MapLight ready to go with IPO
US CNS specialist MapLight Therapeutics has filed a registration statement on Form S-1 with the US Securities and Exchange Commission in connection with the start of a proposed initial public offering (IPO) of its common stock.
MapLight is looking to raise more than $250 million in the IPO. The sale of about 14.8 million shares at $17 apiece suggests a $704.3 million valuation of the Californian company, which has announced a proposed concurrent sale of 476,707 shares of common stock at the public offering price per share, in a private placement to affiliates of Goldman Sachs.
The firm was founded with the intention of addressing the lack of circuit-specific pharmacotherapies available for patients. Its lead product candidate, ML-007C-MA, is an oral, extended-release, fixed-dose combination of an investigational M1/M4 muscarinic agonist, ML-007, co-formulated with a peripherally acting anticholinergic.
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