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MapLight Therapeutics, Inc.
(NASDAQ:MPLT)
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Rating:50Neutral
Price Target:
$37.00
▲(111.55% Upside)
Action:Reiterated
Date:06/24/26
Overall score reflects a strong, low-leverage balance sheet but materially worsening losses and cash burn that heighten funding/dilution risk. Technical indicators are largely neutral, valuation is weak due to negative earnings and no dividend, and corporate events are mixed with a key clinical miss offset by subgroup/safety positives and ongoing governance changes.
Positive Factors
Balance Sheet Strength
MapLight's extremely low leverage and sizable equity base provide durable financial flexibility for an early-stage biotech. This structure supports continued R&D spending without immediate liquidity pressure, allowing multi-quarter clinical programs to proceed before financing is required, preserving optionality.
Negative Factors
Widening Losses & Cash Burn
Losses and operating cash burn roughly doubled year-over-year, indicating a structurally higher spend profile tied to multiple Phase 2 programs. If this elevated burn persists, it will materially increase financing needs and dilution risk within 12–24 months, pressuring long-term capital efficiency.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
MapLight's extremely low leverage and sizable equity base provide durable financial flexibility for an early-stage biotech. This structure supports continued R&D spending without immediate liquidity pressure, allowing multi-quarter clinical programs to proceed before financing is required, preserving optionality.
Read all positive factors
MapLight Therapeutics, Inc. (MPLT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.58B
Dividend YieldN/A
Average Volume (3M)401.63K
Price to Earnings (P/E)―
Beta (1Y)1.37
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees109
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)N/A
Shares Outstanding42,618,164
10 Day Avg. Volume205,334
30 Day Avg. Volume401,626
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)1.69
Price to Sales (P/S)0.00
P/FCF Ratio-5.58
Enterprise Value/Market Cap-0.02
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit47.14
Enterprise Value/Ebitda0.14
Forecast
1Y Price Target
$41.22Price Target Upside135.69% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
MapLight Therapeutics, Inc. Business Overview & Revenue Model
Company Description
MapLight Therapeutics, Inc. is a clinical-stage biopharmaceutical firm dedicated to developing innovative treatments for individuals grappling with severe central nervous system (CNS) disorders. Its pipeline features several promising therapeutic ...
How the Company Makes Money
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MapLight Therapeutics, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
78
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -574.00K | -578.00K | -701.00K | -556.00K | -574.00K |
| EBITDA | -198.91M | -160.57M | -76.88M | -55.15M | -29.44M |
| Net Income | -199.48M | -161.15M | -77.58M | -55.71M | -30.02M |
Balance Sheet | |||||
| Total Assets | 418.79M | 479.51M | 136.92M | 91.41M | 39.39M |
| Cash, Cash Equivalents and Short-Term Investments | 310.11M | 305.10M | 108.80M | 79.77M | 27.66M |
| Total Debt | 5.59M | 5.80M | 6.58M | 5.92M | 6.27M |
| Total Liabilities | 18.95M | 21.14M | 21.72M | 20.13M | 18.52M |
| Stockholders Equity | 399.83M | 458.37M | 115.19M | 71.28M | 20.87M |
Cash Flow | |||||
| Free Cash Flow | -164.26M | -138.61M | -79.58M | -52.47M | -27.32M |
| Operating Cash Flow | -163.76M | -138.14M | -78.81M | -52.01M | -26.58M |
| Investing Cash Flow | -293.70M | -323.21M | -80.79M | -462.00K | -746.00K |
| Financing Cash Flow | 463.02M | 469.82M | 118.06M | 104.57M | 33.17M |
MapLight Therapeutics, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | $1.58B | -8.10 | -69.06% | ― | ― | ― | |
46 Neutral | $3.31M | -0.02 | -199.52% | ― | ― | 97.37% | |
45 Neutral | $956.00K | ― | ― | ― | -1.81% | -198.01% | |
45 Neutral | $5.39M | -0.25 | -203.36% | ― | ― | 93.30% | |
43 Neutral | $2.45M | -0.06 | -215.04% | ― | -100.00% | 89.96% |
* General Sector Average
MPLT
MapLight Therapeutics, Inc.
37.09
18.75
102.24%
SCNI
Scinai Immunotherapeutics
0.27
-1.88
-87.44%
GRI
GRI Bio
1.87
-39.29
-95.46%
DRMA
Dermata Therapeutics
1.34
-5.61
-80.72%
AZTR
Azitra Inc
0.15
-1.44
-90.51%
MapLight Therapeutics, Inc. Corporate Events
Executive/Board ChangesShareholder Meetings
MapLight Shareholders Back Board Slate and Auditor
Positive
Jun 24, 2026
On June 23, 2026, MapLight Therapeutics stockholders held their 2026 annual meeting, with approximately 86.56% of the 42.6 million outstanding shares present or represented by proxy. Shareholders elected three directors—Martin Babler, Troy C...
Business Operations and Strategy
MapLight Reports Phase 2 Data for Autism Candidate
Negative
Jun 22, 2026
On June 22, 2026, MapLight Therapeutics reported topline data from its Phase 2 IRIS (ML-004-002) trial evaluating ML-004 in adolescents and adults with autism spectrum disorder. The exploratory, randomized, double-blind, placebo-controlled study d...
Executive/Board Changes
MapLight Therapeutics Names Interim CFO After HR Review
Negative
Jun 18, 2026
On June 18, 2026, MapLight Therapeutics separated Chief Financial Officer Vishwas Setia following a review of a human resources violation, emphasizing that the decision was unrelated to the company’s financial or operating results, internal ...
Business Operations and StrategyFinancial Disclosures
MapLight Therapeutics Expands Pipeline Amid Rising Quarterly Losses
Negative
May 14, 2026
MapLight Therapeutics reported first-quarter 2026 results on May 14, highlighting an expanded clinical pipeline in schizophrenia, Alzheimer’s disease psychosis and autism spectrum disorder alongside rising operating expenses and losses. The ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
MapLight Therapeutics Announces Board Refresh and New Nominees
Positive
Apr 29, 2026
On April 23, 2026, MapLight Therapeutics, Inc. announced that board members Robert Malenka, M.D., Ph.D., and Jim Trenkle, Ph.D., informed the board they will not stand for reelection at the annual meeting of stockholders scheduled for June 23, 202...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.