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北京时间·🕒 发布 19:00:18时区推断·⟳ 抓取 19:03:09·⚡ 决策 07-27 19:07:32 +4m23s·92.0 天前

MapLight公布ML-007C-MA精神分裂症二期ZEPHYR阳性顶线数据

ML-007C-MA二期ZEPHYR达到主要终点,210/3mg BID组PANSS较安慰剂改善4.5分、p=0.015,并在CGI-S、PANSS阳性因子和认知受损亚组认知终点上有统计学分离。

📄 原文MPLT↗ 原文
MapLight Therapeutics Announces Positive Topline Results from Phase 2 ZEPHYR Trial of ML-007C-MA in Schizophrenia The t…
▲ 做多MapLight TherapeuticsMPLT.US🇺🇸小仓
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做多 MPLT.US MapLight Therapeutics

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做多 MPLT.US MapLight Therapeutics

收益状态-26.08% 已平仓
进场成交2026-07-27 · 盘前首笔 · 07-27 19:05 北京 · @12.9457
离场成交2026-07-28 · 常规开盘 · @9.5849
毛收益-25.96%
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建仓日2026-07-27 · 进场不早于新闻时刻 + 2 分钟

收益口径 event_time_plus_2min_10min_walk_open_topup_to_next_open_exchange_calendar_fill_model_local_notional_v9 · method_id m8db1cbc8f2d · 截至 2026-10-27 19:39

研究档案

🔎 新鲜度:最早出现 2026-07-27 · 扩散 low · price-in 风险 medium ↗ ↗ ↗

消息传播链

  1. 2026-05-01官方确认/否认MapLight IR一手源原文 ↗
    公司此前确认ZEPHYR已完成入组,并预告顶线结果将在2026年8月中旬前公布,说明读出窗口已被市场预期。
  2. 2026-07-14行业媒体转载AppliedXL Biopharma News非一手原文 ↗
    行业媒体在读出前报道试验已完成并即将公布结果,传播了事件日历但未披露阳性结果。
  3. 2026-07-27 07:00 ET首发MapLight IR / GlobeNewswire一手源原文 ↗
    公司一手发布ZEPHYR阳性顶线数据,BID剂量达到主要终点并支持进入额外注册性试验。
    市场反应:事件发生时美股仍处盘前,尚未形成常规交易时段价格反应。

关键理由

  • ML-007C-MA二期ZEPHYR达到主要终点,210/3mg BID组PANSS较安慰剂改善4.5分、p=0.015,并在CGI-S、PANSS阳性因子和认知受损亚组认知终点上有统计学分离。
  • 这是公司核心临床资产的注册支持型二期读出,前期市场只知道读出将在8月中旬前公布,今天的阳性结果是新增去风险事件。
  • 公司仍为临床期、无收入,最近披露一季度现金及投资约3.95亿美元、可支持运营至2027年;本事件主要抬升ML-007C-MA进入三期和潜在适应症扩展的期权价值,相对约16.6亿美元市值有短线重定价空间。

主要风险

  • 疗效幅度弱于KarXT和部分同类高光先例,且QD剂量未达主要终点,开盘若大幅高开可能出现临床数据兑现后的高开低走。
  • 仍需额外注册性试验复现并与FDA沟通,二期阳性不能直接等同NDA确定性;若后续医学会议或管理层电话会披露安全性/脱落率细节弱化,则应退出。

反向证据

  • 做多前查反向 · 来源 web · 日期 2026-05-14 · 影响 none
    公司披露现金可支持至2027年,未发现短期资金链反证,但临床期公司后续三期仍需资金。
    检索:MapLight Therapeutics cash runway Q1 2026 ML-007C-MA risks 原文 ↗
  • 做多前查反向 · 来源 web · 日期 2026-07-27 · 影响 weakens
    330/6mg QD剂量主要终点未达统计显著,削弱便利给药叙事并提高数据混合风险。
    检索:ML-007C-MA schizophrenia Phase 2 ZEPHYR QD dose not statistically significant 原文 ↗
  • 做多前查反向 · 来源 web · 日期 2024-08-28 · 影响 weakens
    同类精神分裂症二期数据即使达标,若剂量反应混合或相对竞品不够强,也可能被市场惩罚。
    检索:Neurocrine NBI-1117568 schizophrenia phase 2 mixed results stock down 原文 ↗

