Maze Therapeutics Inc(US:MAZE)2025-11-06 21:21Financial Position - Maze Therapeutics reported a cash position of $383.9 million as of September 30, 2025, up from $196.8 million as of December 31, 2024, providing a cash runway into 2028[6]. - The company’s total stockholders' equity improved to $379.4 million as of September 30, 2025, compared to a deficit of $311.2 million as of December 31, 2024[18]. Revenue and Expenses - The company recognized no license revenue during the three and nine months ended September 30, 2025, compared to $2.5 million and $167.5 million for the same periods in 2024, respectively[7]. - Research and Development (R&D) expenses for Q3 2025 were $25.2 million, an increase from $19.9 million in Q3 2024, primarily due to higher clinical trial and manufacturing expenses[8]. - General and Administrative (G&A) expenses for Q3 2025 were $7.8 million, compared to $6.9 million in Q3 2024, reflecting higher personnel-related expenses[9]. - The net loss for Q3 2025 was $30.1 million, compared to a net loss of $24.8 million for the same period in 2024[10]. Clinical Trials and Development - Maze plans to initiate two Phase 2 proof-of-concept trials for MZE782 in phenylketonuria (PKU) and chronic kidney disease (CKD) in 2026[11]. - Enrollment is ongoing in the Phase 2 HORIZON trial of MZE829, with topline proof-of-concept data expected by the end of Q1 2026[3]. - MZE829 is being developed as a potential treatment for APOL1-mediated kidney disease (AMKD), which affects over one million people in the U.S.[3]. Fundraising Activities - Maze announced an oversubscribed private placement for gross proceeds of approximately $150.0 million in September 2025[11].