MAIA Biotechnology Shares Hit 52-Week High After Director Stock Purchase

Dow Jones04-30

By Chris Wack

MAIA Biotechnology shares hit their 52-week high Monday after it said that independent director Stan Smith made an individual purchase of 147,000 shares, and warrants for 147,000 shares, as part of the company's recent private placement.

The stock is up 12% to $3.30 in recent trading, and hit its 52-week high of $3.48 earlier in the session.

On Thursday, the biopharmaceutical company entered into definitive agreements for the purchase and sale of 494,000 shares at $2.034 a share, in a private placement to accredited investors and certain company directors.

Each share was offered together with a warrant to buy one share at an exercise price of $2.26 a share. The proceeds from the offering are $1 million, prior to offering expenses payable by the company.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

April 29, 2024 13:04 ET (17:04 GMT)

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