Financial Performance - MapLight Therapeutics reported a net loss of $29.4 million for Q3 2025, compared to a net loss of $19.0 million in Q3 2024, reflecting an increase of 55.6% year-over-year[12]. - Total operating expenses for Q3 2025 were $31.5 million, compared to $20.9 million in Q3 2024, marking a 50.8% increase[15]. - General and administrative expenses for Q3 2025 were $4.4 million, slightly higher than $4.1 million in Q3 2024, reflecting increased legal and consulting fees[12]. Research and Development - Research and development expenses for Q3 2025 were $27.1 million, up from $16.8 million in Q3 2024, indicating a 61.5% increase primarily due to higher clinical trial costs[12]. - Topline results from the Phase 2 ZEPHYR trial for ML-007C-MA in schizophrenia are expected in the second half of 2026, with 300 participants enrolled[6]. - Enrollment in the Phase 2 IRIS study for ML-004 in Autism Spectrum Disorder has been completed, with topline results anticipated in the second half of 2026[9]. - The company expects to complete IND-enabling studies for ML-021 in the second half of 2026, targeting motor deficits in Parkinson's Disease[9]. Capital and Assets - The company raised $296.5 million in gross proceeds from its initial public offering and concurrent private placement in October 2025, with net proceeds of $269.8 million after expenses[5]. - Cash, cash equivalents, and short-term investments totaled $227.2 million as of September 30, 2025, sufficient to fund operations through 2027[5]. - The company ended Q3 2025 with total assets of $257.2 million, up from $136.9 million at the end of 2024[17].
MapLight Therapeutics(MPLT) - 2025 Q3 - Quarterly Results