Biopharmaceutical company MapLight Therapeutics (MPLT.US) applies for a US stock IPO, aiming to raise up to $100 million.

Focus on the development of therapies for neurological and psychiatric disorders as well as central nervous system (CNS) diseases, the biotechnology company MapLight Therapeutics (MPLT.US), in phase 2 clinical stage, submitted an application to the U.S. Securities and Exchange Commission (SEC) last Friday, planning to raise up to $100 million in funds through an initial public offering (IPO). The core candidate drug of MapLight is ML-007C-MA, a fixed-dose combination formulation consisting of M1/M4 muscarinic acetylcholine receptor agonist and peripheral acting anticholinergic drug. It is initially being developed for the treatment of schizophrenia and Alzheimer's disease psychosis (ADP). Currently, the company is conducting two phase 2 clinical trials for ML-007C-MA: one for the treatment of schizophrenia, with top-line data expected to be announced in the second half of 2026; and another for the treatment of ADP, with top-line data expected to be announced in the second half of 2027. This company, headquartered in Redwood City, California, was founded in 2018 and plans to list on the Nasdaq Stock Exchange with the stock code MPLT. MapLight Therapeutics submitted a confidential IPO application on March 8, 2024. The joint lead underwriters for this transaction are Morgan Stanley, Jefferies Financial Group Inc., Leerink Partners, and Stifel, and the company has not yet disclosed the pricing terms for the offering.