Maze Therapeutics reports bigger-than-expected Q4 loss on higher R&D costs

Overview

• US biopharmaceutical firm's Q4 net loss missed analyst expectations, income from operations also missed

• Pretax profit for Q4 slightly beat analyst estimates

• Company announced positive Phase 2 HORIZON trial data for MZE829 in AMKD, plans pivotal program

Outlook

• Company plans to advance MZE829 into a pivotal program for AMKD

• Maze expects to start two Phase 2 trials of MZE782 in PKU and CKD in 2026

• Company expects cash runway to fund operations into 2028

Result Drivers

• HIGHER R&D EXPENSES - Increase in R&D costs driven by higher clinical trial and manufacturing expenses for MZE829 and MZE782, and personnel-related costs

• HIGHER G&A EXPENSES - G&A costs rose due to higher personnel-related expenses, including non-cash stock-based compensation

• NO LICENSE REVENUE - No license revenue recognized in Q4, compared to significant upfront payment in prior year

Company press release: ID:nGNX2Vm8BL

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Maze Therapeutics Inc is $57.50, about 17.3% above its March 24 closing price of $49.00

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