MapLight Therapeutics Raises $258.9M in Nasdaq IPO to Fund Schizophrenia Drug Development

MapLight Therapeutics, a biotech company focused on treatments for central nervous system disorders, has raised approximately $258.9 million through an initial public offering (IPO) and concurrent private placement. The company sold 14.75 million shares at $17 each and is listed on the Nasdaq under the ticker "MPLT." Goldman Sachs affiliates also purchased 476,707 shares in the private placement. MapLight intends to use up to $120 million of the proceeds to fund a phase 2 trial for its schizophrenia drug candidate ML-007C-MA, with additional funds allocated for studies targeting Alzheimer's disease psychosis, autism spectrum disorder, and preclinical research on other compounds. This IPO marks the company's public market debut amid a competitive schizophrenia treatment landscape following the approval of Bristol Myers Squibb’s Cobenfy. The offering is notable as the first biotech IPO since the recent U.S. government shutdown, highlighting MapLight's strategic financing efforts to advance its pipeline.