MapLight Therapeutics Inc. Common Stock (MPLT)

FairStock Score: 26/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett and Graham style investor, I start with whether the business earns money and has a durable moat. MapLight is clinical-stage. In FY2024, the year ended 2024-12-31, net income was $-77.6M; in FY2025, the year ended 2025-12-31, net income was $-161.2M. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was $-60.7M, and in fiscal Q2 2026, the quarter ended 2026-06-30, net income was $-60.2M. Revenue is not available in filed figures, so there is no earnings-based valuation or proven commercial moat, only pipeline assets ML-007C-MA, ML-004, and ML-021. The balance sheet shows low leverage, with D/E of 0.01, but cash burn is severe: trailing free cash flow is $-175.1M and FairStock calculates FCF yield at -52.4%. FairStock also calculates ROE of -111.55%, ROCE of -67.11%, Piotroski F-Score of 1/9, and Altman Z-Score of 9.15. At the 2026-10-13 close of $7.88, market cap is $334.2M; P/B is 1.03 and P/E is -0.39, both FairStock calculations. A P/B near 1 might look undemanding, but book value is funding losses. The 52-week range is $7.85 to $40.43, so sentiment is poor. FairStock assigns no Lynch category because only two years of filed results exist. This is a speculative clinical-stage security, not a Graham bargain until trial success or revenue provides a margin of safety.

In plain English: MapLight Therapeutics is a clinical-stage biopharma company trying to develop medicines for brain-related conditions such as schizophrenia, autism, and Parkinson's disease. It has no product sales yet and is losing a lot of money, so the business looks weak today. The stock trades near its 52-week low, and while the price is not obviously high compared with the value of its assets minus debts, it is hard to call it cheap because the company depends on future drug trials and may need more cash.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer