MapLight Therapeutics, Inc.
MPLT evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for MPLT—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · MPLT
MapLight Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel therapies for central nervous system disorders, with its lead candidate ml-007c-ma entering a Phase 2 readout in late 2026.
Key risk: Clinical development uncertainty
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 6 clinical trials · 2 catalysts for MapLight Therapeutics, Inc..
MapLight Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel therapies for central nervous system disorders, with its lead candidate ml-007c-ma entering a Phase 2 readout in late 2026.
- Cash & equivalents of $71.6M as of 2026-06-30 [sec].
- Net loss of $60.2M for the six months ended June 30, 2026 [sec].
- Shareholders' equity of -$215.8M as of 2026-06-30 [sec].
- Accumulated deficit of $421.2M as of March 31, 2026 [sec_mda · as of 2026-05-14].
- Lead candidate ml-007c-ma is expected to have a Phase 2 topline readout on 2026-09-30 [upcoming catalysts].
What works
- Management expects existing cash to fund operations through 2028, providing a multi-year runway for clinical development [sec_mda · as of 2026-08-13].
- The company has a clear near-term catalyst with a Phase 2 topline readout for ml-007c-ma scheduled for September 30, 2026 [upcoming catalysts].
What to weigh
- The company has a significant accumulated deficit of $421.2M as of March 31, 2026, and expects to continue incurring net losses for the foreseeable future [sec_mda · as of 2026-05-14].
- Negative shareholders' equity of -$215.8M as of 2026-06-30 indicates a substantial deficit in net assets [sec].
- The company is in early-stage development and cannot reasonably estimate the costs or timelines required to complete development, obtain marketing approval, or achieve profitability [sec_mda · as of 2026-05-14].
From the filings
Quoted directly from source documents.
Cash runway through 2028
“the expected proceeds from our 2026 Private Placement, will be sufficient to fund our operations through 2028.”
SEC MD&A · August 13, 2026
Accumulated deficit as of March 31, 2026
“As of March 31, 2026, we had an accumulated deficit of $421.2 million.”
SEC MD&A · May 14, 2026
Net loss for six months ended March 31, 2026
“ended March 31, 2026 and 2025 were $60.7 million and $22.3 million, respectively.”
SEC MD&A · May 14, 2026
Catalyst timeline
- 2026-09-30 · Phase2_Topline — Topline readout from the Phase 2 trial of pipeline candidate ml-007c-ma.
- 2026-09-30 · Phase2_Topline · ml-007c-ma — Phase 2 readout specifically for ml-007c-ma, the company's lead product candidate.
Risks & what to watch (4)›
Key risks
- Clinical development uncertainty — Early-stage product candidates make it impossible to reasonably estimate costs, timelines, or likelihood of regulatory approval [sec_mda · as of 2026-05-14].
- Negative shareholders' equity — Shareholders' equity of -$215.8M as of 2026-06-30 indicates a significant deficit in net assets [sec].
- Capital needs and dilution risk — The company may need to raise additional capital, which could be dilutive or unavailable on acceptable terms [sec_mda · as of 2026-05-14].
- No revenue or profitability — The company has no approved products and expects to continue incurring significant net losses for the foreseeable future [sec_mda · as of 2026-05-14].
What to watch
- Phase 2 topline data for ml-007c-ma expected on 2026-09-30 [upcoming catalysts].
- Cash burn rate and any updates to cash runway guidance in future SEC filings [sec_mda · as of 2026-08-13].
- Progress in preclinical studies and any new clinical trial initiations [sec_mda · as of 2026-08-13].
- Regulatory interactions with the FDA regarding trial design and endpoints [sec_mda · as of 2026-08-13].
Sources: SEC MD&A · Generated August 26, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
19.9 months
D/E 0.06 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
2 upcoming, next in ~31d
6 buys · 125 sells (180d)
Runway
Catalysts
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
77
Total value held
$402.6M
| Holder | Shares | Value |
|---|---|---|
| novo holdings a/s | 3,686,622 | $74.9M |
| fcpm iii services b.v. | 3,226,400 | $65.6M |
| goldman sachs group inc | 1,994,873 | $40.6M |
| vanguard capital management llc | 1,439,640 | $29.3M |
| blackrock, inc. | 1,339,731 | $27.2M |
| nan fung group holdings ltd | 971,253 | $19.7M |
| pivotal bioventure partners investment advisor llc | 611,447 | $12.4M |
| velan capital investment management lp | 492,893 | $10.0M |
| geode capital management, llc | 481,201 | $9.8M |
| siren, l.l.c. | 450,000 | $9.1M |
Showing top 10 of 77 institutional holders of MapLight Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 20, 2026- % of float
- 3.4%
- Days to cover
- 6.2
- Shares short
- 1,418,306
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
MPLT short interestGovernance
Frequently asked questions
What is the AI investment thesis for MapLight Therapeutics, Inc.?
MapLight Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel therapies for central nervous system disorders, with its lead candidate ml-007c-ma entering a Phase 2 readout in late 2026.
What is MapLight Therapeutics, Inc.'s next catalyst?
MapLight Therapeutics, Inc.'s next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: pipeline candidate" — expected September 30, 2026.
Who is the CEO of MapLight Therapeutics, Inc.?
Dr. Christopher A. Kroeger M.B.A., M.D., Ph.D. is the chief executive officer of MapLight Therapeutics, Inc. (MPLT).
Where is MapLight Therapeutics, Inc. headquartered?
MapLight Therapeutics, Inc. (MPLT) is headquartered in Redwood City, CA, United States.
What therapeutic areas does MapLight Therapeutics, Inc. focus on?
MapLight Therapeutics, Inc. develops therapies across Oncology, Neurology, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.