历史先例(按相似度)

  • 相似度 8/10 AVXL 2025-10-02 Anavex公布ANAVEX3-71精神分裂症二期顶线阳性,小中盘CNS二期去风险但临床终点强度弱于MPLT。 原文 ↗
    事件后 +1日 +9.1% · +2日 +5.3% · +3日 +7.1% · +4日 +7.9% · +5日 +4.3%
    相似度依据:同为美股精神分裂症二期阳性顶线读出且机制为M1调节相关,但主终点更偏安全耐受/生物标志物而非明确PANSS疗效主终点。
  • 相似度 8/10 RVPH 2021-04-26 Reviva公布RP5063/brilaroxazine急性精神分裂症二期完整阳性数据,234例、PANSS主终点达标。 原文 ↗
    事件后 +1日 -16.1% · +2日 -26.6% · +3日 -32.4% · +4日 -33.7% · +5日 -33.0%
    相似度依据:同为美股小盘精神分裂症二期PANSS阳性数据,但事件日已大幅拉升,次日明显回落,更像高开后派发样本。
  • 相似度 8/10 KRTX 2019-11-18 Karuna公布KarXT治疗精神分裂症急性精神病二期阳性结果,市场视为突破性数据。 原文 ↗
    KRTX在消息当日上午一度上涨约233%。
    相似度依据:同为精神分裂症新机制药物临床读出,但KarXT二期疗效更强且后来成为同类标杆。
  • 相似度 7/10 CERE 2021-06-29 Cerevel公布CVL-231精神分裂症1b阳性数据,两个剂量均在PANSS上显著改善。 原文 ↗
    CERE盘前被报道上涨约136%。
    相似度依据:同为精神分裂症muscarinic机制早期临床阳性,但CERE为1b且样本/阶段弱于MPLT注册支持型二期。
  • 相似度 6/10 ALKS 2015-01-07 Alkermes公布ALKS 3831二期12周阳性结果,疗效等效并改善体重相关指标。 原文 ↗
    事件后 +1日 -2.3% · +2日 -2.4% · +3日 +2.8% · +4日 +0.9% · +5日 +1.3%
    相似度依据:同为美股精神分裂症二期阳性读出,但ALKS为更成熟公司且ALKS 3831是改良组合疗法,弹性低于小盘单管线突破。
  • 相似度 6/10 NBIX 2024-08-28 Neurocrine的NBI-1117568二期低剂量达标,但更高剂量未达标,投资者认为数据混合。 原文 ↗
    事件后 +1日 +3.8% · +2日 +2.7% · +3日 +1.1% · +4日 -1.0% · +5日 -2.1%
    相似度依据:同为精神分裂症muscarinic相关二期阳性,但只有低剂量成功且大药企收入基数更大,市场反而惩罚混合数据。
  • 相似度 5/10 ALKS 2015-04-06 Alkermes公布ALKS 3831六个月完整二期顶线阳性,延续此前12周阳性结果。 原文 ↗
    事件后 +1日 +1.1% · +2日 +5.2% · +3日 +4.1% · +4日 +5.7% · +5日 +7.5%
    相似度依据:同项目后续完整二期顶线确认,适应症一致但不是首次核心去风险,抢跑和信息增量均弱于MPLT。
  • 相似度 5/10 TEVA 2024-05-08 Teva/Medincell公布TEV-749月度长效奥氮平三期SOLARIS阳性,所有剂量PANSS改善显著。 原文 ↗
    事件后 +1日 +1.6% · +2日 +3.2% · +3日 +7.2% · +4日 +8.6% · +5日 +6.6%
    相似度依据:同为美股精神分裂症临床阳性读出且PANSS达标,但为三期长效奥氮平、大药企市值稀释明显。
  • 相似度 4/10 BMY 2025-04-22 BMS公布Cobenfy辅助治疗精神分裂症三期ARISE未达统计显著,用于观察同适应症读出失败的交易反应。 原文 ↗
    事件后 +1日 -2.6% · +2日 -2.3% · +3日 -3.9% · +4日 -2.7% · +5日 -1.2%
    相似度依据:同为精神分裂症核心资产读出且同Cobenfy/muscarinic叙事相关,但结果为阴性三期辅助治疗且BMY市值过大,只作反面读出基准。
  • 相似度 4/10 NERV 2020-05-29 Minerva公布roluperidone精神分裂症阴性症状三期未达主终点和关键次要终点。 原文 ↗
    事件后 +1日 +13.5% · +2日 +5.1% · +3日 +5.9% · +4日 +14.8% · +5日 +5.7%
    相似度依据:同为美股小盘精神分裂症临床读出,但为三期阴性症状失败,事件方向与MPLT相反,只能作失败/反弹结构参考。
  • 相似度 4/10 2186 2026-06-17 绿叶制药公布LY03015在中国二期TD适应症阳性,属于CNS精神科相邻疾病小分子二期读出。 原文 ↗
    事件后 +1日 +0.5% · +2日 -2.5% · +3日 -4.6% · +4日 -3.5% · +5日 -7.1%
    相似度依据:同为CNS精神科相邻疾病二期阳性读出,但不是精神分裂症且为港股,流动性和涨跌机制不同。

原文全文

展开原文 · 8,000 字
MapLight Therapeutics Announces Positive Topline Results from Phase 2 ZEPHYR Trial of ML-007C-MA in Schizophrenia
The trial, designed and sized to support registration, met its primary endpoint, with the 210/3 mg BID dose demonstrating a statistically significant improvement in PANSS total score compared to placebo at Week 5 with an effect size of 0.37 (LS mean difference vs PBO -4.5, p=0.015)
Cognitive performance was improved (ES=0.51, p=0.041) in those with baseline cognitive impairment on a prespecified secondary endpoint
210/3 mg BID dose also achieved significant separation on key secondary endpoints, including CGI-S (ES=0.48, p=0.002) and PANSS Positive Marder Factor (ES=0.39, p=0.012)
ML-007C-MA was generally well tolerated at both doses studied, with no serious or drug-related severe adverse events and low rates of GI-related discontinuations
No fasting requirement and a one-dose titration support a tolerability profile expected to translate into real-world adherence
Data support proceeding with an additional trial, also designed to be registrational, to replicate this result; Company to engage with FDA at End-of-Phase 2 Meeting
Company to host live webcast today at 8:00 AM ET
SAN FRANCISCO and BOSTON, July 27, 2026 (GLOBE NEWSWIRE) -- MapLight Therapeutics, Inc. (Nasdaq: MPLT), a clinical-stage biopharmaceutical company focused on improving the lives of patients suffering from debilitating central nervous system disorders, today announced positive topline results from its Phase 2 ZEPHYR trial evaluating ML-007C-MA, an oral M1/M4 muscarinic agonist (betovumeline) co-formulated with a peripherally acting anticholinergic (fesoterodine), in adults with an acute exacerbation of schizophrenia. The trial met its primary endpoint, with the 210/3 mg twice-daily (BID) dose demonstrating a statistically significant and clinically meaningful reduction in Positive and Negative Syndrome Scale (PANSS) total score compared to placebo at Week 5.
In the modified intent-to-treat (mITT) population, the BID arm achieved an effect size of 0.37 (Cohen’s d) and these participants experienced a mean 4.5-point improvement in PANSS total score versus placebo (p=0.015). In a prespecified analysis of participants who completed five weeks of treatment, in which there are no modelled assumptions for missing data, the effect size was 0.50 (LS mean difference from placebo -6.0, p=0.002), driven by greater improvement in the treatment arm rather than the placebo arm. ML-007C-MA also achieved significance on key secondary endpoints in the BID arm, including Clinical Global Impression of Severity (CGI-S) (effect size=0.48; p=0.002), PANSS positive Marder factor (effect size=0.39; p=0.012), and multiple other secondary and exploratory outcomes.
Notably, ML-007C-MA demonstrated a robust and clinically meaningful improvement in cognitive performance in the BID arm, based on the pre-specified secondary endpoint assessed via the Cogstate battery in participants with baseline cognitive impairment (effect size=0.51; 0.44 points versus placebo; p=0.041). This cognitive benefit did not demonstrate correlation with the change in PANSS score, suggesting the effect was independent of, and not secondary to, improvement in psychotic symptoms.
“We are very encouraged by these results, which show that ML-007C-MA delivered clinically meaningful antipsychotic efficacy alongside a favorable tolerability profile designed to translate into real-world use," said Chris Kroeger, M.D., Co-Founder and Chief Executive Officer of MapLight. "Just as importantly, we observed a robust signal on a pre-specified secondary cognition endpoint that appears independent of antipsychotic effect. Cognitive impairment affects the majority of people living with schizophrenia and remains an area where no therapy has yet been approved. We believe the combination of a significant effect on PANSS and other concordant endpoints, along with a meaningful effect on cognitive performance, represents a powerful, comprehensive overall efficacy profile in schizophrenia, and strengthens the rationale for our ongoing VISTA trial in Alzheimer's disease psychosis and the broader indication expansion for ML-007C-MA."
