Maze Therapeutics, Inc.
- Open
- 26.32
- Day high
- 26.46
- Day low
- 25.81
- Prev close
- 26.57
- Volume
- 38K
- Mkt cap
- $1.5B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 3.2
- P/S
- 73.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$4.2M over the last 3 months (0 open-market buys, 17 sales)
- 🏛Institutions reducing (13F)
Maze Therapeutics, Inc. (MAZE) is a Healthcare company listed on NASDAQ. The stock is up 71% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 17 sales (SEC Form 4).
Maze Therapeutics, Inc. (MAZE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MAZE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 12, 2026 | $-0.72 | $-0.76 | -6.0% | — | — |
| May 12, 2026 | $-0.43 | $-0.45 | -4.7% | $20M | +88.2% |
| Mar 25, 2026 | $-0.73 | $-0.65 | +11.0% | — | — |
| Nov 6, 2025 | $-0.74 | $-0.66 | +10.8% | — | — |
| Mar 31, 2025 | $0.45 | $-18.32 | -4171.1% | — | — |
| Sep 30, 2024 | — | $-0.57 | — | $3M | — |
| Jun 30, 2024 | — | $3.18 | — | $165M | — |
| Mar 31, 2024 | — | $-0.74 | — | — | — |
| Dec 31, 2023 | — | $-0.61 | — | — | — |
| Sep 30, 2023 | — | $-0.57 | — | — | — |
MAZE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 31, 2026 | Dandekar Atulofficer: CSBO | Sell | 7,500 | $27.58 |
| Aug 31, 2026 | Dandekar Atulofficer: CSBO | Option | 7,500 | $10.42 |
| Aug 17, 2026 | Kornowski Sophiedirector | Grant | 36,000 | $27.66 |
| Aug 17, 2026 | Johnson Paula Adirector | Grant | 36,000 | $27.66 |
| Aug 14, 2026 | Bernstein Haroldofficer: President, R&D & CMO | Option | 16,142 | $10.42 |
| Aug 14, 2026 | Bernstein Haroldofficer: President, R&D & CMO | Sell | 16,142 | $27.61 |
| Aug 5, 2026 | Coloma Jason Vdirector, officer: Chief Executive Officer | Sell | 30,304 | $26.71 |
| Aug 5, 2026 | Coloma Jason Vdirector, officer: Chief Executive Officer | Sell | 2,439 | $26.71 |
| Aug 5, 2026 | Coloma Jason Vdirector, officer: Chief Executive Officer | Sell | 154 | $27.09 |
| Aug 5, 2026 | Coloma Jason Vdirector, officer: Chief Executive Officer | Sell | 1,604 | $27.09 |
| Jul 31, 2026 | Dandekar Atulofficer: CSBO | Sell | 7,100 | $27.31 |
| Jul 31, 2026 | Dandekar Atulofficer: CSBO | Sell | 400 | $27.89 |
| Jul 31, 2026 | Dandekar Atulofficer: CSBO | Option | 7,500 | $10.42 |
| Jul 2, 2026 | Coloma Jason Vdirector, officer: Chief Executive Officer | Sell | 2,593 | $29.98 |
| Jul 2, 2026 | Coloma Jason Vdirector, officer: Chief Executive Officer | Sell | 1,597 | $30.44 |
Source: MAZE SEC Form 4 filings, latest Aug 31, 2026. For informational purposes only — not investment advice.
See the full MAZE insider & 13F page →Maze Therapeutics, Inc. company profile
Overview
Maze Therapeutics, Inc. (NASDAQ:MAZE) is a clinical-stage biopharmaceutical company founded in 2017 and headquartered in South San Francisco, California. Originally incorporated as Modulus Therapeutics, Inc., the company changed its name to Maze Therapeutics in September 2018. The company went public on January 31, 2025, representing one of the first biotechnology IPOs of the year. Maze focuses on developing precision medicines for serious diseases affecting the kidneys, cardiovascular system, and related metabolic conditions, with a particular emphasis on genetic-based therapeutic approaches.
Business
Maze Therapeutics operates in the precision medicine biotechnology sector, specifically targeting genetic drivers of kidney disease, cardiovascular disorders, and metabolic conditions including obesity. The company's approach centers on developing small molecule drugs that target specific genetic variants known to cause or contribute to disease. The company's pipeline consists of two primary programs. MZE829 is an oral small molecule inhibitor targeting apolipoprotein L1 (APOL1), currently in Phase II clinical trials for treating patients with APOL1-mediated kidney disease. APOL1 is a protein that, when present in certain genetic variants, significantly increases the risk of chronic kidney disease and kidney failure, particularly in individuals of African descent. This represents a substantial unmet medical need, as APOL1 variants affect millions of people worldwide and are associated with a dramatically higher risk of kidney disease progression. The second program, MZE782, is an oral small molecule inhibitor of the solute transporter SLC6A19, currently in Phase I clinical trials for chronic kidney disease treatment. SLC6A19 is a transporter protein in the kidneys that plays a crucial role in amino acid reabsorption. By inhibiting this transporter, the drug aims to reduce kidney workload and potentially slow disease progression. Both programs represent the company's core strategy of identifying genetic targets that drive disease and developing small molecule therapeutics to modulate these pathways. This precision medicine approach allows for more targeted treatment of patients based on their genetic profiles, potentially improving efficacy while reducing side effects compared to traditional broad-spectrum therapies.
