Maze Therapeutics jumps on $150 mln share offering for kidney disease drugs

T. Rowe Price

22/04/2026 17:25

** Maze Therapeutics' MAZE.O shares up 6% to $27.23 on Weds after biopharma raises $150 mln to advance development of its kidney disease drugs

** MAZE early Weds announced pricing offering of ~5.5 mln shares and pre-funded warrants to buy 850,000 shares at $23.50

** Both new and existing investors participated, including Farallon Capital Management, accounts advised by T. Rowe Price, a large U.S.-based healthcare-focused fund, a leading mutual fund, among healthcare dedicated funds, co said

** It intends to use net offering proceeds for R&D of product candidates, including MZE829 for treatment of APOL1-mediated kidney disease and MZE782 for treatment of phenylketonuria and chronic kidney disease

** Leerink Partners sole underwriter

** Prior to this offering, MAZE had ~49.7 mln shares outstanding

** On Mar 25, MAZE said MZE829 reduced protein in urine, a key sign of kidney damage, in a mid-stage study. It also reported net loss for Q4 and 2025 of $34.6 mln and $131 mln, respectively, compared to net loss of $29.6 mln and net income of $52 mln in comparable periods in 2024

** Including gain on Weds, shares down 34% YTD including ~44% drop over the past month

** Of 12 analysts, 5 rate the stock "strong buy", 7 rate "buy"; median PT $57.50, according to LSEG data

** MAZE went public in Jan 2025 IPO at $16

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))