Maze Therapeutics, Inc.
Business
Maze Therapeutics is a clinical-stage biopharmaceutical company developing precision medicines for kidney and metabolic diseases using its proprietary Compass platform to identify and characterize disease-driving genetic variants. The company is advancing two wholly-owned clinical programs: MZE829, an oral APOL1 inhibitor for APOL1-mediated kidney disease in Phase 2 development, and MZE782, an oral SLC6A19 inhibitor for phenylketonuria and chronic kidney disease in Phase 2-ready stage. Maze also has partnered programs licensed to other pharmaceutical companies and maintains a pipeline of preclinical research programs targeting kidney and metabolic indications.
Summary from 10-K filed 2026-03-25
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| License revenue | — | 168 | |
| Research and development | 108 | 83 | |
| General and administrative | 34 | 26 | |
| Total operating expenses | 143 | 110 | |
| (Loss) income from operations | −143 | 58 | |
| Interest and other income, net | 12 | 5 | |
| Change in fair value of convertible promissory notes | 0 | −9 | |
| (Loss) income before income tax expense | −131 | 53 | |
| Income tax expense | 0 | −1 | |
| Net (loss) income | −131 | 52 | |
| Net (loss) income attributable to common stockholders, basic (see Note 14) | −131 | 3 | |
| Net (loss) income attributable to common stockholders, diluted (see Note 14) | −131 | 3 | |
| Basic (per share) | −3.05 | 1.42 | |
| Diluted (per share) | −3.05 | 1.25 | |
| Basic (shares) | 43 | 2 | |
| Diluted (shares) | 43 | 3 | |
| Net unrealized gain on marketable securities | 110,000 | — | |
| Comprehensive (loss) income | −131 | 52 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Cash and cash equivalents | 189 | 197 | |
| Marketable securities, current | 153 | — | |
| Prepaid expenses and other current assets | 8 | 5 | |
| Total current assets | 350 | 202 | |
| Property and equipment, net | 5 | 7 | |
| Restricted cash | 1 | 1 | |
| Marketable securities, non-current | 18 | — | |
| Operating lease right-of-use asset | 20 | 23 | |
| Other assets | 3 | 8 | |
| Total assets | 397 | 241 | |
| Accounts payable | 2 | 2 | |
| Accrued expenses and other current liabilities | 16 | 14 | |
| Operating lease liabilities, current | 5 | 5 | |
| Total current liabilities | 23 | 21 | |
| Operating lease liabilities, net of current portion | 19 | 22 | |
| Other liabilities, non-current | 1 | 969,000 | |
| Total liabilities | 42 | 44 | |
| Commitments and contingencies (Note 8) | — | — | |
| Redeemable convertible preferred stock, $0.001 par value; no shares authorized, issued and outstanding as of December 31, 2025; 298,205,027 shares authorized and 297,205,041 shares issued and outstanding as of December 31, 2024; aggregate liquidation preference of $502,390 as of December 31, 2024 | 0 | 508 | |
| Preferred stock, $0.001 par value; 10,000,000 and no shares authorized as of December 31, 2025 and 2024, respectively; no shares issued and outstanding as of December 31, 2025 and 2024 | 0 | 0 | |
| Common stock, $0.001 par value; 500,000,000 and 410,000,000 shares authorized as of December 31, 2025 and 2024, respectively; 49,335,551 and 2,446,864 shares issued and outstanding as of December 31, 2025 and 2024, respectively; 10,372 shares subject to repurchase as of December 31, 2025 and 2024 | 49,000 | 2,000 | |
| Additional paid-in-capital | 844 | 47 | |
| Accumulated other comprehensive income | 110,000 | — | |
| Accumulated deficit | −490 | −358 | |
| Total stockholders' equity (deficit) | 355 | −311 | |
| Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) | 397 | 241 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Net (loss) income | −131 | 52 | |
| Depreciation expense | 2 | 3 | |
| Stock-based compensation expense | 16 | 10 | |
| Non-cash lease expense | 3 | 3 | |
| Accretion of discounts on marketable securities, net | −505,000 | — | |
| Change in fair value of convertible promissory notes | — | 9 | |
| Other items, net | 21,000 | 577,000 | |
| Prepaid expenses and other current assets | −3 | 93,000 | |
| Other assets | 537,000 | −2 | |
| Accounts payable | −27,000 | −204,000 | |
| Accrued expenses and other liabilities | 3 | 4 | |
| Operating lease liabilities | −3 | −3 | |
| Net cash (used in) provided by operating activities | −112 | 76 | |
| Purchases of marketable securities | −188 | — | |
| Maturities of marketable securities | 18 | — | |
| Purchases of property and equipment | −794,000 | −1 | |
| Net cash used in investing activities | −171 | −1 | |
| Proceeds from initial public offering, net of offering costs paid | 128 | — | |
| Proceeds from private placement, net of offering costs paid | 141 | — | |
| Proceeds from exercise of stock option awards, net of repurchases | 6 | 733,000 | |
| Proceeds from issuance of common stock under the 2025 Employee Stock Purchase Plan | 1 | — | |
| Payment of success fee derivative | −500,000 | — | |
| Proceeds from exercise of pre-funded warrants | 1,000 | — | |
| Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs | — | 71 | |
| Proceeds from issuance of convertible promissory notes, net of issuance costs | — | 24 | |
| Net cash provided by financing activities | 275 | 93 | |
| Net (decrease) increase in cash, cash equivalents and restricted cash | −8 | 168 | |
| Purchases of property and equipment recorded in accounts payable and accrued expenses | 5,000 | 59,000 | |
| Vesting of restricted stock and stock options subject to repurchase | — | 23,000 | |
| Offering costs recorded in accounts payable and accrued expenses | 11,000 | 1 | |
| Settlement of convertible promissory notes by conversion to Series D-1 redeemable convertible preferred stock | — | 53 | |
| Deemed dividend for anti-dilution adjustments to Series B and Series C redeemable convertible preferred stock upon issuance of Series D redeemable convertible preferred stock | — | 15 | |
| Income taxes paid | — | 1 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Maze Therapeutics, Inc.'s CIK number?
Maze Therapeutics, Inc.'s SEC CIK number is 0001842295 (1842295). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Maze Therapeutics, Inc.'s SEC filings?
All of Maze Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Maze Therapeutics, Inc. last report earnings?
Maze Therapeutics, Inc. (MAZE) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-219398). This is Maze Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Maze Therapeutics, Inc.'s most recent earnings 8-K?
Maze Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001193125-26-219398. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Maze Therapeutics, Inc.'s latest earnings 8-K →
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