Developer · MPLT · United States

MapLight Therapeutics, Inc.

Clinical-stage biopharmaceutical company headquartered at 800 Chesapeake Drive, Redwood City, California (Nasdaq Global Select Market: MPLT since 2025-10-27), incorporated in Delaware. Its stated approach is to identify neural circuits causally linked to disease and target those circuits for therapeutic modulation. Lead candidate ML-007C-MA (M1/M4 muscarinic agonist ML-007 co-formulated with the peripherally acting anticholinergic fesoterodine) is in Phase 2 for schizophrenia (ZEPHYR) and Alzheimer's disease psychosis (VISTA). Second candidate ML-004 (an immediate-release/extended-release formulation of zolmitriptan, a 5-HT1B/1D agonist) is in Phase 2 for autism spectrum disorder (IRIS). Preclinical programs: ML-009 (GPR52 PAM), ML-055 (next-generation M1/M4 muscarinic agonist, including a potential long-acting injectable) and ML-021 (M4 antagonist for motor deficits in Parkinson's disease). Raised a $372.5M Series D in July 2025 and $258.9M gross in its October 2025 IPO plus concurrent private placement; $395.2M in cash and investments at 2026-03-31, guided to fund operations through 2027.

maplightrx.com ↗

1compound
2programs
2indications
Phase 2lead asset

Phase distribution

  • Phase 22

Modality

  • Small molecule 1

Mechanism focus

Pipeline (1)

Deals & partnerships

  • Oct 26, 2025FinancingMapLight prices its IPO at $17.00 per share for $258.9 million grossMapLight priced an initial public offering of 14,750,000 shares of common stock at $17.00 per share, alongside a concurrent private placement of 476,707 shares to affiliates of Goldman Sachs & Co. Combined expected gross proceeds $258.9 million, before a 30-day underwriter option for up to 2,212,500 additional shares. Shares began trading on Nasdaq on 2025-10-27 under the symbol MPLT; the offering was expected to close 2025-10-28. Joint book-running managers: Morgan Stanley, Jefferies, Leerink Partners and Stifel.ML-007C-MAsource ↗
  • Jul 28, 2025FinancingMapLight raises a $372.5 million Series DMapLight announced an oversubscribed $372.5 million Series D financing co-led by Forbion and Life Sciences at Goldman Sachs Alternatives, with participation from new investors including Sanofi, accounts advised by T. Rowe Price Investment Management and Avego BioScience Capital. Proceeds were directed at the Phase 2 programs for ML-007C-MA in schizophrenia and Alzheimer's disease psychosis and ML-004 in autism spectrum disorder.ML-007C-MAsource ↗

Catalysts · 2 upcoming

  • by mid-August 2026Anticipated

    ML-007C-MAforSchizophreniaTopline data

    Topline results from the Phase 2 ZEPHYR trial of ML-007C-MA (210/3 mg BID and 330/6 mg QD) versus placebo in acute exacerbation of schizophrenia — primary endpoint change from baseline in PANSS total score at Week 5 — expected by mid-August 2026.

    NCT07038876source ↗

  • 2H 2027Anticipated

    ML-007C-MAforAlzheimer's disease psychosisTopline data

    Topline results from the Phase 2 VISTA trial of ML-007C-MA 210/3 mg BID versus placebo in hallucinations and delusions associated with Alzheimer's disease psychosis — primary endpoint change from baseline in NPI-C H+D score at Week 7 — expected in the second half of 2027.

