MAZE Stock — Maze Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company harnessing the power of human genetics to develop novel, small molecule precision medicines for patients living with kidney and metabolic diseases. We are advancing a pipeline using our Compass platform, which allows us to identify and characterize genetic variants associated with health and disease and then determine how these drive risk for and protection against disease in specific patient groups through a process we refer to as variant functionalization.

Source: 10-K FY2025 via SEC EDGAR

Share price

$34.19

Market cap

$1,899.2M

Cash

$411.1M

Enterprise value

$1,527.1M

Balance sheet

Cash	$411.1M
Debt	$39.0M
Net cash	$372.1M
Enterprise value	$1,527.1M
Basic shares	55.5M shares
Fully diluted shares	68.3M shares
Fully diluted market cap	$2,336.5M
Cash per share	$7.40
Quarterly burn	$15.1M
Cash runway	27.3 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

55.5M

Pre-funded warrants

5.2M

Options

6.1M

RSUs

1.0M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.5M

FDSO

68.3M

Cap table as of 2026-06-30.

Price history

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Next catalyst

MZE829 · Now - Nov 24, 2026 Now · Phase 2 · Proteinuric Kidney Disease

Recently reported

MZE829 Mixed · 2026-03-25

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Now - Nov 24, 2026 Now	MZE829	Phase 2	Proteinuric Kidney Disease	late 2026 / early 2027 Est. Dec 30, 2026 · guidance midpoint
GUIDEDEst. Jul 2, 2027 in 8 wks guidance midpoint	MZE782 CIPheR Phase 2 in phenylketonuria	Phase 2	phenylketonuria	2027
Jan 12 - Feb 23 in 14 mo	MZE782	Phase 2	Phenylketonuria (PKU)	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

MZE829

Phase 2 · Active Modality: oral small molecule

Target APOL1 (apolipoprotein L1)

Indications

APOL1-mediated kidney disease (AMKD) (Phase 2)

Catalysts

— late 2026 or early 2027 / H1 2027

Status note Lead program. Phase 2 initiated Nov 2024 (ongoing open-label trial in adults with APOL1 high-risk genotype proteinuric CKD); topline proof-of-concept data announced Mar 2026; enrollment continuing.

MZE782

Phase 2 · Active Modality: oral small molecule

Target SLC6A19

Indications

Phenylketonuria (PKU) (Phase 2)
Chronic kidney disease (CKD) (Stage not disclosed)

Catalysts

— 2027
— H1 2027

Status note Phase 1 in healthy volunteers completed Sep 2025. Phase 2 proof-of-concept trial in PKU initiated Aug 2026; Phase 2 proof-of-concept trial in CKD planned for H1 2027.

MZE001

Phase 2 · Active Modality: oral small molecule

Aliases S606001

Target GYS1 (glycogen synthase 1)

Partnerships Shionogi & Co., Ltd.: exclusive worldwide license (Mar 2024); $150M upfront, up to $275M in clinical/regulatory milestones, up to $330M in sales milestones, tiered royalties; $20M clinical milestone achieved Mar 2026

Indications

Pompe disease (Phase 2)

Status note Partnered program fully licensed to Shionogi. Shionogi-led Phase 2 ongoing; first patient dosed Mar 2026.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	MZE829
Lead indication	Proteinuric Kidney Disease
Lead phase	Phase 2
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07694440	Phase 2	Recruiting	Sponsor	Maze Therapeutics	—	Phenylketonuria (PKU)	2027 Est. Jul 2, 2027 · guidance midpoint
NCT06830629	Phase 2	Recruiting	Sponsor	Maze Therapeutics	—	Proteinuric Kidney Disease	late 2026 / early 2027 Est. Dec 30, 2026 · guidance midpoint

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Maze Therapeutics on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Frazier Life Sciences	5,032,915	+465,641	3.27%	2026-08-14
Logos Global Management	1,935,000	+700,000	2.49%	2026-08-14
Braidwell LP	1,140,040	+1,140,040	1.26%	2026-08-14
Casdin Capital	843,857	+85,000	1.26%	2026-08-14
Sphera Biotech	417,564	+190,221	1.78%	2026-08-14
Ikarian Capital	378,999	no change	1.85%	2026-08-14
ADAR1 Capital Management	339,276	+289,181	0.48%	2026-08-14
RTW Investments	212,000	+212,000	0.05%	2026-08-14
DAFNA Capital	65,000	+30,000	0.37%	2026-08-14
Cormorant Asset Management	0	-750,000	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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MAZE — Maze Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

MAZE — Maze Therapeutics Inc.