MAIA生物技术股份有限公司2025年季度报告

FORM10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedSeptember 30,2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission File Number:001-41455 MAIA BIOTECHNOLOGY, INC.(Exact Name of Registrant as Specified in its Charter) Delaware83-1495913(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.) 444 West Lake Street,Suite 1700Chicago,IL60606(Address of principal executive offices)(Zip Code) (312)416-8592(Registrant’s telephone number, including area code) Not Applicable(Former name or former address and fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registeredNYSEAmerican MAIA Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Non-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of November 7, 2025, the registrant had37,032,307shares of common stock, $0.0001par value per share, outstanding. Table of Contents PageNote About Forward-Looking Statements1PART I—FINANCIAL INFORMATION2Item 1.Financial Statements2Condensed Consolidated Balance Sheets as of September 30, 2025 (Unaudited) and December 31, 20242Condensed Consolidated Statements of Operations (Unaudited) for the three and nine months ended September 30,2025 and 20243Condensed Consolidated Statements of Comprehensive Loss (Unaudited) for the three and nine months endedSeptember 30, 2025 and 20244Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) for the three and nine monthsended September 30, 2025 and 20245Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 30, 2025and 20247Notes to Unaudited Condensed Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item 3.Quantitative and Qualitative Disclosures About Market Risk33Item 4.Controls and Procedures33PART II—OTHER INFORMATION34Item 1.Legal Proceedings34Item 1A.Risk Factors34Item 2.Unregistered Sales of Equity Securities and Use of Proceeds39Item 3.Defaults Upon Senior Securities39Item 4.Mine Safety Disclosures39Item 5.Other Information39Item 6.Exhibits40Signatures41 CAUTIONARY NOTICE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements, which are made pursuant to the safe harbor provisions ofSection 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934,as amended (the “Exchange Act”). This Report contains a number of forward-looking statements that reflect management’s currentviews and expectations with respect to our business, strategies, products, future results and events, and financial performance. Allstatements other than statements of historical facts contained in this report, including statements regarding our future results ofoperations and financial position, business strategy, product candidates, planned preclinical studies and clinical trials, research anddevelopment costs, regulatory approvals, timing and likelihood of success, as well as plans and objectives of management for futureoperations, are forward-looking statements. In some cases, forward-looking statements may be identified by words such as “believe,”“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “expect,” “objective,” “plan,” “potential,”“seek,” “grow,” “target,” “if,”, variations of such words, the neg