A cancer drug developer has rocked Wall Street by implementing what is perhaps the most audacious crypto treasury strategy we have seen from a traditional biotech firm.

MAIA Biotechnology (NYSE American: MAIA) announced on October 7 that its Board of Directors has approved allocating up to 90% of the company's liquid assets into cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) for now.

Following the news of this move, the stock increased more than 4% intraday. The stock rose over 8% intraday following the news.

MAIA Biotechnology (NYSE American: MAIA) rose to $1.89 from the earlier close of $1.74. The shares reached an intraday high of $1.97 shortly after the opening bell before returning to the mid-$1.70 levels.

Pharma meets Bitcoin

Headquartered in Chicago, MAIA is a clinical-stage biopharma company developing targeted immunotherapies for cancer, led by Vlad Vitoc, M.D.

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Interestingly, oncology research remains the company's primary focus – particularly its THIO therapy for telomerase-positive cancer cells – but its leadership has also given the nod to a parallel investment strategy after closing key financing, while shareholders vote on whether it should float in crypto.

"Our new digital assets treasury strategy focuses on diversifying our investment portfolio with leading and dynamic crypto tokens in the rapidly evolving blockchain space,” said MAIA CEO Vlad Vitoc, M.D., in a press release .

“We are taking a disciplined and measured approach, targeting only the highest-quality tokens to minimize risk while gaining exposure to those with the greatest potential for strong returns. This strategy offers another path to growing and sustaining value creation for our shareholders, which is always our top priority, while keeping adequate working capital for our business operations."

The plan includes continuously monitoring cryptocurrency transactions, preventing cybersecurity issues, and adhering to accounting rules. In the near-term plan, MAIA also plans to create a new Digital Assets Advisory Board, which will be used to advise and oversee financial activities.

The shift places MAIA among a small group of non-tech , non-crypto public companies that are taking aggressive treasury allocations into digital assets.

Related: What are tokenized stocks? Explained

This story was originally reported by TheStreet on Oct 7, 2025, where it first appeared in the Stock Ideas section. Add TheStreet as a Preferred Source by clicking here.