MapLight Therapeutics (MPLT)

Executive Summary

MapLight Therapeutics (NASDAQ: MPLT) is a clinical-stage biopharmaceutical company focused on developing novel therapies for central nervous system disorders, including autism spectrum disorder (ASD), schizophrenia, and psychosis associated with Alzheimer's disease. The company's pipeline includes two key Phase 2 assets: ML-004 for ASD and ML-007C-MA for schizophrenia and Alzheimer's psychosis. ML-004 is an oral tablet being evaluated in two Phase 2 trials targeting core and associated symptoms of ASD, with one trial expected to complete in November 2026. ML-007C-MA is a muscarinic receptor modulator being tested in schizophrenia and Alzheimer's psychosis, with a Phase 2 schizophrenia trial due to complete in August 2026 and a broader program in Alzheimer's psychosis. With a market capitalization of approximately $1.36 billion, MapLight is positioned to address significant unmet needs in neuropsychiatric conditions. Upcoming data readouts from these pivotal trials represent critical catalysts that could validate the therapeutic potential of its pipeline and drive substantial value inflection.

Upcoming Catalysts (preview)

• Q3 2026Top-line data from Phase 2 trial of ML-007C-MA in schizophrenia (NCT07038876)65% success
• Q1 2027Completion and data readout from Phase 2 trial of ML-004 in autism spectrum disorder (NCT05081245)60% success