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    MAZE

    Maze Therapeutics, Inc.

    Company overview

    Market capitalization
    $1.49B
    Employees
    141
    Latest publication
    2026-09-29
    About Maze Therapeutics, Inc.

    Maze Therapeutics, Inc., a clinical stage biopharmaceutical company, develops small molecule precision medicines for the treatment of kidney and metabolic diseases in the United States. Its lead programs include MZE829, an oral small molecule inhibitor of apolipoprotein L1, or APOL1, which is in phase II clinical trial for the treatment of patients with APOL1 kidney disease; and MZE782, an oral small molecule inhibitor that is in phase II ready clinical trial for the treatment of phenylketonuria and chronic kidney disease. The company also develops MZE001, an investigational oral small molecule inhibitor of muscle-specific glycogen synthase clinical program for the treatment of Pompe disease. It has a license agreement with Trace Neuroscience, Inc. to discovery research program targets UNC13A; the Shionogi & Co., Ltd to research, develop, manufacture, and commercialize MZE001; and Neurocrine Biosciences, Inc. to discover research program that targets ATXN2. The company was formerly known as Modulus Therapeutics, Inc. and changed its name to Maze Therapeutics, Inc. in September 2018. The company was incorporated in 2017 and is based in South San Francisco, California.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Research Development34,940,000USD33,704,000USD27,570,000USD25,190,000USD28,108,000USD27,580,000USD22,216,000USD19,857,000USD
    Total Operating Expenses48,035,000USD46,109,000USD37,560,000USD32,965,000USD35,825,000USD35,401,000USD29,726,000USD26,729,000USD
    Net Income-44,727,000USD-24,208,000USD-34,568,000USD-30,087,000USD-33,679,000USD-32,786,000USD-29,579,000USD-24,752,000USD
    Total Revenue—20,000,000USD0USD0USD0USD0USD0USD2,500,000USD
    Cost Of Revenue—444,000USD499,000USD—649,000USD684,000USD705,000USD788,000USD
    Gross Profit—19,556,000USD-499,000USD—-649,000USD-684,000USD-705,000USD2,500,000USD
    Selling General Administrative—12,405,000USD10,489,000USD7,775,000USD8,366,000USD7,821,000USD7,510,000USD6,872,000USD
    Operating Income—-26,553,000USD-38,059,000USD-32,965,000USD-36,474,000USD-35,401,000USD-29,726,000USD-24,229,000USD
    Interest Income—3,211,000USD3,491,000USD2,878,000USD2,795,000USD2,615,000USD1,516,000USD1,846,000USD
    Interest Expense—866,000USD———0USD——
    Net Interest Income—2,345,000USD3,491,000USD2,878,000USD2,795,000USD2,615,000USD1,516,000USD1,846,000USD
    Income Before Tax—-24,208,000USD-34,568,000USD-30,087,000USD-33,679,000USD-32,786,000USD-29,854,000USD-25,031,000USD
    Net Income From Continuing Ops—-24,208,000USD-34,568,000USD-30,087,000USD-33,679,000USD-32,786,000USD-29,579,000USD-24,752,000USD
    Ebit—-26,553,000USD-38,059,000USD-30,087,000USD-33,679,000USD-35,401,000USD-29,726,000USD-24,229,000USD
    Ebitda—-26,109,000USD-37,560,000USD-29,516,000USD-33,030,000USD-34,717,000USD-29,021,000USD-23,441,000USD
    Depreciation And Amortization—444,000USD499,000USD571,000USD649,000USD684,000USD705,000USD788,000USD
    Reconciled Depreciation—444,000USD499,000USD571,000USD649,000USD684,000USD705,000USD788,000USD
    Total Other Income Expense Net—2,345,000USD3,491,000USD2,878,000USD2,795,000USD2,615,000USD-128,000USD-802,000USD
    Tax Provision——0USD0USD0USD—-275,000USD-279,000USD
