MapLight's Schizophrenia Drug Fails Once-Daily Test, Shares Plunge 55%
MPLT sits 18% above its 52-week low of $12.24.
Summary
MapLight's ML-007C-MA missed the primary endpoint in the once-daily arm of the Phase 2 ZEPHYR trial, failing to show statistically significant symptom improvement versus placebo. The twice-daily arm succeeded, meeting the primary and key secondary endpoints, but the once-daily failure undermines a key differentiator against Bristol Myers Squibb's Cobenfy. Shares are down 55% premarket, erasing a large portion of the company's ~$1.56B market cap. This follows the June 22 IRIS trial miss for ML-004 in autism, compounding pipeline risk. The company plans to discuss a registrational path with the FDA, but the mixed data and recent CFO departure add uncertainty. Alzheimer's psychosis data in H2 2027 is the next major catalyst.
At the time of this announcement, MPLT was trading at $14.42 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $12.24 to $40.43. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.