MapLight Therapeutics, Inc. filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission on August 13, 2026, covering the period ended June 30, 2026.

Key Highlights

  • Net loss of $120.9 million for the six months ended June 30, 2026, compared to a net loss of $52.2 million in the same period of 2025, according to the filing.
  • Total operating expenses of $128.1 million for the first half of 2026, driven by research and development expenses of $107.1 million and general and administrative expenses of $20.9 million.
  • Cash, cash equivalents, and investments of $351.3 million as of June 30, 2026, comprising $71.6 million in cash and cash equivalents, $233.1 million in short-term investments, and $46.6 million in long-term investments.
  • Accumulated deficit of $481.4 million as of June 30, 2026, up from $360.5 million at December 31, 2025.
  • 46,377,832 shares of common stock outstanding as of August 7, 2026, including 43,650,321 shares of Voting Common Stock and 2,727,511 shares of Non-Voting Common Stock.
  • Total stockholders' equity of $348.3 million as of June 30, 2026, compared to $458.4 million at December 31, 2025.

MapLight Therapeutics Discloses Increased R&D Spend and Growing Deficit in Mid-2026

MapLight Therapeutics, Inc. (NASDAQ:MPLT), a clinical-stage biopharmaceutical company incorporated in Delaware and headquartered in Redwood City, California, reported a net loss of $60.2 million for the three months ended June 30, 2026, compared to a net loss of $29.8 million for the same quarter of 2025, according to the filing. For the six months ended June 30, 2026, the net loss totaled $120.9 million versus $52.2 million in the prior-year period.

Research and development expenses were the primary driver of operating costs, reaching $53.4 million for the second quarter of 2026 compared to $26.8 million in the second quarter of 2025, and $107.1 million for the first half of 2026 versus $46.6 million in the first half of 2025, the filing disclosed. General and administrative expenses also increased, totaling $10.1 million for Q2 2026 versus $3.8 million in Q2 2025, and $20.9 million for the first six months of 2026 compared to $7.6 million in the same 2025 period. The company reported interest income of $4.8 million and other income, net, of $2.4 million for the first half of 2026, partially offsetting operating losses.

The company's balance sheet as of June 30, 2026, showed total assets of $368.3 million, down from $479.5 million at December 31, 2025. Stock-based compensation expense for the first half of 2026 totaled $18.3 million, reflecting $9.6 million in Q1 and $8.6 million in Q2. The net loss per share, basic and diluted, was $1.32 for the three months ended June 30, 2026, and $2.66 for the six months ended June 30, 2026, based on weighted-average shares outstanding of 45,431,359 and 45,354,488, respectively.

What Was Disclosed

MapLight Therapeutics filed its 10-Q for the quarter ended June 30, 2026, disclosing a net loss of $120.9 million for the first half of 2026, significantly increased research and development spending, and a total accumulated deficit of $481.4 million, with total stockholders' equity of $348.3 million.