MapLight Therapeutics Reports Phase 2 IRIS Trial Missed Primary Endpoint in Autism

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MapLight Therapeutics announced that its Phase 2 IRIS trial evaluating ML-004 in autism spectrum disorder did not meet its primary endpoint of improving social communication at Week 12. A prespecified analysis showed clinically meaningful improvements in irritability among adolescents with moderate or higher baseline irritability compared with placebo, and the treatment was generally well tolerated with mostly mild-to-moderate adverse events. Separately, Raymond James initiated coverage with a Strong Buy rating and a $46 price target, highlighting potential upside ahead of the Phase 2 ZEPHYR trial readout for ML-007C-MA expected by mid-August. The firm also noted MapLight's Alzheimer's disease psychosis program as a potential value driver.

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