Novo-Backed Drug Developer MapLight Therapeutics Files for IPO

MapLight Therapeutics Inc. filed for an initial public offering, becoming one of few biotechnology firms to move forward with a listing in a tough year for the sector.

The Redwood City, California-based clinical-stage biopharmaceutical firm’s lead product candidate consists of two drugs for schizophrenia and Alzheimer’s disease psychosis (ADP) delivered in a fixed-dose combination, according to MapLight’s filing Friday with the US Securities and Exchange Commission.

The treatment is in mid-stage trials, with results expected in the second half of next year for the treatment of schizophrenia and in the second half of 2027 for the treatment of ADP, the ...