The balance sheet exhibits structural instability, evidenced by a retained earnings deficit of $116.0 million as of 2026Q1 and a history of negative equity positions.
| Total Current Assets | 35.32M | 9.7M | 10.15M | 7.56M | 11.81M | 10.67M | 746.5K | 1.73M |
| Cash & Short-Term Investments | 34.41M | 8.66B | 9.6M | 7.15M | 10.95M | 10.57M | 663.46K | 1.71M |
| Cash Only | 34.41M | 8.66B | 9.6M | 7.15M | 10.95M | 10.57M | 663.46K | 1.71M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 77.35K | 144.68K | 302.79K | 43.67K | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 902.02K | -8.65B | 473.83K | 268.68K | 554.32K | -43.67K | 0 | 0 |
| Total Non-Current Assets | 7.52K | 2.8K | 2.8K | 2.8K | 214K | 654.7K | 0 | 0 |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 7.52K | 2.8K | 2.8K | 2.8K | 214K | 654.7K | 0 | 0 |
| Total Assets | 35.32M | 9.7M | 10.16M | 7.57M | 12.02M | 11.33M | 746.5K | 1.73M |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - |
| Asset Growth % | 95679.76% | -4.44% | 34.21% | -37.06% | 6.13% | 1417.36% | -56.96% | - |
| Total Current Liabilities | 6.32M | 5.84M | 3.83M | 4.94M | 3.27M | 2.15M | 1.69M | 374.56K |
| Accounts Payable | 2.98M | 2.04M | 1.51M | 1.64M | 1.17M | 960.4K | 154.89K | 169.19K |
| Days Payables Outstanding | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 31.95K | 25K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 3.34M | 3.8M | 941.1K | 1.61M | 0 | 496.02K | 1.44M | 2.1K |
| Current Ratio | 5.59x | 1.66x | 2.65x | 1.53x | 3.61x | 4.97x | 0.44x | 4.63x |
| Quick Ratio | 5.59x | 1.66x | 2.65x | 1.53x | 3.61x | 4.97x | 0.44x | 4.63x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.24M | 1.49M | 2.69M | 2.15M | 245.34K | 0 | 669.06K | 35.17K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 431.8K | 9.17K |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.24M | 1.49M | 2.69M | 2.15M | 245.34K | 0 | 237.26K | 26K |
| Total Liabilities | 7.56M | 7.33M | 6.52M | 7.09M | 3.51M | 2.15M | 2.36M | 409.74K |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 463.75K | 34.17K |
| Net Debt | -34.41M | -8.66B | -9.6M | -7.15M | -10.95M | -10.57M | -199.7K | -1.68M |
| Debt / Equity | 0.00x | - | - | - | - | - | - | 0.03x |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 2.19x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | -407975.42x | - | -2262.42x | -14.20x | -221.12x | - |
| Total Equity | 27.76M | 2.38M | 3.63M | 477.51K | 8.51M | 9.18M | -1.62M | 1.32M |
| Equity Growth % | 65654.18% | -34.63% | 661.16% | -94.39% | -7.33% | 668.04% | -222% | - |
| Book Value per Share | 0.86 | 0.07 | 0.16 | 0.04 | 0.92 | 0.86 | -0.15 | 0.12 |
| Total Shareholders' Equity | 27.76M | 2.38M | 3.63M | 477.51K | 8.51M | 9.18M | -3.34M | -172.87K |
| Common Stock | 6.07K | 3.86K | 2.62K | 1.7K | 1.1K | 758 | 443 | 442 |
| Retained Earnings | -116M | -109.63M | -87.23M | -63.98M | -44.21M | -28.44M | -15.93M | -9.3M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -39.67K | -50.23K | -30.61K | -16.26K | -15.97K | 0 | 0 | -104.4K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1.72M | 1.5M |
Binary clinical trial failure
As reported in financial statements, MAIA's equity base has experienced extreme volatility, including a negative equity position in 2024Q1, suggesting that the company's financial trajectory is entirely dependent on periodic external capital injections rather than organic growth or internal value creation from its clinical-stage oncology pipeline.
The erratic movement in total assets and equity highlights the precarious nature of a pre-revenue biotech firm reliant on equity markets. Investors should monitor the persistent accumulation of negative retained earnings, which reached $116.0 million in 2026Q1, as this indicates a structural inability to self-fund operations.
Based on reported figures, the company's current ratio has fluctuated significantly, reaching 5.59 in 2026Q1, though this metric is heavily distorted by an unexplained $8.6 billion cash anomaly in 2025Q4 that warrants extreme caution and immediate verification by stakeholders before assessing the firm's actual operational runway.
Excluding the anomalous 2025Q4 data, the company's liquidity appears tight, with current ratios often hovering near or below 2.0. This suggests that the firm maintains a very thin buffer against clinical trial delays or unexpected increases in contract research organization costs.
According to recent SEC filings, the company's equity quality remains severely compromised by consistent net losses, with retained earnings deepening to a deficit of $116.0 million, a trend that underscores the high probability of future shareholder dilution as the firm seeks to fund its ongoing clinical development.
The reliance on equity financing to cover R&D expenses creates a perpetual risk of dilution for existing shareholders. The lack of positive retained earnings confirms that the business model is currently a pure capital-consumption vehicle with no internal mechanism for equity preservation.
As indicated by the provided financial data, the presence of an $8.6 billion cash balance in 2025Q4 represents a massive, non-obvious distortion that makes headline liquidity numbers potentially misleading and necessitates a forensic review of the company's reported financial position to determine its true solvency.
This reporting discrepancy is a critical red flag that undermines the reliability of the entire balance sheet. Analysts should treat all liquidity and asset-based valuation models with skepticism until this specific figure is reconciled against audited financial statements.
Quick answers to the most common questions about buying MAIA stock.
As of 2025, MAIA Biotechnology, Inc. (MAIA) had total assets of $9.7M including $9.7M in current assets.
MAIA Biotechnology, Inc. (MAIA) carries total debt of $0.0M, offset by $8.66B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
MAIA Biotechnology, Inc. (MAIA) has total shareholders' equity (book value) of $2.4M ($0.07 book value per share). Book value represents the net worth of the company belonging to common stock holders.
MAIA Biotechnology, Inc. (MAIA) reported a current ratio of 1.66x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.