    Income Tax Expense——————-275,000USD-279,000USD
    SourceDisclosurePreliminaryLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Total Revenue0USD167,500,000USD0USD0USD
    Cost Of Revenue2,403,000USD3,297,000USD4,089,000USD3,820,000USD
    Gross Profit-2,403,000USD167,500,000USD-4,089,000USD-3,820,000USD
    Research Development108,448,000USD83,496,000USD73,945,000USD88,192,000USD
    Selling General Administrative34,451,000USD26,418,000USD24,606,000USD22,834,000USD
    Unclassified Operating Expenses-2,403,000USD———
    Total Operating Expenses140,496,000USD109,914,000USD98,551,000USD111,026,000USD
    Operating Income-142,899,000USD57,586,000USD-98,551,000USD-111,026,000USD
    Interest Income11,779,000USD4,654,000USD1,966,000USD2,028,000USD
    Net Interest Income11,779,000USD4,654,000USD1,966,000USD2,028,000USD
    Income Before Tax-131,120,000USD53,403,000USD-100,415,000USD-114,940,000USD
    Tax Provision0USD1,172,000USD0USD—
    Net Income-131,120,000USD52,231,000USD-100,415,000USD-114,940,000USD
    Net Income From Continuing Ops-131,120,000USD52,231,000USD-100,415,000USD-114,940,000USD
    Ebit-142,899,000USD57,586,000USD-98,551,000USD-111,026,000USD
    Ebitda-140,496,000USD60,883,000USD-94,462,000USD-107,206,000USD
    Depreciation And Amortization2,403,000USD3,297,000USD4,089,000USD3,820,000USD
    Reconciled Depreciation2,403,000USD3,297,000USD4,089,000USD3,820,000USD
    Total Other Income Expense Net11,779,000USD-4,183,000USD-1,864,000USD-3,914,000USD
    Income Tax Expense—1,172,000USD——
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets531,625,000USD419,710,000USD397,127,000USD422,058,000USD303,519,000USD332,840,000USD240,542,000USD192,480,000USD
    Cash And Equivalents202,643,000USD———————
    Cash And Short Term Investments411,087,000USD352,382,000USD341,917,000USD383,935,000USD264,541,000USD294,374,000USD196,812,000USD149,607,000USD
    Short Term Investments208,444,000USD153,616,000USD152,670,000USD67,162,000USD——0USD—
    Long Term Investments83,821,000USD10,556,000USD18,114,000USD———0USD—
    Total Current Assets420,423,000USD379,779,000USD349,717,000USD391,302,000USD271,150,000USD299,707,000USD201,671,000USD153,956,000USD
    Other Current Assets9,336,000USD7,397,000USD7,800,000USD6,667,000USD6,609,000USD5,333,000USD4,859,000USD4,349,000USD
    Other Non Current Assets3,460,000USD———————
    Total Liabilities78,501,000USD———————
    Total Current Liabilities22,961,000USD21,236,000USD22,556,000USD22,112,000USD19,900,000USD18,617,000USD20,673,000USD17,555,000USD
    Total Stockholder Equity453,124,000USD341,701,000USD354,966,000USD379,436,000USD262,238,000USD292,068,000USD196,904,000USD99,370,000USD
    Total Equity Including Noncontrolling Interest453,124,000USD———————
    Short Long Term Debt0USD———————
    Long Term Debt38,960,000USD38,833,000USD—————51,748,000USD
    Property Plant Equipment Net22,833,000USD23,967,000USD25,160,000USD26,458,000USD27,713,000USD28,797,000USD29,918,000USD30,932,000USD
    Accounts Payable2,212,000USD4,013,000USD1,794,000USD2,918,000USD3,666,000USD2,404,000USD1,939,000USD1,018,000USD
    Short Term Debt4,883,000USD4,838,000USD4,795,000USD4,764,000USD4,718,000USD4,674,000USD4,632,000USD4,617,000USD
    Common Stock56,000USD50,000USD49,000USD48,000USD44,000USD44,000USD2,000USD23,000USD
    Retained Earnings-558,482,000USD-513,755,000USD-489,547,000USD-454,979,000USD-424,892,000USD-391,213,000USD-358,427,000USD-313,876,000USD
