Cancer drug maker takes sudden pivot into crypto

Core Viewpoint - MAIA Biotechnology has adopted a bold strategy by allocating up to 90% of its liquid assets into cryptocurrencies, marking a significant shift for a traditional biotech firm [1][4]. Company Overview - MAIA Biotechnology is a clinical-stage biopharma company based in Chicago, focusing on developing targeted immunotherapies for cancer, particularly its THIO therapy for telomerase-positive cancer cells [3][4]. Financial Impact - Following the announcement of the cryptocurrency allocation, MAIA's stock price increased over 8% intraday, rising from $1.74 to a high of $1.97 before settling in the mid-$1.70 range [2]. Investment Strategy - The company aims to diversify its investment portfolio by investing in leading cryptocurrencies such as Bitcoin, Ethereum, and USD Coin, while maintaining adequate working capital for business operations [5][6]. - MAIA's CEO emphasized a disciplined approach, targeting high-quality tokens to minimize risk and maximize potential returns for shareholders [6]. Governance and Oversight - MAIA plans to establish a Digital Assets Advisory Board to oversee its financial activities and ensure compliance with cybersecurity measures and accounting rules [6]. Industry Context - This move positions MAIA among a select group of non-tech, non-crypto public companies that are aggressively allocating treasury assets into digital currencies [7].