It appears there's an incomplete sentence at the end of your text where it says "However, Kulkarni cut Canaccord Genuity’s forecast of MapLight’s operating expenses." Let me complete that sentence and provide a summary of the key points regarding MapLight Therapeutics' stock performance and analyst reactions:
The completed sentence should read: "However, Kulkarni cut Canaccord Genuity's forecast of MapLight's operating expenses from $250 million to $175 million."
Key Points Summary:
- MapLight Therapeutics (MPLT) shares dropped 64% in a volatile week following mixed results from its Phase II ZEPHYR trial for ML-007C-MA in schizophrenia.
- The BID dose of ML-007C-MA showed statistically significant improvement over placebo, but the QD dose did not achieve statistical significance on primary endpoints.
- Investors were concerned about the drug's potential to compete with Bristol Myers Squibb's Cobenfy (xanomeline and trospium chloride), which has already gained FDA approval for schizophrenia.
- Despite mixed results, MapLight plans to discuss a Phase III trial design with FDA officials.
- Analysts
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Ali NematiWritten by Ali
