MapLight Therapeutics Announces $258.9 Million IPO and Concurrent Private Placement

Reston, Virginia – October 27, 2025 – Cooley advised MapLight Therapeutics, a clinical-stage biopharmaceutical company focused on improving the lives of patients suffering from debilitating central nervous system disorders, on its $258.9 million initial public offering (IPO) and concurrent private placement sale of shares. MapLight offered 14,750,000 shares of common stock priced at $17 per share, with a 30-day option for the underwriters to purchase 2,212,500 additional shares. MapLight’s registration statement related to its IPO became automatically effective on October 25, 2025, pursuant to Section 8(a) of the Securities Act of 1933, and the company’s stock began trading on Nasdaq on October 27 under the ticker symbol MPLT. This represents the first biotechnology company IPO to price during a US federal government shutdown and spotlights the Securities and Exchange Commission’s government shutdown-era guidance.

In addition to the shares sold in the IPO, MapLight announced a concurrent sale of 476,707 shares of common stock at the IPO price per share in a private placement to affiliates of Goldman Sachs & Co., including certain investment funds managed by Goldman Sachs & Co.

Lawyers Christian Plaza, Mark Ballantyne, Madison Jones, Katherine Denby, David Brinton, Katie Lapidus and Heather McShea led the Cooley team advising MapLight.

Cooley has worked with MapLight since its inception and previously advised the company on its oversubscribed $372.5 million Series D in July 2025 and oversubscribed $225 million Series C in November 2023.

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