiated dual mechanism of action, targeting telomere via telomerase and also inducing anti-cancer immunogenicity. With the potential to convert immunologically “cold” tumors into “hot” tumors, THIO can significantly improve the immunotherapy efficacy while overcoming the prior developed or intrinsic resistance.

  • Historical Trials and Robust Pre-clinical Trials Providing Initial Insights into THIO’s Potential Efficacy and Safety - THIO has been evaluated in multiple in vivo and in vitro models and in human clinical trials (under NCI IND in the 1970’s) in multiple cancer types providing crucial insights into the drug’s potential efficacy, safety, and immune stimulatory role. THIO treatment was found to induce telomeric DNA damage in cancer cells with high specificity vis-à-vis normal counterparts leading to inhibition of cancer cell proliferation, senescence, and apoptosis. In in vivo models, upregulation of CD8+ T cell proliferation was also observed with the induction of antigen-specific immune memory. THIO appears to be more effective and safer than telomerase inhibitors due to the noticeably lower comparative lag period between initiation and phenotypic and expected clinical responses. Being evaluated in multiple clinical trials during the 1970s and early 1980s, THIO demonstrated a well-established safety profile at the maximum tolerated dose levels, approximately four to forty times higher than those being evaluated in the current clinical trial. In addition, those early trials provided an understanding of the clinical experience and clinical profile of THIO administered in more than 600 subjects.

  • Large Market Opportunity - The company has begun a phase 2 clinical trial evaluating THIO in sequential combination with Libtayo® (cemiplimab; Regeneron) in patients with advanced non-small cell lung cancer (NSCLC), which is the company’s first indication. NSCLC is the second most diagnosed cancer and a leading cause of cancer mortality across the globe. Even after the approval of multiple immunotherapies as a first-line treatment, the disease is still characterized by high unmet medical needs. Of the total $23 billion of NSCLC drug sales in 2021, approximately 52% or $12 billion is contributed by immune checkpoint inhibitors. THIO is being evaluated with one such PD-1 checkpoint inhibitor, Libtayo® (cemiplimab). Based on multiple pre-clinical trials, we believe THIO has the potential to complement Libtayo® (cemiplimab) and significantly improve the efficacy if administered as a sequential combined therapy compared to monotherapy. Based on our estimates and assumptions, THIO’s NSCLC indication global market opportunity is approximately $20 billion. The company has also planned to commence THIO phase 2 clinical trial in patients with SCLC, HCC, and CRC, further expanding its market opportunity.

  • Valuation - We have valued the company using risk-adjusted DCF as our preferred methodology. We have discounted the cash flows at 15.0% and assumed the probability of success at 25.0% for our lead indication, yielding a value of $123.24 million or $11.25 per share.

About MAIA Biotechnology, Inc

Founded in 2018 and headquartered in Chicago, Illinois, MAIA is a biotechnology company engaged in discovering, developing, and commercializing novel cancer therapies with high unmet medical needs. The company’s lead therapeutic candidate is currently being evaluated in a phase 2 clinical trial for the treatment of non-small-cell lung cancer.

For more information, visit https://maiabiotech.com/

About Diamond Equity Research

Diamond Equity Research is a leading equity research and corporate access firm focused on small capitalization companies. Diamond Equity Research is an approved sell-side provider on major global institutional investor platforms.

For more information, visit https://www.diamondequityresearch.com.

Disclosures:

Diamond Equity Research LLC is being compensated by MAIA Biotechnology, Inc. for producing research materials regarding MAIA Biotechnology, Inc. and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however the views in the report reflect that of Diamond Equity Research. All payments are received upfront and are billed for research engagement. As of 12/12/22 the issuer had paid us $20,000 for our annual research services, consisting of $20,000 for an initiation report and $15,000 due for update notes due within 90 days of publishing initiation, with research services commencing and initiation payment made 11/10/22, both payments as part of annual subscription. Diamond Equity Research LLC may be compensated for non-research related services, including presenting at Diamond Equity Research investment conferences, press releases and other additional services. The non-research related service cost is dependent on the company, but usually do not exceed $5,000. The issuer has not paid us for non-research related services as of 12/12/22. Issuers are not required to engage us for these additional services. Additional fees may have accrued since then. This report does not explicitly or implicitly affirm that the information contained within this document is accurate and/or comprehensive, and as such should not be relied on in such a capacity. All information contained within this report is subject to change without any formal or other notice provided. Although Diamond Equity Research company sponsored reports are based on publicly available information and although no investment recommendations are made within our company sponsored research reports, given the small capitalization nature of the companies we cover, we have adopted an internal trading procedure around the public companies by whom we are engaged, with investors able to find such policy on our website public disclosures page. This report and press release do not consider individual circumstances and does not take into consideration individual investor preferences. Statements within this report may constitute forward-looking statements, these statements involve many risk factors and general uncertainties around the business, industry, and macroeconomic environment. Investors need to be aware of the high degree of risk in small capitalization equities including the complete loss of their investment. Investors can find select risk factors in the initiation report and in the respective financial filings for MAIA Biotechnology, Inc. Please refer to Diamond initiation report for full disclaimers.

Contact:

Diamond Equity Research
research@diamondequityresearch.com


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