MapLight Therapeutics' IRIS Phase 2 Trial Fails Primary Endpoint, Stock Drops 10.5%

MapLight Therapeutics announced on June 22, 2026, that its IRIS Phase 2 clinical trial for ML-007, a treatment targeting negative symptoms of schizophrenia, did not achieve its primary endpoint. The news immediately impacted the company's valuation, with its stock declining by 10.5%. The trial aimed to demonstrate ML-007's efficacy in reducing the severity of negative symptoms in schizophrenia patients. However, the drug failed to show a statistically significant improvement when compared to a placebo, indicating a setback for the experimental therapy.