MapLight Therapeutics Receives Fast Track Designation for ML-007C-MA for Alzheimer’s Disease Psychosis

Rhea-AI Summary

MapLight Therapeutics (Nasdaq: MPLT) announced that the U.S. FDA granted Fast Track designation to ML-007C-MA for hallucinations and delusions associated with Alzheimer’s disease psychosis (ADP).

The company reported ML-007C-MA is an investigational M1/M4 muscarinic agonist with a generally favorable safety and tolerability profile in a Phase 1 study in healthy elderly participants. MapLight is enrolling a Phase 2 VISTA study planned for 300 participants and expects to report topline results in the second half of 2027. Fast Track may enable more frequent FDA interactions and potential accelerated pathways if criteria are met.

Positive

• FDA granted Fast Track designation for ML-007C-MA
• Phase 1 showed generally favorable safety and tolerability
• Phase 2 VISTA planned enrollment of 300 participants

Negative

• Phase 2 enrollment is ongoing; no Phase 2 efficacy results yet
• Fast Track does not guarantee approval and requires meeting FDA criteria

Key Figures

Planned enrollment 300 participants Phase 2 VISTA trial in Alzheimer’s disease psychosis

IRIS enrollment ~160 participants IRIS Phase 2 study in ASD completed enrollment

Milestone potential $200 million Potential SandboxAQ preclinical, development, regulatory, commercial milestones

IPO and placement gross $296.3 million IPO and concurrent private placement gross proceeds

IPO and placement gross $296.5 million IPO and private placement gross proceeds reported in Q3 release

IPO net proceeds $269.8 million Net proceeds from Oct 2025 IPO and private placement

Quarter-end cash $227.2 million Cash, cash equivalents and short-term investments at Q3 2025 end

IPO share count 16,962,500 shares Shares sold in IPO including underwriters’ option

Market Reality Check

$16.06 Last Close

Volume Volume 230,788 is below the 20-day average of 397,751, suggesting muted trading interest pre-news. low

Technical Price $16.77 is essentially in line with the 200-day MA at $16.75, indicating a neutral longer-term trend.

Peers on Argus

No peers with momentum or same-day headlines were detected, indicating the -4.53% move was stock-specific rather than sector-driven.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 16	Strategic collaboration	Positive	-3.5%	AI-driven CNS discovery deal with up to $200M in potential milestones.
Dec 04	Earnings and pipeline	Positive	+7.7%	Q3 results, strong cash of $227.2M and multiple Phase 2 timelines.
Oct 29	IPO and capital raise	Neutral	-1.2%	IPO and private placement raising roughly $296M in gross proceeds.

Pattern Detected

News reactions are mixed: one positive event aligned with a gain, while a positive partnership coincided with a decline.

Recent Company History

Over the last few months, MapLight advanced both financing and pipeline milestones. The IPO on Oct 29, 2025 raised substantial capital, followed by Q3 results showing $227.2 million in cash expected to fund operations through 2027. A strategic CNS collaboration with SandboxAQ on Dec 16, 2025 carried up to $200 million in potential milestones yet coincided with a price decline. Today’s Fast Track designation for ML-007C-MA fits this pattern of significant R&D progress against variable price reactions.

Market Pulse Summary

This announcement highlights FDA Fast Track designation for ML-007C-MA in Alzheimer’s disease psychosis and ongoing enrollment in the Phase 2 VISTA trial targeting 300 participants. In recent months, MapLight strengthened its position with an IPO raising over $296M and Q3 cash of $227.2M, expected to fund operations through 2027. Investors may watch upcoming Phase 2 readouts across the pipeline and progress on the SandboxAQ collaboration with up to $200M in potential milestones.

Key Terms

fast track designation regulatory

"FDA has granted Fast Track designation to ML-007C-MA"

A "fast track designation" is a process that speeds up the review and approval of a product or project, allowing it to reach the market or be completed more quickly than usual. For investors, it can signal that a product may become available sooner, potentially leading to earlier revenue or benefits, and indicating a priority status that might influence company performance and market opportunities.

muscarinic agonist medical

"an investigational novel M1/M4 muscarinic agonist, for the treatment"

A muscarinic agonist is a drug that activates muscarinic acetylcholine receptors, the molecular 'switches' on cells that help control functions like heart rate, digestion, breathing and certain brain activities. Investors care because these drugs can become treatments for conditions such as dry mouth, glaucoma, Alzheimer's symptoms or bladder problems, and their safety, regulatory approval and market potential directly affect a company’s revenue prospects and risk profile.

phase 1 medical

"In a Phase 1 clinical trial, ML-007C-MA demonstrated a generally"

Phase 1 is the first stage of testing a new drug or medical treatment in people, focused primarily on safety, how the body handles the product, and finding a tolerated dose. Think of it as a short, tightly controlled experiment with a small group to check for dangerous side effects before wider testing; for investors it is an early milestone that reduces some uncertainty but still carries high risk and potential for both big value changes and setbacks.

phase 2 medical

"Enrollment is currently ongoing in the Phase 2 VISTA study, a randomized"

Phase 2 is the mid-stage clinical trial where a new drug or treatment is tested in a larger group of patients to see if it works and to keep checking safety after initial human testing. Think of it as a field test that proves whether a product actually delivers its promised benefit. Investors watch Phase 2 closely because its results strongly influence a medicine’s chances of reaching the market, the size of its potential sales, and the company’s valuation.

randomized medical

"VISTA study, a randomized, double-blind, placebo-controlled trial evaluating"

