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

Maze Therapeutics

25/03/2026 11:10

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

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Net Income
Miss
-$34.57 mln
-$33.53 mln (10 Analysts)
Q4 Income from Operations
Miss
-$38.06 mln
-$35.99 mln (10 Analysts)
Q4 Pretax Profit
Slight Beat*
-$34.57 mln
-$34.71 mln (7 Analysts)
Q4 Operating Expenses
$38.06 mln


*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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)