MPLT Stock — MapLight Therapeutics Inc.: Cash, EV, Pipeline

Share price

$10.92

Market cap

$707.3M

Cash

$304.7M

Enterprise value

$402.6M

Balance sheet

Cash	$304.7M
Debt	$0.0M
Net cash	$304.7M
Enterprise value	$402.6M
Basic shares	45.4M shares
Fully diluted shares	58.3M shares
Fully diluted market cap	$636.6M
Cash per share	$6.71

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 12 - Feb 23	ML-007C-MA	Phase 2	Psychosis Associated With Alzheimer's Disease	—
Apr 12 - May 24	ML-007C-MA	Phase 2	Psychosis Associated With Alzheimer's Disease	—
Mar 15 - Apr 26	ML-007C-MA	Phase 2	Schizophrenia	—

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

ML-007C-MA

Phase 2 · Active Modality: fixed-dose combination of M1/M4 muscarinic agonist (ML-007) co-formulated with peripherally acting anticholinergic (PAC)

Aliases ML-007

Target M1/M4 muscarinic receptors

Indications

Schizophrenia (ZEPHYR Phase 2) (Phase 2)
Alzheimer's disease psychosis (VISTA Phase 2) (Phase 2)

Catalysts

— Q3 2026
— H2 2027

Status note Lead candidate. ZEPHYR Phase 2 in schizophrenia (300 participants) reached target enrollment Apr 2026; topline expected Q3 2026. VISTA Phase 2 in ADP topline expected H2 2027. Fast Track granted Dec 2025 for hallucinations and delusions associated with ADP.

ML-004

Phase 2 · Active Modality: 5-HT1B/1D agonist

Target 5-HT1B/1D

Indications

Social communication deficit and/or irritability in autism spectrum disorder (IRIS Phase 2) (Phase 2)

Status note Second clinical-stage candidate; topline results from the IRIS Phase 2 trial announced Jun 2026.

ML-009

Preclinical · Active Modality: G-protein-coupled receptor 52 positive allosteric modulator (GPR52 PAM)

Target GPR52

Partnerships Vanderbilt University: exclusive, royalty-bearing, worldwide sublicensable license (Nov 2024)

Indications

Hyperactivity, impulsivity and agitation-related disorders (Preclinical)

Status note Preclinical candidate nominated; advancing toward IND-enabling studies.

ML-055

Preclinical · Active Modality: M1/M4 muscarinic agonist

Target M1/M4 muscarinic receptors

Partnerships NeuroSolis, Inc.: asset purchase agreement for M1/M4 agonist molecules and associated IP (contingent issuance of up to 62,083 shares)

Indications

Neuropsychiatric conditions (Preclinical)

Status note Next-generation M1/M4 muscarinic agonist program; preclinical in vitro/in vivo studies ongoing.

ML-021

Preclinical · Active Modality: M4 antagonist

Target M4

Partnerships Michael J. Fox Foundation: research grants (Feb 2020-Aug 2022)

Indications

Motor deficits in Parkinson's disease (Preclinical)

Status note Preclinical candidate finalization for IND-enabling studies.

Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	ML-004 (IR)/(ER) tablet
Lead indication	Autism Spectrum Disorder
Lead phase	Phase 2
Active trials	4

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05889273	Phase 2	Active, not recruiting	Sponsor	MapLight Therapeutics	—	Autism Spectrum Disorder	—
NCT06887192	Phase 2	Recruiting	Sponsor	MapLight Therapeutics	—	Psychosis Associated With Alzheimer's Disease	—
NCT07459660	Phase 2	Enrolling by invitation	Sponsor	MapLight Therapeutics	—	Psychosis Associated With Alzheimer's Disease	—
NCT07459647	Phase 2	Recruiting	Sponsor	MapLight Therapeutics	—	Schizophrenia	—

Sponsor-matched active trials from ClinicalTrials.gov (4 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 4 active trials for MapLight Therapeutics on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Baker Bros. Advisors	364,705	no change	0.07%	2026-08-14
ADAR1 Capital Management	26,497	-348,412	0.04%	2026-08-14

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

MPLT — MapLight Therapeutics Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders