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MapLight Therapeutics Announces Positive Topline Results from Phase 2 ZEPHYR Trial of ML-007C-MA in Schizophrenia

(Very High)
(Positive)

MapLight Therapeutics (Nasdaq: MPLT) reported positive topline results from its Phase 2 ZEPHYR trial of ML-007C-MA in adults with acute exacerbation of schizophrenia. The 210/3 mg twice-daily dose met the primary endpoint, delivering a statistically significant reduction in PANSS total score versus placebo at Week 5 (effect size 0.37; LS mean difference -4.5; p=0.015) in the mITT population and an effect size of 0.50 (LS mean difference -6.0; p=0.002) in completers.

The BID dose also achieved significance on key secondary measures including CGI-S (effect size 0.48; p=0.002), PANSS positive Marder factor (effect size 0.39; p=0.012), and showed a notable cognitive benefit in patients with baseline cognitive impairment (effect size 0.51; 0.44-point improvement; p=0.041). ML-007C-MA was generally well tolerated, with no serious or drug-related severe adverse events and low GI-related discontinuations (2.0% at BID). MapLight plans an End-of-Phase 2 FDA meeting and additional registrational trials, including a Phase 3 study in schizophrenia and ongoing VISTA trial in Alzheimer’s disease psychosis.

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Positive

  • Primary endpoint met in Phase 2 ZEPHYR: BID dose PANSS LS mean difference vs placebo -4.5 (p=0.015) in mITT; -6.0 (p=0.002) in completers
  • Cognitive performance benefit in impaired subgroup with BID dose (effect size 0.51; 0.44-point improvement vs placebo; p=0.041)
  • Key secondary endpoints achieved with BID dose on CGI-S (effect size 0.48; p=0.002) and PANSS positive Marder factor (effect size 0.39; p=0.012)
  • Favorable safety and tolerability with no serious or drug-related severe TEAEs, 19.9% all-cause discontinuation, and GI-related discontinuations of 2.0% at 210/3 mg BID
  • Regulatory and development momentum with planned End-of-Phase 2 FDA meeting and Phase 3-enabling program for ML-007C-MA in schizophrenia
  • Pipeline breadth supported by Phase 2 IRIS data for ML-004 in ASD irritability and ongoing VISTA trial in Alzheimer’s disease psychosis

Negative

  • Once-daily 330/6 mg dose delivered only numerical improvement and did not reach statistical significance on the primary PANSS endpoint
  • High incidence of TEAEs at BID dose with 74.7% of participants reporting treatment-emergent adverse events versus 48.1% on placebo, despite most being mild

News Explained

The BID result supports another confirmatory study, while the once-daily regimen remains unresolved pending further analysis and FDA discussion.

MapLight Therapeutics reported topline Phase 2 results from ZEPHYR and says the data support an additional confirmatory trial, with planning and site identification underway.

The next development step remains subject to FDA discussion: the company plans an End-of-Phase 2 meeting about a Phase 3 design that, together with ZEPHYR, would support an initial NDA. ML-007C-MA is described as an oral, extended-release fixed-dose combination designed to pair central M1/M4 activity with a peripheral anticholinergic component.

The 330/6 mg once-daily regimen improved numerically but did not reach statistical significance on the primary endpoint, and the company is conducting further analyses to determine its path forward. At the 210/3 mg twice-daily dose, treatment-emergent adverse events occurred in 74.7% of participants versus 48.1% with placebo, although most were mild; GI-related discontinuation was 2.0%.

The named checkpoints are the End-of-Phase 2 FDA meeting and the ongoing VISTA trial, for which topline results are expected in the second half of 2027.

Market Context

The clinical-trial history averaged a 1.8% move across four tag-matched events. ZEPHYR adds primary ...
Analysis

The clinical-trial history averaged a 1.8% move across four tag-matched events. ZEPHYR adds primary and secondary endpoint results; recent insider activity was net selling, while FDA engagement and confirmation remain watch points.

Key Figures

Primary endpoint effect size: 0.37 PANSS improvement: 4.5 points Primary endpoint p-value: p=0.015 +5 more
8 metrics
Primary endpoint effect size 0.37 210/3 mg BID dose, modified intent-to-treat population
PANSS improvement 4.5 points Mean improvement versus placebo at Week 5
Primary endpoint p-value p=0.015 210/3 mg BID dose versus placebo
Completer effect size 0.50 Five-week treatment completer analysis
Cognitive effect size 0.51 Prespecified secondary endpoint in participants with baseline cognitive impairment
Trial enrollment 307 participants Randomized 1:1:1 in the ZEPHYR Phase 2 trial
All-cause discontinuation 19.9% Across both active treatment arms
TEAE rate 74.7% vs 48.1% 210/3 mg BID dose versus placebo

Previous Clinical trial Reports

4 past events · Latest: Jun 22 (Negative)
Same Type Pattern 4 events
Date Event Sentiment 24h Move Catalyst
Jun 22 Phase 2 trial results Negative +3.4% IRIS missed its primary endpoint despite positive adolescent subgroup findings.
May 01 Trial enrollment completion Neutral -3.7% ZEPHYR enrollment completed and topline timing was updated to mid-August.
Jan 09 Trial timing update Positive +4.8% Accelerated enrollment narrowed expected Phase 2 topline timing to the third quarter.
Jan 05 Fast Track designation Positive +2.7% FDA granted Fast Track designation for Alzheimer’s disease psychosis development.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Tag-matched clinical-trial news produced mixed outcomes, with positive reactions to both favorable and mixed developments.

Key Terms

cgi-s, modified intent-to-treat, pharmacokinetics, end-of-phase 2 meeting
4 terms
cgi-s medical
"including Clinical Global Impression of Severity (CGI-S)"
CGI-S (Clinical Global Impressions – Severity) is a simple, clinician-rated scale that scores how severe a patient’s illness is at a given time, usually on a 1–7 range where higher scores mean worse symptoms. Investors watch CGI-S in clinical trial reports because it gives a quick, standardized snapshot of whether a treatment produces meaningful clinical improvement—like a single thermometer reading that summarizes how much a patient’s condition has changed.
modified intent-to-treat technical
"In the modified intent-to-treat (mITT) population"
A modified intent-to-treat (mITT) population is a version of a clinical trial analysis that includes most but not all people who were originally randomized, typically excluding those who never received the study treatment or lacked key baseline data. For investors, mITT matters because it can change how effective or safe a drug appears compared with a strict all-randomized analysis; thinking of it like judging a recipe only from cooks who actually made the dish helps explain how the choice of who is counted can shift results and influence regulatory and market reactions.
pharmacokinetics medical
"synchronizing the pharmacokinetics of the agonist and antagonist components"
Pharmacokinetics is the study of how a substance, such as a drug or chemical, moves through and is processed by the body over time. It tracks how it is absorbed, distributed, broken down, and eventually eliminated. For investors, understanding pharmacokinetics helps gauge the effectiveness, safety, and potential risks of new medications or treatments, which can influence a company’s success and valuation in the healthcare industry.
end-of-phase 2 meeting regulatory
"engage with the FDA at an End-of-Phase 2 (EOP2) meeting"
An end-of-phase 2 meeting is a formal discussion between a drug developer and a regulatory agency to review mid-stage clinical results and agree on the plan and requirements for the larger, final tests needed for approval. It matters to investors because the meeting can clarify what evidence regulators will require, shape the cost and timeline for the next phase, and reduce uncertainty about whether a drug can advance toward market — like a checkpoint that determines whether a project gets the green light to move to the next, expensive stage.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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The trial, designed and sized to support registration, met its primary endpoint, with the 210/3 mg BID dose demonstrating a statistically significant improvement in PANSS total score compared to placebo at Week 5 with an effect size of 0.37 (LS mean difference vs PBO -4.5, p=0.015)

Cognitive performance was improved (ES=0.51, p=0.041) in those with baseline cognitive impairment on a prespecified secondary endpoint

210/3 mg BID dose also achieved significant separation on key secondary endpoints, including CGI-S (ES=0.48, p=0.002) and PANSS Positive Marder Factor (ES=0.39, p=0.012)

ML-007C-MA was generally well tolerated at both doses studied, with no serious or drug-related severe adverse events and low rates of GI-related discontinuations

No fasting requirement and a one-dose titration support a tolerability profile expected to translate into real-world adherence

Data support proceeding with an additional trial, also designed to be registrational, to replicate this result; Company to engage with FDA at End-of-Phase 2 Meeting

Company to host live webcast today at 8:00 AM ET

SAN FRANCISCO and BOSTON, July 27, 2026 (GLOBE NEWSWIRE) -- MapLight Therapeutics, Inc. (Nasdaq: MPLT), a clinical-stage biopharmaceutical company focused on improving the lives of patients suffering from debilitating central nervous system disorders, today announced positive topline results from its Phase 2 ZEPHYR trial evaluating ML-007C-MA, an oral M1/M4 muscarinic agonist (betovumeline) co-formulated with a peripherally acting anticholinergic (fesoterodine), in adults with an acute exacerbation of schizophrenia. The trial met its primary endpoint, with the 210/3 mg twice-daily (BID) dose demonstrating a statistically significant and clinically meaningful reduction in Positive and Negative Syndrome Scale (PANSS) total score compared to placebo at Week 5.

In the modified intent-to-treat (mITT) population, the BID arm achieved an effect size of 0.37 (Cohen’s d) and these participants experienced a mean 4.5-point improvement in PANSS total score versus placebo (p=0.015). In a prespecified analysis of participants who completed five weeks of treatment, in which there are no modelled assumptions for missing data, the effect size was 0.50 (LS mean difference from placebo -6.0, p=0.002), driven by greater improvement in the treatment arm rather than the placebo arm. ML-007C-MA also achieved significance on key secondary endpoints in the BID arm, including Clinical Global Impression of Severity (CGI-S) (effect size=0.48; p=0.002), PANSS positive Marder factor (effect size=0.39; p=0.012), and multiple other secondary and exploratory outcomes.

Notably, ML-007C-MA demonstrated a robust and clinically meaningful improvement in cognitive performance in the BID arm, based on the pre-specified secondary endpoint assessed via the Cogstate battery in participants with baseline cognitive impairment (effect size=0.51; 0.44 points versus placebo; p=0.041). This cognitive benefit did not demonstrate correlation with the change in PANSS score, suggesting the effect was independent of, and not secondary to, improvement in psychotic symptoms.  

“We are very encouraged by these results, which show that ML-007C-MA delivered clinically meaningful antipsychotic efficacy alongside a favorable tolerability profile designed to translate into real-world use," said Chris Kroeger, M.D., Co-Founder and Chief Executive Officer of MapLight. "Just as importantly, we observed a robust signal on a pre-specified secondary cognition endpoint that appears independent of antipsychotic effect. Cognitive impairment affects the majority of people living with schizophrenia and remains an area where no therapy has yet been approved. We believe the combination of a significant effect on PANSS and other concordant endpoints, along with a meaningful effect on cognitive performance, represents a powerful, comprehensive overall efficacy profile in schizophrenia, and strengthens the rationale for our ongoing VISTA trial in Alzheimer's disease psychosis and the broader indication expansion for ML-007C-MA."

The 330/6 mg once-daily (QD) dose, which results in lower daily exposure than BID dosing, demonstrated numerical improvement over placebo, but did not achieve statistical significance on the primary endpoint. However, it did demonstrate separation on CGI-S (p=0.036), PANSS positive Marder factor (p=0.045), and Readiness for Discharge Questionnaire (p=0.027) and numerical separation on several other endpoints. The Company is conducting further analyses to inform the potential path forward for a once-daily regimen.

Safety and Tolerability

ML-007C-MA was generally well tolerated across all doses studied. Treatment-emergent adverse events (TEAEs) were mostly mild and primarily cholinergic in nature, and there were no serious adverse events or drug-related severe TEAEs with either dose. The only severe TEAE in an active arm was a case of pneumonia, which was assessed as unrelated to study treatment. One serious TEAE of worsening schizophrenia occurred in the placebo arm. All-cause discontinuation across both active arms was low, at 19.9%.

At the 210/3 mg BID dose, TEAEs were reported in 74.7% of participants compared with 48.1% receiving placebo, with most events mild in severity. Gastrointestinal events were mostly mild and rarely associated with discontinuation (two participants, 2.0%), and there were low rates of moderate GI events. No participant failed to reach target dose due to tolerability, and dose reductions due to TEAEs were infrequent (four participants, or 4.0%, three of whom completed treatment).

The rates of anticholinergic events were low, and no clinically meaningful signals were observed with ML-007C-MA for urinary retention, metabolic or hepatic parameters, extrapyramidal symptoms, or blood pressure. Small increases in heart rate were observed, consistent with the known profile of fesoterodine. With no fasting requirement and a short, one-dose titration, these clinical trial results are expected to translate into real-world use, supporting patient adherence and compliance. "Despite recent advances in schizophrenia treatment, patients and clinicians continue to need therapies that pair meaningful symptom control with a tolerability profile patients can sustain over time," said John M. Kane, M.D., Professor of Psychiatry and Molecular Medicine at the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell, Co-Director of the Institute for Behavioral Science at the Feinstein Institutes for Medical Research, and member of MapLight Therapeutics' Clinical Advisory Board. "The ZEPHYR results are notable on both fronts: a statistically significant improvement on the primary endpoint and cognitive performance, alongside a meaningfully differentiated safety profile that matters most for the management of patients over time. If confirmed in a further study and approved, ML-007C-MA could offer physicians a valuable additional tool in the treatment arsenal for people living with schizophrenia."

Future Development

The Company plans to engage with the FDA at an End-of-Phase 2 (EOP2) meeting to discuss the path forward for ML-007C-MA in schizophrenia, including the design of a Phase 3 trial which, together with ZEPHYR, would support an initial New Drug Application (NDA) submission. Planning and site identification for this additional, confirmatory trial are already underway ahead of the MapLight's EOP2 FDA interactions. The Company is also planning a separate confirmatory trial to evaluate the BID dose used in ZEPHYR along with other dosing regimens, including a possible QD option. VISTA, MapLight’s ongoing trial designed to support registration for the treatment of hallucinations and delusions associated with Alzheimer's disease psychosis, is also evaluating ML-007C-MA 210/3 mg BID (the same dose associated with the cognitive effect in ZEPHYR), with topline results expected in the second half of 2027.

Additionally, the Company recently reported results for IRIS, a Phase 2 trial evaluating ML-004, an 5-HT1B/1D agonist in autism spectrum disorder (ASD), where a prespecified subgroup analysis in adolescents with significant baseline irritability demonstrated meaningful improvement over placebo on both caregiver- and clinician-rated scales alongside a favorable safety and tolerability profile. Based on these results, the Company intends to engage with the FDA in an EOP2 meeting to determine the next steps for development of ML-004 in irritability associated with ASD.

Live Webcast

The Company will host a live webcast to discuss the Phase 2 ZEPHYR trial results today, Monday, July 27, 2026, at 8:00 a.m. ET. Those who would like to participate may access the live webcast here, or register in advance for the teleconference here.

The event will also be accessible through the "Events and Presentations" page within the Investors section of the Maplight website at https://ir.maplightrx.com/news-events/events-presentations. An archived replay will also be available on the website for at least 90 days following the event.

About ZEPHYR

ZEPHYR is a randomized, double-blind, placebo-controlled trial at 25 US sites that evaluated the efficacy, safety, and tolerability of ML-007C-MA in inpatient adult participants with schizophrenia experiencing an acute exacerbation of psychosis. A total of 307 participants were randomized 1:1:1 to receive either placebo, ML-007C-MA 210/3 mg twice daily, or ML-007C-MA 330/6 mg once daily. The primary endpoint for the trial was the change in PANSS total score from baseline to Week 5. Key secondary endpoints included change in CGI-S score and PANSS-Marder positive and negative factor scores from baseline to Week 5. Change in cognitive function in participants with baseline cognitive impairment from baseline to Week 5 was assessed as a prespecified secondary endpoint.

About ML-007C-MA

ML-007C-MA is an oral, extended-release, fixed-dose combination of the investigational M1/M4 muscarinic agonist ML-007 (betovumeline), co-formulated with a peripherally acting anticholinergic (fesoterodine). ML-007C-MA is designed to activate both M1 and M4 muscarinic receptors in the central nervous system to drive efficacy, while synchronizing the pharmacokinetics of the agonist and antagonist components to mitigate peripheral cholinergic side effects.

About MapLight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of patients suffering from debilitating central nervous system disorders. The Company was founded by globally recognized leaders in psychiatry and neuroscience research to address the lack of circuit-specific pharmacotherapies available for patients. The Company’s discovery platform holds the potential to fill this void by identifying neural circuits causally linked to disease and targeting those circuits for therapeutic modulation.

For more information, please visit www.maplightrx.com.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, the clinical development and potential benefits of ML-007C-MA and ML-004, the design, timing and conducting of future clinical trials, the registrational pathway for the Company’s product candidates, including holding EOP2 meetings with the FDA for ML-007C-MA and ML-004 and planned regulatory submissions, the availability and timing of results from the Company’s Phase 2 VISTA trial, and the potential benefits of the Company’s discovery platform. Words such as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “develop,” “plan” or the negative of these terms, and similar expressions, are intended to identify forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in the Company’s filings with the U.S. Securities and Exchange Commission (SEC)), many of which are beyond the Company’s control and subject to change. Actual results could be materially different. Risks and uncertainties include: the unpredictable relationship between preclinical study results and clinical study results; the risk that results obtained in any clinical trials to date may not be indicative of results obtained in ongoing or future trials; the timing or likelihood of regulatory filings and approvals; expectations regarding the Company’s ability to fund its current operations; and other risks and uncertainties identified in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and subsequent disclosure documents the Company may file with the SEC. The Company claims the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. The Company expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.

For investor inquiries: investors@maplightrx.com

For media inquiries: media@maplightrx.com


FAQ

What did MapLight Therapeutics (MPLT) report from the Phase 2 ZEPHYR trial in schizophrenia?

MapLight Therapeutics reported that the Phase 2 ZEPHYR trial of ML-007C-MA met its primary endpoint at the 210/3 mg BID dose. According to MapLight Therapeutics, this dose produced a statistically significant PANSS reduction versus placebo at Week 5 with an effect size of 0.37 in the mITT population.

How effective was ML-007C-MA 210/3 mg BID on PANSS in MapLight’s ZEPHYR study (MPLT)?

The 210/3 mg BID dose showed a PANSS LS mean difference versus placebo of -4.5 (p=0.015) in the mITT group. According to MapLight Therapeutics, completers had an effect size of 0.50 with a -6.0-point difference (p=0.002), indicating stronger separation without imputed data.

Did MapLight Therapeutics’ ML-007C-MA show cognitive benefits in the ZEPHYR trial for schizophrenia (MPLT)?

Yes, ML-007C-MA 210/3 mg BID improved cognitive performance in participants with baseline cognitive impairment. According to MapLight Therapeutics, the prespecified Cogstate endpoint showed an effect size of 0.51 and a 0.44-point advantage over placebo (p=0.041), with effects appearing independent of PANSS changes.

What were the safety and tolerability results for ML-007C-MA in MapLight’s ZEPHYR trial (MPLT)?

ML-007C-MA was generally well tolerated at both studied doses, with mostly mild cholinergic adverse events. According to MapLight Therapeutics, there were no serious or drug-related severe TEAEs, low GI-related discontinuations (2.0% at 210/3 mg BID), and a 19.9% all-cause discontinuation rate across active arms.

How did the once-daily 330/6 mg dose perform in MapLight’s ZEPHYR trial (MPLT)?

The 330/6 mg once-daily dose showed numerical improvement over placebo but missed statistical significance on the primary PANSS endpoint. According to MapLight Therapeutics, it achieved separation on CGI-S, PANSS positive Marder factor, and Readiness for Discharge, and further analyses are ongoing to assess its potential.

What are the next development steps for ML-007C-MA in schizophrenia after ZEPHYR (MPLT)?

MapLight plans to meet with the FDA at an End-of-Phase 2 meeting to define the Phase 3 path. According to MapLight Therapeutics, planning and site identification are underway for a confirmatory registrational trial that, together with ZEPHYR, could support an initial NDA submission.

How does the ZEPHYR trial of ML-007C-MA relate to MapLight’s broader CNS pipeline (MPLT)?

ZEPHYR results support continued development of ML-007C-MA in schizophrenia and Alzheimer’s disease psychosis. According to MapLight Therapeutics, the same 210/3 mg BID dose is being used in the VISTA trial, while separate Phase 2 IRIS data support ML-004 development in ASD-related irritability.