The 330/6 mg once-daily (QD) dose, which results in lower daily exposure than BID dosing, demonstrated numerical improvement over placebo, but did not achieve statistical significance on the primary endpoint. However, it did demonstrate separation on CGI-S (p=0.036), PANSS positive Marder factor (p=0.045), and Readiness for Discharge Questionnaire (p=0.027) and numerical separation on several other endpoints. The Company is conducting further analyses to inform the potential path forward for a once-daily regimen.
Safety and Tolerability
ML-007C-MA was generally well tolerated across all doses studied. Treatment-emergent adverse events (TEAEs) were mostly mild and primarily cholinergic in nature, and there were no serious adverse events or drug-related severe TEAEs with either dose. The only severe TEAE in an active arm was a case of pneumonia, which was assessed as unrelated to study treatment. One serious TEAE of worsening schizophrenia occurred in the placebo arm. All-cause discontinuation across both active arms was low, at 19.9%.
At the 210/3 mg BID dose, TEAEs were reported in 74.7% of participants compared with 48.1% receiving placebo, with most events mild in severity. Gastrointestinal events were mostly mild and rarely associated with discontinuation (two participants, 2.0%), and there were low rates of moderate GI events. No participant failed to reach target dose due to tolerability, and dose reductions due to TEAEs were infrequent (four participants, or 4.0%, three of whom completed treatment).
The rates of anticholinergic events were low, and no clinically meaningful signals were observed with ML-007C-MA for urinary retention, metabolic or hepatic parameters, extrapyramidal symptoms, or blood pressure. Small increases in heart rate were observed, consistent with the known profile of fesoterodine. With no fasting requirement and a short, one-dose titration, these clinical trial results are expected to translate into real-world use, supporting patient adherence and compliance. "Despite recent advances in schizophrenia treatment, patients and clinicians continue to need therapies that pair meaningful symptom control with a tolerability profile patients can sustain over time," said John M. Kane, M.D., Professor of Psychiatry and Molecular Medicine at the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell, Co-Director of the Institute for Behavioral Science at the Feinstein Institutes for Medical Research, and member of MapLight Therapeutics' Clinical Advisory Board. "The ZEPHYR results are notable on both fronts: a statistically significant improvement on the primary endpoint and cognitive performance, alongside a meaningfully differentiated safety profile that matters most for the management of patients over time. If confirmed in a further study and approved, ML-007C-MA could offer physicians a valuable additional tool in the treatment arsenal for people living with schizophrenia."
Future Development
The Company plans to engage with the FDA at an End-of-Phase 2 (EOP2) meeting to discuss the path forward for ML-007C-MA in schizophrenia, including the design of a Phase 3 trial which, together with ZEPHYR, would support an initial New Drug Application (NDA) submission. Planning and site identification for this additional, confirmatory trial are already underway ahead of the MapLight's EOP2 FDA interactions. The Company is also planning a separate confirmatory trial to evaluate the BID dose used in ZEPHYR along with other dosing regimens, including a possible QD option. VISTA, MapLight’s ongoing trial designed to support registration for the treatment of hallucinations and delusions associated with Alzheimer's disease psychosis, is also evaluating ML-007C-MA 210/3 mg BID (the same dose associated wi

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