Randomized means participants or units in a study are assigned to different groups by chance rather than by choice, like flipping a coin to decide who gets a new treatment and who gets a comparison. For investors, randomized designs matter because they reduce bias and make results more trustworthy, so outcomes from randomized studies carry more weight when assessing regulatory approval, commercial prospects, and the risk that trial results will change a company’s valuation.

double-blind medical

"VISTA study, a randomized, double-blind, placebo-controlled trial evaluating"

A double-blind process means that neither the people conducting an activity nor the people involved know certain key details, such as who is receiving a treatment or a placebo. This approach helps prevent bias from influencing the results, making the outcome more trustworthy. For investors, it ensures that decisions or judgments are based on unbiased information rather than preconceived opinions or expectations.

placebo-controlled medical

"VISTA study, a randomized, double-blind, placebo-controlled trial evaluating"

"Placebo-controlled" describes a testing method where one group receives the actual treatment or intervention, while another group receives a harmless, inactive version called a placebo. This approach helps determine whether the real treatment has genuine effects beyond psychological expectations. For investors, understanding this ensures confidence that reported benefits are real and not influenced by bias or false perceptions.

topline results medical

"and report topline results in the second half of 2027."

Topline results are the initial, high-level summary of the most important outcomes from an event such as a clinical trial or a company reporting period — for a drug study this means whether the main goals were met and basic safety info, and for a company it often means headline revenue and profit figures. Investors care because these summaries act like a headline that quickly signals whether prospects have improved or worsened, often driving immediate market reactions before the full details are released.

AI-generated analysis. Not financial advice.

SAN FRANCISCO and BOSTON, Jan. 05, 2026 (GLOBE NEWSWIRE) -- MapLight Therapeutics, Inc. (“MapLight”) (Nasdaq: MPLT) today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to ML-007C-MA, an investigational novel M₁/M₄ muscarinic agonist, for the treatment of hallucinations and delusions associated with Alzheimer’s disease psychosis (ADP).

The Fast Track process is intended to facilitate the development and expedite the review of investigational therapies for serious conditions with unmet medical need. A drug with Fast Track designation may be eligible for more frequent interactions with the FDA, as well as accelerated approval and priority review, if applicable criteria are met.

“FDA’s Fast Track designation underscores the significant unmet need of the millions of people with Alzheimer’s disease psychosis with no currently approved treatment options,” said Erin Foff, M.D., Ph.D., Chief Medical Officer of MapLight. “This designation is an important milestone for the ML-007C-MA program that recognizes its potential to address the psychotic symptoms that frequently accompany the cognitive decline in people living with Alzheimer’s disease. We remain committed to working closely with the FDA to advance this program expeditiously through our ongoing Phase 2 VISTA study.”

In a Phase 1 clinical trial, ML-007C-MA demonstrated a generally favorable safety and tolerability profile with twice daily dosing in healthy elderly participants. Enrollment is currently ongoing in the Phase 2 VISTA study, a randomized, double-blind, placebo-controlled trial evaluating ML-007C-MA for the treatment of hallucinations and delusions associated with ADP. MapLight expects to enroll 300 participants in the trial and report topline results in the second half of 2027.

About ML-007C-MA

ML-007C-MA, also referred to as ML-007C/PAC, is an oral, extended-release, fixed-dose combination of the investigational M₁/M₄ muscarinic agonist, ML-007, co-formulated with a peripherally acting anticholinergic (PAC). 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. ML-007C-MA offers the potential to be a well-tolerated treatment option with convenient dosing, while achieving or exceeding CSF exposures expected to result in improvement across key symptom domains.

About Alzheimer’s Disease Psychosis (ADP)

ADP is a serious and common neuropsychiatric complication of Alzheimer’s disease (AD), characterized by the presence of delusions and/or hallucinations. Psychotic symptoms occur in approximately 40% of individuals with AD at some point throughout the course of their illness, and the likelihood of developing these symptoms increases as the disease progresses. ADP is associated with significantly poorer outcomes, including faster cognitive and functional decline, higher rates of institutionalization, and increased mortality.

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 the Company’s expectations regarding the potential benefits of its current and future product candidates and programs, plans for its current and future clinical trials, the anticipated timing of results from the Company’s clinical trials and the potential benefits of Fast Track designation. 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: global macroeconomic conditions and related volatility; expectations regarding the initiation, progress, and expected results of the Company’s preclinical studies, clinical trials and research and development programs; 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 filed with the SEC on December 4, 2025, 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 (MPLT) announce on January 5, 2026 about ML-007C-MA?

MapLight said the FDA granted Fast Track designation for ML-007C-MA for hallucinations and delusions in ADP.

What is the design and size of MapLight's Phase 2 VISTA study for ML-007C-MA (MPLT)?

The Phase 2 VISTA study is randomized, double-blind, placebo-controlled and plans to enroll 300 participants.

When does MapLight (MPLT) expect topline Phase 2 results for ML-007C-MA?

MapLight expects to report topline results in the second half of 2027.

What did Phase 1 results show for ML-007C-MA according to MapLight (MPLT)?

In Phase 1, ML-007C-MA demonstrated a generally favorable safety and tolerability profile with twice-daily dosing in healthy elderly participants.

How does FDA Fast Track affect ML-007C-MA’s development for MapLight (MPLT)?

Fast Track may allow more frequent FDA interactions and could enable accelerated approval or priority review if criteria are met.

Does FDA Fast Track designation mean ML-007C-MA is approved for Alzheimer’s disease psychosis?

No; Fast Track is a development and review pathway and does not constitute approval.