MapLight Shares Plunge to 52-Week Low After Mixed Schizophrenia Trial Results

By Anvee Bhutani

MapLight Therapeutics shares plunged to a 52-week low Monday morning after investors focused on mixed results from the company's Phase 2 schizophrenia trial, in which only one of two dosing regimens met the primary endpoint.

The stock was recently down 63% at $13.61 and earlier in the session hit a 52-week low of $11.27.

The clinical-stage biotechnology company said its Phase 2 Zephyr trial met its primary endpoint after patients receiving a 210/3 milligram twice-daily dose of ML-007C-MA showed a statistically significant improvement in Positive and Negative Syndrome Scale, or PANSS, total score versus placebo after five weeks. The regimen achieved a 4.5-point improvement over placebo.

The regimen also met key secondary endpoints, including improvements in Clinical Global Impression-Severity and PANSS Positive Marder Factor scores, while demonstrating statistically significant cognitive benefits in patients with baseline cognitive impairment, MapLight said.

However, a higher 330/6 milligram once-daily dose failed to achieve statistical significance on the primary endpoint, even as it showed numerical improvement over placebo and met several secondary endpoints, including CGI-S and the PANSS Positive Marder Factor, the company said.

MapLight said ML-007C-MA was generally well tolerated at both doses, with no serious or drug-related severe treatment-emergent adverse events and low rates of gastrointestinal-related discontinuations. The company said the therapy's lack of a fasting requirement and one-dose titration could support patient adherence if approved.

The company plans to meet with the Food and Drug Administration at an end-of-Phase 2 meeting to discuss a confirmatory trial. It also said planning is underway for an additional study evaluating the twice-daily regimen and other dosing options, including a potential once-daily regimen. Top-line results from its ongoing Phase 2 Vista trial in Alzheimer's disease psychosis are expected in the second half of 2027.

Write to Anvee Bhutani at anvee.bhutani@wsj.com

(END) Dow Jones Newswires

July 27, 2026 10:53 ET (14:53 GMT)