MAIA Biotechnology Announces Share Repurchase Program
28 Setembro 2023 - 9:01AM
Business Wire
MAIA Biotechnology, Inc. (NYSE American: MAIA), a clinical stage
company developing telomere-targeting immunotherapies for cancer,
today announced that its Board of Directors has approved a share
repurchase program with authorization to purchase up to $800,000 of
its Class A common stock through September 2024.
“This share repurchase program demonstrates the confidence we
have in our market opportunity and our strategy to invest for
long-term growth, which we believe is not reflected in the current
market valuation,” said Vlad Vitoc, MAIA’s Chief Executive Officer.
“By establishing a repurchase plan, we add another tool to our
arsenal that can assist with our future financing efforts, enable
us to unlock more of the long-term opportunity we see ahead, and
drive sustainable value for all stakeholders.”
With a share repurchase program, MAIA may repurchase shares from
time to time through various methods, including in open market
transactions, in privately negotiated transactions or otherwise,
including through the use of trading plans intended to qualify
under Rule 10b5-1 under the Securities Exchange Act of 1934, as
amended, in compliance with applicable state and federal securities
laws. The timing, as well as the number and value of shares
repurchased under the program, will be determined by the Company at
its discretion and will depend on a variety of factors, including
our assessment of the intrinsic value of the Company's common
stock, the market price of the Company's common stock, general
market and economic conditions, available liquidity, compliance
with the Company's debt and other agreements, applicable legal
requirements, the nature of other investment opportunities
available to the Company, and other considerations. The Company is
not obligated to purchase any shares under the repurchase program,
and the program may be suspended, modified, or discontinued at any
time without prior notice. The Company expects to fund the
repurchases by using cash on hand and expected free cash flow to be
generated in the future.
About MAIA Biotechnology, Inc.
MAIA is a targeted therapy, immuno-oncology company focused on
the development and commercialization of potential first-in-class
drugs with novel mechanisms of action that are intended to
meaningfully improve and extend the lives of people with cancer.
Our lead program is THIO, a potential first-in-class cancer
telomere targeting agent in clinical development for the treatment
of NSCLC patients with telomerase-positive cancer cells. For more
information, please visit www.maiabiotech.com.
Forward Looking Statements
MAIA cautions that all statements, other than statements of
historical facts contained in this press release, are
forward-looking statements. Forward-looking statements are subject
to known and unknown risks, uncertainties, and other factors that
may cause our or our industry’s actual results, levels or activity,
performance or achievements to be materially different from those
anticipated by such statements. The use of words such as “may,”
“might,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,”
“believe,” “estimate,” “project,” “intend,” “future,” “potential,”
or “continue,” and other similar expressions are intended to
identify forward looking statements. However, the absence of these
words does not mean that statements are not forward-looking. For
example, all statements we make regarding (i) the initiation,
timing, cost, progress and results of our preclinical and clinical
studies and our research and development programs, (ii) our ability
to advance product candidates into, and successfully complete,
clinical studies, (iii) the timing or likelihood of regulatory
filings and approvals, (iv) our ability to develop, manufacture and
commercialize our product candidates and to improve the
manufacturing process, (v) the rate and degree of market acceptance
of our product candidates, (vi) the size and growth potential of
the markets for our product candidates and our ability to serve
those markets, and (vii) our expectations regarding our ability to
obtain and maintain intellectual property protection for our
product candidates, are forward looking. All forward-looking
statements are based on current estimates, assumptions and
expectations by our management that, although we believe to be
reasonable, are inherently uncertain. Any forward-looking statement
expressing an expectation or belief as to future events is
expressed in good faith and believed to be reasonable at the time
such forward-looking statement is made. However, these statements
are not guarantees of future events and are subject to risks and
uncertainties and other factors beyond our control that may cause
actual results to differ materially from those expressed in any
forward-looking statement. Any forward-looking statement speaks
only as of the date on which it was made. We undertake no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as required by law. In this release, unless the
context requires otherwise, “MAIA,” “Company,” “we,” “our,” and
“us” refers to MAIA Biotechnology, Inc. and its subsidiaries.
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Investor Inquiries MAIA Biotechnology Joseph McGuire
Chief Financial Officer jmcguire@maiabiotech.com 904-228-2603
Investor Relations ir@maiabiotech.com
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