Cancer drug maker takes sudden pivot into crypto

A pharmaceutical company focused on cancer has stirred excitement on Wall Street by adopting an unprecedented cryptocurrency treasury strategy that stands out among traditional biotech entities.

On October 7, MAIA Biotechnology (NYSE American: MAIA) revealed that its Board of Directors has sanctioned the allocation of up to 90% of the firm’s liquid assets into digital currencies, including Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) for the time being.

In reaction to this announcement, the stock experienced a surge of over 4% during trading. The shares spiked more than 8% at one point following the news.

MAIA Biotechnology (NYSE American: MAIA) climbed to $1.89 from a previous close of $1.74. The stock reached an intraday peak of $1.97 shortly after the market opened before settling back to the mid-$1.70 range.

With headquarters in Chicago, MAIA is a clinical-stage biopharma firm developing targeted immunotherapy solutions for cancer, led by Dr. Vlad Vitoc.

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Notably, while cancer research remains the company’s core mission—especially its THIO therapy for telomerase-positive cancer cells—leadership has embraced a dual investment approach following significant financing, awaiting a shareholder vote on the crypto initiative.

“Our new digital asset treasury strategy is designed to diversify our investment portfolio with premier and dynamic crypto tokens as the blockchain landscape evolves,” stated MAIA’s CEO Dr. Vlad Vitoc in a press release.

“We are adopting a disciplined and considered approach, focusing solely on the highest-quality tokens to reduce risks while participating in those with the potential for significant returns. This strategy provides an alternative avenue for enhancing and maintaining value creation for our shareholders, which remains our precedence, whilst ensuring sufficient working capital for operational needs.”

The initiative includes ongoing monitoring of cryptocurrency transactions, enhanced cybersecurity measures, and compliance with accounting regulations. In the short term, MAIA is also establishing a new Digital Assets Advisory Board to oversee and guide financial transactions.

This transition places MAIA within a select group of non-tech, non-crypto public entities pursuing aggressive treasury allocations into digital currencies.

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This article was originally reported by TheStreet on October 7, 2025, where it first appeared in the Stock Ideas section. To make TheStreet your Preferred Source, click here.