MapLight Raises $150 M PIPE To Fund CNS Pipeline
(RTTNews) - MapLight Therapeutics, Inc. (MPLT) announced it has priced a $150 million private placement financing with institutional and accredited investors.
The deal includes 9.2 million shares of common stock at $11.38 per share and 4.0 million pre-funded warrants at $11.3799 each, exercisable at $0.0001 per share with no expiration.
The financing is expected to close on August 14, 2026, subject to customary conditions.
Use of Proceeds
Maplight intends to use the funds to support ML-007C-MA, its lead candidate for central nervous system disorders. Proceeds will advance the ongoing VISTA Phase 2 study in Alzheimer's disease psychosis and the ZEPHYR-2 registrational Phase 3 study in schizophrenia, alongside an open-label safety study. The company also plans to engage the FDA at an End-of-Phase 2 meeting to finalize Phase 3 trial design for schizophrenia, aiming toward a New Drug Application submission.
Financial Position
As of June 30, 2026, MapLight reported $351.3 million in cash, cash equivalents, and investments. With the PIPE proceeds, management expects funding to be sufficient through 2028.
Transaction
Morgan Stanley, Jefferies, Leerink Partners and Stifel are acted as placement agents. Cooley LLP served as counsel to MapLight, while Latham & Watkins LLP advised the placement agents.
MPLT has traded between $9.10 and $40.43 over the past year. The stock is currently trading at $11.79, up 3.60%.
