Maze Therapeutics Q3 results miss estimates on higher R&D spending

Overview

• US biopharma firm's Q3 net loss widened, missing analyst expectations

• Q3 operating loss also missed analyst estimates as R&D and G&A expenses increased

• Company ended Q3 with $477 mln in cash, supporting runway into 2029

Outlook

• Maze expects HORIZON Phase 2 trial data for MZE829 in early 2027

• Company expects topline data from Phase 2 CIPheR trial of MZE782 in PKU in 2027

• Maze plans to initiate Phase 2 CKD trial for MZE782 in H1 2027

Result Drivers

• HIGHER R&D SPENDING - Co said increased research and development expenses were driven by progression of MZE829 and MZE782 clinical programs and higher personnel-related costs

• HIGHER G&A EXPENSES - Co attributed increased general and administrative expenses to higher personnel-related costs and professional services

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "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 $55.50, about 62.3% above its November 6 closing price of $34.19

Reuters Recommended Reads

• Nov 9 - Neurogene Q3 net loss widens on higher R&D and G&A costs

• Nov 9 - Compass Therapeutics Q3 net loss widens on higher R&D expenses

• Nov 9 - Spruce Biosciences Q3 net loss widens on higher R&D costs

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)