Quarterly ResultMay 14, 2026, 04:20 PM
MapLight Therapeutics Q1 Net Loss $60.7M; Phase 2 Trial Enrollment Complete
AI Summary
MapLight Therapeutics, Inc. reported its first quarter 2026 financial results, with a net loss of $60.7 million, up from $22.3 million in Q1 2025, driven by increased R&D and G&A expenses. The company announced significant clinical progress, including the completion of enrollment for its Phase 2 ZEPHYR trial in schizophrenia and the last patient visit for its Phase 2 IRIS trial in autism spectrum disorder, with topline results for both expected by mid-August 2026. MapLight ended the quarter with $395.2 million in cash, cash equivalents, and investments, which is projected to fund operations through 2027.
Key Highlights
- Enrollment completed for ML-007C-MA's Phase 2 ZEPHYR trial in schizophrenia.
- Last patient visit completed for ML-004's Phase 2 IRIS trial in autism spectrum disorder.
- Topline results for both ZEPHYR and IRIS trials are expected by mid-August 2026.
- Cash, cash equivalents, and investments totaled $395.2 million as of March 31, 2026.
- Company expects current cash to fund operations through 2027.
- Research and development expenses increased to $53.7 million in Q1 2026 from $19.8 million in Q1 2025.
- General and administrative expenses rose to $10.8 million in Q1 2026 from $3.8 million in Q1 2025.
- Net loss for Q1 2026 was $60.7 million, compared to $22.3 million for Q1 2025.