Shares of MAIA Biotechnology MAIA rose 20.3% on Wednesday after management announced encouraging interim results from the phase II THIO-101 study evaluating its lead pipeline candidate THIO in patients with advanced non-small cell lung cancer (NSCLC).

The study is enrolling patients with advanced NSCLC who either progressed or relapsed after a first-line treatment regimen containing another checkpoint inhibitor. As per the latest available data (as of Nov 13, 2023), 60 patients have been dosed with THIO at different dose levels of 60mg, 180mg or 360mg. Out of these patients, 42 have completed at least one post-baseline assessment.

Though MAIA did not report any numerical figures, it did mention that the disease control rate (DCR) observed in the study participants was ‘well sustained compared to previous scans.’

Last October, MAIA reported preliminary data from the THIO-101 study wherein patients treated with THIO achieved 100% DCR in the second-line setting and 88% in the third-line setting. With the latest results demonstrating a sustainable DCR when compared to previous scans, the updated results suggest that THIO has the potential to control the rate at which the cancer progresses effectively. Shares were likely up for this reason.

In the past year, MAIA’s stock has plunged 65.6% compared to the industry’s 12.5% fall.

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The THIO-101 study is designed to evaluate THIO’s potential direct anticancer and immune system activation effects in NSCLC patients by administering THIO prior to Regeneron’s REGN anti-PD-1 therapy, Libtayo (cemiplimab). This allows immune system activation and sensitivity to the PD-1 inhibitor to take effect.

The FDA currently approves Regeneron’s Libtayo to treat three cancer indications — NSCLC, basal cell carcinoma (BCC) and cutaneous squamous cell carcinoma (CSCC). During the nine months ended September 2023, Regeneron generated $625 million from Libtayo sales, which were up 53% year over year.

THIO is designed to target a type of protein called telomeres, which plays a fundamental role in the survival of cancer cells and their resistance to current therapies.

Per management, THIO is the only direct telomere targeting agent undergoing clinical development for treating cancer. The candidate has been granted orphan drug designation by the FDA for three cancer indications – hepatocellular carcinoma, small-cell lung cancer and glioblastoma.

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Zacks Rank & Other Key Picks

MAIA currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the overall healthcare sector include CytomX Therapeutics CTMX and Novo Nordisk NVO, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.