MapLight Therapeutics, Inc.
Business
MapLight Therapeutics is a clinical-stage biopharmaceutical company developing therapies for central nervous system disorders using a circuit-based discovery platform. The company's lead product candidate, ML-007C-MA, is a fixed-dose combination muscarinic agonist in Phase 2 trials for schizophrenia and Alzheimer's disease psychosis; its second candidate, ML-004, is in Phase 2 development for autism spectrum disorder. MapLight is advancing multiple preclinical programs targeting neuropsychiatric and movement disorders and retains global development and commercial rights to all programs.
Summary from 10-K filed 2026-03-26
Financials
Consolidated Statement of Income
| Concept | Trend | 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
| Concept | Trend | 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
| Concept | Trend | 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 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is MapLight Therapeutics, Inc.'s CIK number?
MapLight Therapeutics, Inc.'s SEC CIK number is 0001770069 (1770069). 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 MapLight Therapeutics, Inc.'s SEC filings?
All of MapLight 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 MapLight Therapeutics, Inc. last report earnings?
MapLight Therapeutics, Inc. (MPLT) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-224067). This is MapLight Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is MapLight Therapeutics, Inc.'s most recent earnings 8-K?
MapLight Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001193125-26-224067. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View MapLight Therapeutics, Inc.'s latest earnings 8-K →
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