MapLight enters $150M private placement agreement, reports Q2 2026 results

MapLight Therapeutics said on August 13, 2026 that it had entered into a Securities Purchase Agreement with certain institutional investors to sell and issue 9,197,887 shares of voting common stock, along with pre-funded warrants to purchase 3,983,168 additional shares in lieu of shares, in a private placement transaction.¹ The purchase price is $11.38 per share of common stock, with pre-funded warrants priced at that amount minus $0.0001 per underlying share.¹ The company said it anticipates receiving gross proceeds of approximately $150.0 million from the private placement, before deducting placement agent fees and offering expenses.¹

Separately, the company also entered into a Registration Rights Agreement with the purchasers, under which it agreed to file a resale registration statement with the SEC within 30 days after the closing of the transaction.¹ That reference to a future closing indicates the private placement had not yet closed as of the filing date.

On the clinical side, MapLight reported that its Phase 2 ZEPHYR trial of ML-007C-MA in adults with schizophrenia experiencing acute exacerbation of psychosis met its primary endpoint, with the 210/3 mg twice-daily dose showing a statistically significant reduction in PANSS total score compared with placebo at Week 5.¹ The company said it plans to meet with the FDA at an End-of-Phase 2 meeting to discuss a registrational path, including a planned Phase 3 ZEPHYR-2 trial with topline results expected in 2028.¹

For the ADP program, topline results from the Phase 2 VISTA trial are expected in the second half of 2027.¹

Financially, cash, cash equivalents and investments were $351.3 million as of June 30, 2026.¹ Net loss for the quarter was $60.2 million, compared with $29.8 million in the same period a year earlier.¹ The company said existing cash together with proceeds from the private placement are expected to fund operations through the end of 2028.¹