MapLight shares sink on mixed Phase 2 schizophrenia readout

MapLight Therapeutics' stock dropped more than 60% after mixed Phase 2 results for its schizophrenia drug ML‑007C‑MA in the ZEPHYR trial.

The 210/3 mg twice‑daily dose met the primary endpoint (PANSS total score reduction vs placebo), while the 330/6 mg once‑daily dose did not reach statistical significance.

Analysts praised the positive BID signal but noted the failure of the QD dose as a disappointment, leading to a sharp share decline from about $36.56 to under $14 within hours of the readout.

The company highlighted better‑than‑placebo numerical trends and advantages on some secondary and cognitive endpoints with the once‑daily arm, and emphasized the overall tolerability profile of ML‑007C‑MA.