MapLight raises $150M PIPE, Q2 net loss $60.2M; ZEPHYR Phase 2 met primary endpoint

MapLight Therapeutics, Inc.

$150M PIPE: 9,197,887 shares at $11.38/share plus pre-funded warrants for 3,983,168 shares; closes Aug 14, 2026
Q2 2026 net loss $60.2M vs $29.8M YoY; R&D $53.4M vs $26.8M; cash $351.3M at June 30, 2026
Phase 2 ZEPHYR trial of ML-007C-MA in schizophrenia met primary endpoint; Phase 3 ZEPHYR-2 topline expected 2028
Phase 2 VISTA trial in Alzheimer's disease psychosis enrolling; topline expected H2 2027; Fast Track designation
ML-004 Phase 2 IRIS missed primary endpoint in autism; showed improvement in adolescent irritability subgroup

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