MapLight Therapeutics

Q2 FY2026 EarningsQ2 FY26 results were largely in-line with consensus on the bottom line, with a GAAP EPS of -$1.32 vs. -$1.31 expected. While the company reported $0 revenue as anticipated for a clinical-stage biotech, GAAP Net Loss of $60.2M was slightly wider than the $60.0M estimate due to accelerated R&D spending. The highlight was the successful Phase 2 ZEPHYR trial data for ML-007C-MA and a $150M private placement, extending the cash runway through 2028 and supporting the transition to Phase 3.