Maze Therapeutics(NASDAQ) MAZE

Maze makes oral pills to treat serious kidney and metabolic diseases. These medicines help people with genetic conditions that damage their kidneys. The company uses human genetics to find better ways to treat patients.

What Maze Offers Patients

• MZE829: An oral medication for kidney disease caused by specific genetic variants; currently in Phase 2 clinical trials.
• MZE782: A pill designed to treat an inherited metabolic disorder and chronic kidney disease by blocking a specific transporter.
• MZE001: A treatment for Pompe disease, which is a rare condition that weakens muscles, licensed to a partner for development.
• Neuroscience Portfolio: Therapies for neurological conditions like amyotrophic lateral sclerosis, which are licensed to external pharmaceutical companies.

Strategic Partnerships and Progress

• Licensed the MZE001 program to Shionogi in March 2024 for an initial $150 million payment.
• Partnered with Neurocrine Biosciences, Inc. in May 2024 to develop a gene therapy for amyotrophic lateral sclerosis.
• Assigned the UNC13A patent portfolio to Trace Neuroscience, Inc. in April 2024 for research into neurodegenerative diseases.
• Launched a Phase 2 clinical trial for MZE829 and dosed the first patient in February 2025.

Scientific Approach and Tools

Maze uses its proprietary Compass platform to connect genetic data with specific disease risks in patient groups. This technology allows the company to design medicines that mimic protective genetic variants or block toxic ones.

The Recent Financial Picture

• Operating income was -$38.1 million in Q4 2025, a 28% deepened loss compared to Q4 2024.
• Net income reached -$34.6 million in Q4 2025, representing a 16.9% worsened loss from the previous year.
• Free cash flow was -$27.8 million in Q4 2025, which worsened by 20.4% year-over-year.
• The company reported $0 in revenue for the fiscal year ended December 31, 2025.

Bottom Line

Maze has transitioned from an early research firm to a clinical-stage company with multiple programs in human trials. Its strategy relies on licensing non-core assets to partners while focusing internal resources on kidney and metabolic health.