Revenue model
Maze Therapeutics operates under a traditional biopharmaceutical development model, where revenue generation depends on successfully advancing drug candidates through clinical trials, obtaining regulatory approval, and eventually commercializing products through direct sales or licensing partnerships. Currently, the company generates no meaningful recurring revenue, as evidenced by minimal revenue figures in recent quarters (with the exception of a $167.5 million revenue spike in FY 2024, likely from a one-time licensing or partnership deal). The company's path to profitability relies on several potential revenue streams. First, product sales revenue would come from commercializing approved drugs, either through direct sales to healthcare providers and patients or through pharmaceutical distribution networks. Second, licensing and partnership revenue can be generated by out-licensing drug candidates to larger pharmaceutical companies in exchange for upfront payments, milestone payments, and royalties on future sales. Third, collaboration revenue may come from research partnerships or joint development agreements with other biotechnology or pharmaceutical companies. Several factors could significantly impact the company's margins and financial performance. Regulatory approval success rates represent the most critical factor, as failure in clinical trials would eliminate revenue potential for affected programs. Competition from other APOL1 and kidney disease therapies could reduce market share and pricing power. Healthcare reimbursement policies will heavily influence commercial success, as payers' willingness to cover precision medicine treatments affects patient access and pricing. Manufacturing costs and scalability will impact gross margins once products reach commercialization. Additionally, patent protection strength and duration determines the exclusivity period for revenue generation, while clinical trial costs and timelines directly affect the company's cash burn rate and time to potential profitability.
Competitive moat
Maze Therapeutics operates in a moderately defensible position within the precision medicine space, though its moat is still developing and faces significant risks. The company's primary competitive advantages stem from its focus on genetically validated targets, particularly APOL1, which represents a well-understood biological pathway with clear patient populations that can be identified through genetic testing. The company's scientific expertise and early-mover advantage in APOL1-targeted therapies provides some protection, as developing competing drugs requires substantial time, resources, and specialized knowledge. The genetic validation of APOL1 as a disease driver reduces some of the typical drug development risks, as the target's role in kidney disease is well-established through human genetics studies. Additionally, the company's small molecule approach may offer advantages over biological therapies in terms of manufacturing costs, patient convenience, and global distribution. However, the moat faces several significant challenges. Patent protection limitations mean that successful drugs will eventually face generic competition, and the company's intellectual property portfolio may not provide long-term exclusivity. Large pharmaceutical companies with substantially greater resources could develop competing APOL1 inhibitors or alternative approaches to treating the same patient populations. Regulatory and clinical trial risks remain substantial, as failure in Phase II or Phase III trials could eliminate the competitive advantage entirely. The precision medicine approach, while scientifically sound, does not guarantee commercial success. Market adoption challenges for genetic testing and personalized medicine, along with potential reimbursement hurdles, could limit the addressable market size. Additionally, alternative therapeutic approaches such as gene therapy, RNA-based medicines, or different small molecule targets could potentially offer superior efficacy or safety profiles, undermining Maze's competitive position.
Risks & safety
The company demonstrates a moderate margin of safety from a liquidity perspective but faces typical biotech risks related to cash burn and uncertain revenue generation. • Cash position: Strong with $294.4 million in cash and short-term investments as of Q1 2025, providing substantial runway for operations • Cash burn: Quarterly operating cash flow of -$29.5 million in Q1 2025, suggesting approximately 2.5 years of runway at current burn rate • Debt level: Minimal debt with debt-to-equity ratio of 0.088, indicating low financial leverage • Current ratio: Excellent at 16.1, demonstrating strong short-term liquidity • Solvency risk: Low in the near term due to strong cash position, but dependent on successful clinical trials or additional financing • Valuation metrics: Trading at 1.08x book value, which appears reasonable for a clinical-stage biotech with substantial cash • Revenue generation: Currently pre-revenue with no consistent income stream, making traditional valuation metrics less applicable • Market cap: Approximately $566 million, representing a premium to net cash but reasonable for the development stage • Other considerations: Recent IPO provides additional financial flexibility, but clinical trial outcomes remain the primary value driver with binary risk/reward characteristics typical of biotech investments.
Recent development
Based on the financial data, Maze Therapeutics has made significant progress in advancing its clinical programs and strengthening its financial position. The company successfully completed its initial public offering in January 2025, raising substantial capital that significantly improved its cash position from approximately $29 million at the end of 2023 to nearly $300 million by Q1 2025. The most notable development was the advancement of MZE829 into Phase II clinical trials for APOL1 kidney disease, representing a critical milestone in the company's lead program. This progression demonstrates that the drug candidate showed sufficient safety and potential efficacy signals in earlier-stage trials to warrant larger, more definitive studies. Simultaneously, the company has been advancing MZE782 through Phase I trials for chronic kidney disease, expanding its pipeline of kidney-focused therapeutics. The company's financial profile shows typical biotech development patterns, with consistent research and development spending reflected in quarterly losses of approximately $25-30 million. However, the substantial revenue recognition of $167.5 million in FY 2024 suggests the company may have entered into a significant partnership, licensing agreement, or other strategic transaction, though specific details are not available from the financial data alone. The successful IPO and resulting cash position provides Maze with the financial runway necessary to complete its current clinical trials and potentially advance additional programs. This capital raise timing appears strategic, as it provides resources during a critical period when both lead programs are in active clinical development phases.
MAZE company profile · for informational purposes only — not investment advice.
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