Every 10-Q that Maze Therapeutics, Inc. (MAZE) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MAZE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MAZE filings page.
Maze Therapeutics, Inc. reported unaudited results for the quarter and six months ended June 30, 2026, reflecting continued investment in its kidney and metabolic disease pipeline. Cash, cash equivalents and marketable securities totaled $494.9 million, supported by a recent underwritten equity offering and a new term loan facility.
For the first half of 2026, Maze recorded $20.0 million of license revenue from a clinical milestone under its Shionogi agreement and a net loss of $68.9 million, compared with a $66.5 million net loss a year earlier. Research and development expenses rose to $69.1 million and general and administrative expenses to $25.5 million, driven by clinical trials for lead programs MZE829 (APOL1-mediated kidney disease) and MZE782 (phenylketonuria and chronic kidney disease).
Total assets were $531.6 million and total liabilities $78.5 million, including a newly funded $40.0 million tranche under a Hercules senior secured term loan facility of up to $200.0 million. Maze also put in place a $200.0 million at-the-market stock offering program, with no sales to date, and believes its current capital will fund operations for at least one year from the financial statement issuance date.
Maze Therapeutics, Inc. reported a Q1 2026 net loss of $24.2 million, narrower than the $32.8 million loss a year earlier, as it recorded $20.0 million of license revenue from a Shionogi milestone. Operating expenses rose to $46.6 million, driven by higher research and development and general and administrative costs.
The company ended March 31, 2026 with $362.9 million in cash, cash equivalents and marketable securities and had an accumulated deficit of $513.8 million. In February 2026 it put in place a $200.0 million at-the-market equity program and a Hercules term loan facility of up to $200.0 million, funding an initial $40.0 million tranche.
Maze is advancing two wholly owned clinical programs. MZE829, an APOL1 inhibitor for APOL1-mediated kidney disease, delivered positive Phase 2 proof-of-concept data and is being prepared for pivotal development. MZE782 showed favorable Phase 1 results, with Phase 2 trials in phenylketonuria and chronic kidney disease planned for 2026.
Maze Therapeutics (MAZE) reported Q3 2025 results with a net loss of $30,087,000, reflecting higher R&D and G&A spending as programs advance. There was no license revenue in the quarter, versus $2,500,000 in Q3 2024.
Operating expenses rose to $32,965,000 (R&D $25,190,000; G&A $7,775,000). Interest and other income contributed $2,878,000. Year‑to‑date, the company recorded a net loss of $96,552,000, compared to net income in 2024 driven by one‑time license payments.
Liquidity strengthened significantly in 2025. Cash, cash equivalents and marketable securities totaled $383.9 million as of September 30, 2025. The company completed an IPO in February 2025 (8,750,000 shares at $16.00, net proceeds ~$127.8 million) and a September 10, 2025 private placement (4,000,002 shares at $16.25 and 5,231,090 pre‑funded warrants at $16.249, net proceeds ~$141.3 million). A $50 million revolving line was extended to June 2026. Shares outstanding were 48,119,444 as of November 3, 2025.
Maze Therapeutics reported widening operating losses as it advances clinical programs while strengthening its balance sheet through an IPO and earlier licensing deals. For the quarter ended June 30, 2025 the company recorded a net loss of $33.7 million and a six‑month loss of $66.5 million, driven by higher research and development and public‑company costs. Research and development expense rose to $28.1 million for the quarter from $19.5 million a year earlier, reflecting clinical and manufacturing progression of lead programs.
The company completed an initial public offering that generated net proceeds of approximately $127.8 million, and held $264.5 million in cash and cash equivalents as of June 30, 2025, which management says is sufficient to fund operations for at least one year. In 2024 Maze recognized $165.0 million of license revenue from three agreements, including a $150.0 million upfront from Shionogi. The balance sheet now reflects elimination of redeemable convertible preferred stock after conversion to common shares. Overall, Maze is a clinical‑stage biotech investing heavily in R&D with one year of disclosed liquidity and no product revenue from sales.