Maze Therapeutics Inc (NASDAQ:MAZE) Reports Narrower Q2 2025 Loss, Extends Cash Runway to 2027

Maze Therapeutics Inc (NASDAQ:MAZE) Reports Q2 2025 Earnings: Narrower Loss Than Expected, Cash Runway Extends to 2027

Maze Therapeutics, a clinical-stage biopharmaceutical company focused on kidney and metabolic diseases, reported its second-quarter 2025 financial results, revealing a mixed but largely anticipated performance. The company posted no revenue for the quarter, in line with expectations, while its net loss per share came in slightly better than analyst forecasts.

Key Financial Metrics vs. Estimates

• Revenue: Reported $0.0, compared to an analyst estimate of $2.125 million. The lack of revenue was expected, as the company is still in the clinical development phase without commercialized products.
• Earnings Per Share (EPS): Reported a loss of $0.77 per share, beating the consensus estimate of a $0.87 loss. The narrower-than-expected loss was driven by disciplined spending despite increased R&D investments.
• Cash Position: The company ended the quarter with $264.5 million in cash and equivalents, up from $196.8 million at the end of 2024. Management expects this to fund operations into the second half of 2027.

Market Reaction

Following the earnings release, Maze Therapeutics saw a modest after-hours gain of 2.04%, suggesting cautious optimism among investors. The stock has been under pressure over the past month, declining 14.18%, but the better-than-expected EPS and strong cash position may provide some relief.

Clinical Pipeline Updates

The earnings report highlighted progress in Maze’s two key clinical programs:

1. MZE829 (APOL1-Mediated Kidney Disease - AMKD)

   • Currently enrolling patients in the Phase 2 HORIZON trial, with initial proof-of-concept data expected in Q1 2026.
   • Targets a subset of chronic kidney disease affecting over one million U.S. patients.

2. MZE782 (Chronic Kidney Disease & Phenylketonuria - PKU)

   • Phase 1 trial in healthy volunteers is ongoing, with biomarker and proof-of-mechanism data expected in Q3 2025.
   • If successful, Phase 2 trials in CKD and PKU are planned for 2026.

Financial Outlook vs. Analyst Estimates

While Maze did not provide formal guidance, analysts project:

• Q3 2025 EPS Estimate: -$0.93 (no revenue expected).
• Full-Year 2025 EPS Estimate: -$3.73, with estimated sales of $2.55 million.

The absence of revenue guidance is typical for a pre-revenue biotech firm, leaving investor focus on clinical milestones rather than near-term financial performance.

Conclusion

Maze Therapeutics’ Q2 results reflect a company in transition, balancing clinical progress with financial discipline. The narrower loss and extended cash runway provide stability, while upcoming clinical readouts in late 2025 and early 2026 remain the critical catalysts for the stock.

For more detailed earnings estimates and future projections, visit Maze Therapeutics’ earnings page.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions.