MapLight Therapeutics, Inc.

Listed Company

MPLTCIK 0001770069NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-161.15M

Total Assets

$479.51M

Equity

$458.37M

Shares Out

42.44M

Op. Cash Flow

$-138.14M

Business

MapLight Therapeutics, Inc. is a publicly listed company in Pharmaceutical Preparations, incorporated in Delaware. Common stock trades on Nasdaq under the ticker MPLT.

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Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31
Research and development	138	69
General and administrative	31	14
Total operating expenses	169	83
Loss from operations	−169	−83
Interest income	6	5
Loss from equity method investment	—	−986,000
Other income, net	2	2
Total other income, net	8	5
Net loss	−161	−78
Net loss per share - basic	−18.56	−105.38
Net loss per share - diluted	−18.56	−105.38
Weighted-average number of common shares outstanding - basic	9	736,178
Weighted-average number of common shares outstanding - diluted	9	736,178
Unrealized (loss) gain on available-for-sale investments	−391,000	163,000
Comprehensive loss	−162	−77

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Cash and cash equivalents	47	38	—
Short-term investments	258	71	—
Prepaid expenses and other current assets	20	6	—
Total current assets	325	115	—
Property and equipment, net	1	1	—
Long-term investments	148	11	—
Restricted cash	207,000	207,000	—
Right of use asset	5	6	—
Other assets	59,000	3	—
Total assets	480	137	—
Accounts payable	3	2	—
Accrued expenses	12	10	—
Lease liability - current	891,000	778,000	—
Deferred grant earnings	0	3	—
Total current liabilities	16	16	—
Lease liability - noncurrent	5	6	—
Total liabilities	21	22	—
Commitments and contingencies (Note 15)	—	—	—
Preferred stock, $0.0001 par value; 10,000,000 and 0 shares authorized at December 31, 2025 and 2024, respectively; 0 shares issued and outstanding at December 31, 2025 and 2024	—	—	—
Common stock, $0.0001 par value; and 500,000,000 and 325,000,000 shares authorized as of December 31, 2025 and 2024, respectively; 44,024,088 and 761,276 shares issued and outstanding at December 31, 2025 and 2024, respectively	5,000	0	—
Additional paid-in-capital	819	6	—
Accumulated other comprehensive (loss) income	−228,000	163,000	—
Accumulated deficit	−361	−199	—
Total stockholders' equity (deficit)	458	−194	−118
Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit)	480	137	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31
Depreciation	600,000	700,000
Stock-based compensation expense	36	1
Net amortization of premiums and accretion of discounts on investments	−2	−2
Common stock issued to NeuroSolis, Inc.	496,000	—
Non-cash lease expense	866,000	745,000
Loss from equity method investment	—	986,000
Loss on disposal of property and equipment	7,000	59,000
Prepaid expenses and other assets	−13	−2
Accounts payable	1	−1
Accrued expenses	3	2
Operating lease liabilities	−777,000	−653,000
Deferred grant earnings	−3	−959,000
Net cash used in operating activities	−138	−79
Purchases of short-term and long-term investments	−408	−125
Maturities of marketable debt securities	86	45
Purchases of property and equipment	−473,000	−770,000
Net cash used in investing activities	−323	−81
Payments of deferred financing costs	−5	−2
Proceeds from issuance of Series C redeemable convertible preferred stock and preferred stock purchase right, net of issuance costs	—	120
Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs	199	—
Proceeds from initial public offering of common stock and private placement, net of underwriting fees	276	—
Proceeds from exercises of stock options	285,000	294,000
Net cash provided by financing activities	470	118
Increase (decrease) in cash, cash equivalents, and restricted cash	8	−42
Conversion of redeemable convertible preferred stock into common stock on closing of initial public offering	508	—
Right of use asset obtained in exchange for operating lease liability	—	1
Purchase of property and equipment included in accounts payable and accrued expenses	—	226,000
Deferred financing costs included in accounts payable and accrued expenses	—	848,000

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