Core Insights - MapLight Therapeutics reported significant progress in its clinical pipeline and financial results for Q3 2025, highlighting advancements in treatments for central nervous system disorders [2][3][4]. Financial Highlights - The company raised $296.5 million in gross proceeds from its initial public offering (IPO) and concurrent private placement in October 2025, with net proceeds of $269.8 million after expenses [4][6]. - As of September 30, 2025, MapLight had $227.2 million in cash, cash equivalents, and short-term investments, which are expected to fund operations through 2027 [10][15]. - Research and development expenses for Q3 2025 were $27.1 million, up from $16.8 million in Q3 2024, primarily due to increased clinical trial costs [10][13]. - The net loss for Q3 2025 was $29.4 million, compared to a net loss of $19.0 million in Q3 2024 [10][13]. Clinical Development Progress - The Phase 2 ZEPHYR trial for ML-007C-MA in schizophrenia is expected to yield topline results in the second half of 2026, with 300 participants enrolled [4][5]. - The Phase 2 VISTA trial for ML-007C-MA in Alzheimer's disease psychosis is anticipated to report topline results in the second half of 2027, also enrolling 300 participants [4][5]. - Enrollment in the Phase 2 IRIS study for ML-004, targeting autism spectrum disorder, has been completed, with results expected in the second half of 2026 [4][5]. - The company plans to complete IND-enabling studies for ML-021, aimed at treating motor deficits in Parkinson's disease, in the second half of 2026 [5]. Company Overview - MapLight Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for patients with debilitating central nervous system disorders, founded by leaders in psychiatry and neuroscience [8].
MapLight Therapeutics Reports Third Quarter Financial Results and Highlights Corporate Progress