    NCT06887192source ↗

Recent activity

  • May 1, 2026Phase changeML-007C-MA·SchizophreniaPhase 2Enrollment completed in ZEPHYR with 307 participants randomised 1:1:1 (placebo / 210/3 mg BID / 330/6 mg QD), and topline guidance set to 'by mid-August of 2026'. The trial stopped recruiting at this point; ClinicalTrials.gov subsequently moved it to Completed with actual primary completion 2026-06-04 and actual study completion 2026-06-11. The program remains active pending topline and through the open-label extension NCT07459647.source ↗
  • Aug 15, 2025Phase changeML-007C-MA·Alzheimer's disease psychosisPhase 2Actual start date of VISTA (NCT06887192, ML-007C-MA-221) per ClinicalTrials.gov, marking the program's entry into Phase 2 in Alzheimer's disease psychosis — about seven weeks after the schizophrenia trial started, and roughly six months later than the 'first half of 2025' guidance given in December 2024. MapLight announced the initiation on 2025-09-17. Still recruiting as of the registry's 2026-05-15 update.source ↗
  • Jun 27, 2025Phase changeML-007C-MA·SchizophreniaPhase 2Actual start date of ZEPHYR (NCT07038876, ML-007C-MA-211) per ClinicalTrials.gov, marking the program's entry into Phase 2 in schizophrenia. The registry record was first posted 2025-06-26 and MapLight announced the initiation publicly on 2025-07-07, roughly six months later than the 'first half of 2025' guidance given in December 2024.source ↗
  • Dec 2, 2024Phase changeML-007C-MA·SchizophreniaPhase 1MapLight reported results from the fourth and final Phase 1 trial (Study ML-007-013), the first to use the bi-layer co-formulated ML-007C-MA tablet — then still called ML-007/PAC: 82 healthy adult and elderly volunteers across four cohorts dosed up to 14 days, favourable safety and tolerability, mild and transient TEAEs with no severe or serious events, plasma and CSF exposures above clinically relevant levels on both once- and twice-daily dosing, similar PK in adults and elderly, and no fasted-state requirement. This completed a Phase 1 package of four trials, 270 healthy participants and more than 1,500 doses of ML-007. The release guided to initiating Phase 2 in schizophrenia and ADP in the first half of 2025. NOTE: none of the four Phase 1 trials is registered on ClinicalTrials.gov, so this milestone is documented from the sponsor only.source ↗
  • Dec 2, 2024Phase changeML-007C-MA·Alzheimer's disease psychosisPhase 1MapLight reported results from the fourth and final Phase 1 trial (Study ML-007-013), the first to use the bi-layer co-formulated ML-007C-MA tablet — then still called ML-007/PAC: 82 healthy adult and elderly volunteers across four cohorts dosed up to 14 days, favourable safety and tolerability, mild and transient TEAEs with no severe or serious events, plasma and CSF exposures above clinically relevant levels on both once- and twice-daily dosing, similar PK in adults and elderly, and no fasted-state requirement. Completing a Phase 1 package of four trials, 270 healthy participants and more than 1,500 doses of ML-007. Directly relevant to ADP: the elderly cohort is what established the 210/3 mg BID ceiling used in VISTA, since 330/6 mg QD was not tolerated in healthy elderly participants. The release guided to initiating Phase 2 in schizophrenia and ADP in the first half of 2025. NOTE: none of the four Phase 1 trials is registered on ClinicalTrials.gov, so this milestone is documented from the sponsor only.source ↗

Trials recruiting · 4 recruiting of 6 sponsored

  • Phase 2ML-007C-MAn=5005 sites · United States

    An Open-Label Study to Assess the Long-Term Safety, Tolerability, and Effectiveness of ML-007C-MA in Adult Participants With Schizophrenia

    SchizophreniaNCT07459647 ↗

  • Phase 2ML-007C-MAn=2103 sites · United States

    An Open-Label Study to Assess the Long-Term Safety and Tolerability of ML-007C-MA in Adult Participants With Hallucinations and Delusions Associated With Alzheimer's Disease Psychosis

    Psychosis Associated With Alzheimer's DiseaseNCT07459660 ↗

  • Phase 2ML-007C-MAn=30040 sites · United States, Canada, Bulgaria

    A Randomized, Double-Blind, Placebo-Controlled Study to Assess the Efficacy and Safety of ML-007C-MA for the Treatment of Hallucinations and Delusions Associated With Alzheimer's Disease Psychosis (VISTA)

    Psychosis Associated With Alzheimer's DiseaseNCT06887192 ↗

  • Phase 2ML-004 (IR)/(ER) tabletn=12021 sites · United States, Australia, Canada

    ML-004 Open-Label Extension Study in Adults and Adolescents With Autism Spectrum Disorders (ASD)

    Autism Spectrum DisorderNCT05889273 ↗

Competitive landscape

Other companies developing against MapLight Therapeutics, Inc.'s targets or indications.