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MapLight Therapeutics (MPLT) investor relations material
MapLight Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Dec, 2025
Executive summary
Clinical-stage biopharmaceutical company advancing multiple Phase 2 trials for CNS disorders, including schizophrenia, Alzheimer's disease psychosis, and autism spectrum disorder, with topline results expected in 2026 and 2027.
Completed enrollment in the IRIS Phase 2 study for ML-004 in autism spectrum disorder; topline results expected in H2 2026.
Net loss for the nine months ended September 30, 2025 was $81.6 million, up from $56.4 million in the prior year period; accumulated deficit reached $281.0 million.
Closed IPO and concurrent private placement in October 2025, raising $296.5 million gross and $269.8 million net proceeds, with all outstanding preferred stock converting to common stock.
Financial highlights
Research and development expenses rose to $73.7 million for the nine months ended September 30, 2025, with Q3 2025 R&D expenses at $27.1 million, mainly due to increased clinical trial and employee-related costs.
General and administrative expenses were $12.0 million for the nine months ended September 30, 2025, with Q3 2025 G&A expenses at $4.4 million, slightly up year-over-year.
Cash, cash equivalents, and short-term investments totaled $227.2 million as of September 30, 2025.
Net cash used in operating activities was $91.3 million for the nine months ended September 30, 2025.
Net loss for Q3 2025 was $29.4 million, compared to $19.0 million in Q3 2024.
Outlook and guidance
Cash position, including IPO and private placement proceeds, expected to fund operations through 2027.
Topline results from Phase 2 ZEPHYR trial for schizophrenia anticipated in H2 2026; VISTA trial for Alzheimer's disease psychosis in H2 2027.
IRIS Phase 2 study results for autism spectrum disorder expected in H2 2026.
IND-enabling studies for ML-021 in Parkinson's disease expected to complete in H2 2026.
Company anticipates continued significant operating losses as it advances clinical and preclinical programs.
ML-007C-MA primary endpoint duration?
How does R&D spend impact 2027 cash runway?
What's the next milestone for ML-021?
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Next MapLight Therapeutics earnings date
Q4 202513 Apr, 2026
Next MapLight Therapeutics earnings date
Q4 202513 Apr, 2026
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