MapLight Therapeutics goals to boost round $251m through an preliminary public providing (IPO), a determine that may propel the biotech to the higher echelons of the sector’s public itemizing worth up to now in 2025.
Illuminating its plans, neurological illness specialist MapLight stated it will provide 14,750,000 shares of its frequent inventory at $17.00 per share, which works out to an IPO of round $251m. The biotech will commerce on the Nasdaq World Market beneath the image “MPLT.”
By way of timings, MapLight has used a regulatory workaround to make sure the IPO goes by means of amid the US authorities shutdown. The Securities and Trade Fee (SEC) is working at a considerably diminished capability, which means public listings and different stock-related actions have stalled.
MapLight has filed beneath a selected provision of the Securities Act that stipulates a registration assertion robotically turns into efficient 20 calendar days after the date of submitting.
The biotech was eager to focus on that hurdles might nonetheless current themselves, stating that reliance on the part “might end in a lot of potential hostile penalties”. This might embody a “cease order” issued by the SEC, or the necessity for additional submitting amendments.
If the IPO had been to go-ahead easily, MapLight has already devised a plan to divvy the funds. Many of the tranche will probably be used on its lead candidate ML-007C-MA, in improvement for schizophrenia. As much as $120m will probably be used to finance the continued Section II research (NCT07038876) with the M1/M4 muscarinic agonist, which commenced final 12 months with 300 sufferers enrolled.
An additional $70m is outlaid for a separate Section II research (NCT06887192) of ML-007C-MA in Alzheimer’s illness psychosis. The rest of the IPO proceeds will probably be used on the remainder of the biotech’s pipeline, which incorporates autism spectrum dysfunction (ASD) candidate ML-004, and preclinical property for the remedy of Parkinson’s illness and hyperactivity problems.
MapLight’s work has already attracted the curiosity of huge pharma, with each Sanofi and Novo Nordisk father or mother firm Novo Holdings as monetary backers of the biotech. The corporate raised $372.5m in a hefty Collection D financing spherical. Nonetheless, MapLight has exhausted funds in its improvement efforts, with money at hand totalling $60.5m.
MapLight’s IPO would comply with the general public bounce made by fellow schizophrenia drug developer LB Prescribed drugs in September. LB examined investor waters after a freeze within the biotech IPO panorama. In the end raising $285m, LB was acquired warmly on Wall Road, in doing changing into the most important biotech IPO in 2025 up to now.
