Insider buying details
MapLight Therapeutics director George Pavlov reported multiple purchases of the company’s voting common stock in a set of transactions that total $441,167. According to the Form 4 filing with the Securities and Exchange Commission, Pavlov bought 10,658 shares on February 18, 2026, at a weighted average price of $17.48, with executed prices ranging from $17.22 to $17.72. On February 19, 2026, he acquired 4,422 shares at a weighted average of $17.57, with prices between $17.28 and $17.75. The activity continued on February 20, 2026, when he purchased 9,920 shares at an average price of $17.86, with transaction prices spanning $17.74 to $17.95.
Market context
The insider purchases occurred as the stock traded at $17.88, representing an increase of nearly 4% over the prior week. Market analysis noted that the share price appears overvalued at current levels. The company is recorded as maintaining a "GOOD" financial health score and is highlighted as having more cash than debt on its balance sheet.
Clinical development and regulatory progress
MapLight has said it accelerated the timeline for topline results from two Phase 2 trials, both now expected in the third quarter of 2026. The ZEPHYR study, which evaluates ML-007C-MA for the treatment of schizophrenia, is enrolling faster than anticipated and has reached robust enrollment of 300 hospitalized adult participants.
Separately, the U.S. Food and Drug Administration granted Fast Track designation to ML-007C-MA for the treatment of hallucinations and delusions associated with Alzheimer’s disease psychosis. The Fast Track status is intended to facilitate the drug’s development and review process under FDA procedures.
Strategic collaboration and analyst stance
The company also announced a $200 million alliance with SandboxAQ to discover and develop therapies for central nervous system disorders centered on a novel G protein-coupled receptor target. Under the agreement, SandboxAQ is eligible to receive milestone payments tied to the collaboration.
In the wake of these developments, Jefferies reiterated its Buy rating on MapLight, citing the promise of ML-007C-MA as a potential treatment for schizophrenia.
What this means
The filings document a director-level accumulation of shares over three trading days, and the corporate updates outline accelerated clinical timelines, regulatory engagement, and a substantial research alliance. Together, these items form the factual basis for the recent insider activity and ongoing investor attention.
Notes on limitations
Where the public reporting provides limited detail, this article reflects those facts without projection or inference about future outcomes. Timelines, regulatory designations, trial results, and analyst views are presented as disclosed by the company and regulatory filings.