MPLT MapLight Therapeutics, Inc.
Price Chart
Executive Summary
CEO Christopher Kroeger sold $3.21M of MPLT stock on May 18, four days after the company reported Q1 2026 results (net loss widened to $60.7M from $22.3M YoY). The sale is 0.27% of market cap — modest but notable given the CEO's insider status, the timing just after earnings, and the pending Phase 2 readouts (ZEPHYR, IRIS) due by mid-August. No 10b5-1 plan context is present in the cluster data, elevating the informational signal.
Key Financial Metrics
Actionable Insight
The CEO's first open-market sell of this magnitude in the cluster window — with no disclosed 10b5-1 plan — is a cautionary signal ahead of binary Phase 2 data in August. While the sale is not massive in isolation, insider sale cluster post-earnings before a major catalyst is a pattern that historically carries negative drift. Monitor for additional insider sales or any pre-announcement of data results. If the CEO sells further ahead of August data, sentiment should be downgraded further.
Key Facts
- CEO Kroeger sold 118,037 shares for $3.21M on May 18 at $27.19/share.
- GC Kristopher Hanson sold 284 shares for ~$8K on May 11.
- Total cluster value: ~$3.22M, representing ~0.27% of MPLT's $1.2B market cap.
- Sale occurred 4 days after Q1 2026 earnings: net loss widened to $60.7M vs $22.3M YoY, R&D spend rose to $53.7M from $19.8M.
- Cash runway $395.2M sufficient through 2027; no imminent financing need.
- Phase 2 topline data for ML-007C-MA (schizophrenia) and ML-004 (autism) expected by mid-August 2026 — binary catalyst ahead.
- Prior reports on MPLT show 100% T+20 win rate (n=4 settled), suggesting prior calls were well-calibrated but this is the first bearish directional read.
Financial Impact
CEO sold ~$3.2M, or 0.27% of market cap, 4 days post-earnings and pre-pivotal data.
Risk Factors
- CEO may have additional unregistered sales planned; further selling would amplify bearish read.
- Phase 2 ZEPHYR (schizophrenia) and IRIS (autism) data due mid-August; a miss would be severely punishing for a clinical-stage biotech.
- R&D burn rate is accelerating ($53.7M/quarter); cash runway only through 2027, limited operating history.
- Historical calibration shows this segment's T+20 alpha is net negative (-1.84%) after trading costs — directional sells on early-stage biotechs have poor risk/reward.
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MPLT-1779154060728 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 19, 2026
1d ago
|
Insider Cluster
| — | awaiting T+5 | — | — |
|
May 6, 2026
14d ago
|
Insider Cluster
| $29.04 $30.30 | ▲ +4.34% | ▲ +3.21% | $27.81 (−4.24%) |
|
May 4, 2026
16d ago
|
144
| $27.92 $30.30 | ▲ +8.52% | ▲ +6.54% | $27.81 (−0.39%) |
|
May 4, 2026
16d ago
|
144
| $27.92 $30.30 | ▲ +8.52% | ▲ +6.54% | $27.81 (−0.39%) |
|
May 1, 2026
19d ago
|
Press Release
| $30.70 $27.40 | ▼ −10.75% | ▼ −13.10% | $27.81 (−9.41%) |
|
Apr 27, 2026
23d ago
|
144
| $30.31 $28.61 | ▼ −5.61% | ▼ −7.30% | $27.81 (−8.25%) |
|
Apr 27, 2026
23d ago
|
Insider Cluster
| $30.64 $28.61 | ▲ +6.63% | ▲ +7.03% | $27.81 (+9.24%) |
|
Apr 15, 2026
5w ago
|
144
| $28.51 $29.11 | ▲ +2.10% | ▲ +1.12% | $27.81 (−2.46%) |
|
Apr 15, 2026
5w ago
|
144
| $28.51 $29.11 | ▲ +2.10% | ▲ +1.12% | $27.81 (−2.46%) |
|
Apr 15, 2026
5w ago
|
144
| $28.51 $29.11 | ▲ +2.10% | ▲ +1.12% | $27.81 (−2.46%) |
US Market Status
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