    Total Liab—78,009,000USD42,161,000USD42,622,000USD41,281,000USD40,772,000USD43,638,000USD93,110,000USD
    Other Current Liab—12,385,000USD15,967,000USD14,430,000USD11,516,000USD11,539,000USD14,102,000USD11,703,000USD
    Capital Stock—50,000USD49,000USD48,000USD44,000USD44,000USD2,000USD2,000USD
    Cash—198,766,000USD189,247,000USD316,773,000USD264,541,000USD294,374,000USD196,812,000USD149,607,000USD
    Net Debt—-137,543,000USD-165,941,000USD-292,590,000USD-239,532,000USD-268,551,000USD-170,184,000USD-70,447,000USD
    Short Long Term Debt Total—61,223,000USD23,306,000USD24,183,000USD25,009,000USD25,823,000USD26,628,000USD79,160,000USD
    Net Receivables—20,000,000USD1,500,000USD700,000USD————
    Property Plant Equipment Gross—23,967,000USD44,371,000USD26,458,000USD27,713,000USD28,797,000USD46,785,000USD30,932,000USD
    Accumulated Other Comprehensive Income—-135,000USD110,000USD69,000USD————
    Common Stock Shares Outstanding—53,897,216shares42,976,024shares45,779,577shares43,850,884shares43,797,166shares43,796,057shares43,776,978shares
    Non Current Assets Total—39,931,000USD47,410,000USD30,755,999USD32,369,000USD33,132,999USD38,871,000USD38,524,000USD
    Non Current Liabilities Total—56,773,000USD19,605,000USD20,510,000USD21,381,000USD22,154,999USD22,965,000USD75,555,000USD
    Non Current Liabilities Other—388,000USD1,094,000USD1,091,000USD1,090,000USD1,006,000USD969,000USD1,012,000USD
    Non Currrent Assets Other—15,964,000USD4,136,000USD3,208,999USD3,567,000USD3,246,999USD7,865,000USD6,504,000USD
    Net Working Capital—358,543,000USD327,161,000USD369,190,000USD251,250,000USD281,090,000USD180,998,000USD136,401,000USD
    Unclassified Non Current Assets—-10,556,000USD—1,089,000USD1,089,000USD1,089,000USD1,088,000USD1,088,000USD
    Unclassified Non Current Liabilities—17,552,000USD18,511,000USD19,419,000USD20,291,000USD21,148,999USD21,996,000USD22,795,000USD
    Unclassified Equity—855,491,000USD844,305,000USD834,250,000USD687,042,000USD683,193,000USD555,327,000USD413,221,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Total Assets397,127,000USD240,542,000USD71,504,000USD149,957,000USD
    Other Current Assets7,800,000USD4,859,000USD4,952,000USD6,230,000USD
    Total Liab42,161,000USD43,638,000USD61,450,000USD48,514,000USD
    Total Stockholder Equity354,966,000USD196,904,000USD10,054,000USD101,443,000USD
    Other Current Liab15,967,000USD14,102,000USD9,807,999USD14,874,000USD
    Common Stock49,000USD2,000USD22,000USD21,000USD
    Capital Stock49,000USD2,000USD2,000USD2,000USD
    Retained Earnings-489,547,000USD-358,427,000USD-395,686,000USD-295,271,000USD
    Cash189,247,000USD196,812,000USD29,158,000USD99,919,000USD
    Cash And Short Term Investments341,917,000USD196,812,000USD29,158,000USD99,919,000USD
    Total Current Assets349,717,000USD201,671,000USD34,110,000USD106,149,000USD
    Total Current Liabilities22,556,000USD20,673,000USD16,315,999USD20,783,000USD
    Net Debt-165,941,000USD-170,184,000USD20,465,000USD-67,864,000USD
    Short Term Debt4,795,000USD4,632,000USD4,489,000USD4,324,000USD
    Short Long Term Debt Total23,306,000USD26,628,000USD49,623,000USD32,055,000USD
    Long Term Investments18,114,000USD0USD——
    Short Term Investments152,670,000USD0USD——
    Net Receivables1,500,000USD———
    Accounts Payable1,794,000USD1,939,000USD2,019,000USD1,585,000USD
    Property Plant Equipment Net25,160,000USD29,918,000USD34,984,000USD41,228,000USD
    Property Plant Equipment Gross44,371,000USD46,785,000USD48,770,000USD50,926,000USD
    Accumulated Other Comprehensive Income110,000USD———
    Common Stock Shares Outstanding42,976,024shares43,796,057shares43,776,978shares43,776,978shares
    Non Current Assets Total47,410,000USD38,871,000USD37,394,000USD43,807,999USD
    Non Current Liabilities Total19,605,000USD22,965,000USD45,134,000USD27,731,000USD
    Non Current Liabilities Other1,094,000USD969,000USD——
    Non Currrent Assets Other4,136,000USD7,865,000USD1,322,000USD1,369,999USD
    Net Working Capital327,161,000USD180,998,000USD17,794,000USD85,366,000USD
    Unclassified Non Current Liabilities18,511,000USD21,996,000USD25,054,000USD27,731,000USD
    Unclassified Equity844,305,000USD555,327,000USD405,716,000USD396,691,000USD
    Unclassified Non Current Assets—1,088,000USD1,088,000USD1,210,000USD
    Long Term Debt——20,080,000USD—
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Depreciation835,000USD
    Stock Based Compensation16,296,000USD
    Change To Liabilities-766,000USD
    Change In Working Capital-1,530,000USD
    Operating Cash Flow-54,166,000USD
    Capital Expenditures-200,000USD
    Net Investments-122,031,000USD
    Investing Cash Flow-122,231,000USD
    Net Debt Issuance39,401,000USD
    Unclassified Financing Cash Flow150,392,000USD
    Financing Cash Flow189,793,000USD
    Change In Cash13,396,000USD
    End Cash Flow203,731,000USD
    SourceDisclosureDeterministicFinal

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Net Income-24,208,000USD-34,568,000USD-30,087,000USD-33,679,000USD-32,786,000USD-29,579,000USD-24,752,000USD139,056,000USD
    Depreciation444,000USD499,000USD571,000USD649,000USD684,000USD705,000USD788,000USD854,000USD
    Stock Based Compensation7,109,000USD6,073,000USD3,864,000USD3,237,000USD3,226,000USD2,851,000USD2,343,000USD2,142,000USD
    Other Non Cash Items8,327,000USD577,000USD-1,453,000USD779,000USD785,000USD2,540,000USD3,648,000USD567,000USD
    Change To Account Receivables-20,000,000USD———0USD———
    Change In Working Capital-23,676,000USD-311,000USD2,463,000USD-1,038,000USD-1,425,000USD1,031,000USD-5,232,000USD2,429,000USD
    Total Cash From Operating Activities-39,113,000USD-27,730,000USD-24,642,000USD-30,052,000USD-29,516,000USD-22,452,000USD-23,205,000USD145,048,000USD
    Capital Expenditures-93,000USD-34,000USD-68,000USD-393,000USD-299,000USD-605,000USD-103,000USD-160,000USD
    Free Cash Flow-39,206,000USD-27,764,000USD-24,710,000USD-30,445,000USD-29,815,000USD-23,057,000USD-23,308,000USD144,888,000USD
    Investments6,368,000USD-103,353,000USD-66,883,000USD-393,000USD-299,000USD-605,000USD-103,000USD-160,000USD
    Total Cashflows From Investing Activities6,275,000USD-103,387,000USD-66,883,000USD-393,000USD-299,000USD-605,000USD-103,000USD-160,000USD
    Net Borrowings39,401,000USD0USD0USD0USD0USD0USD0USD—
    Total Cash From Financing Activities42,357,000USD3,590,000USD143,757,000USD612,000USD127,378,000USD70,262,000USD-2,150,000USD154,000USD
    Issuance Of Capital Stock0USD163,000USD141,748,000USD612,000USD127,752,000USD—0USD0USD
    Change In Cash9,519,000USD-127,527,000USD52,232,000USD-29,833,000USD97,563,000USD47,205,000USD-25,458,000USD145,042,000USD
    Begin Period Cash Flow189,247,000USD317,862,000USD265,630,000USD295,463,000USD197,900,000USD150,695,000USD176,153,000USD31,111,000USD
    End Period Cash Flow198,766,000USD190,335,000USD317,862,000USD265,630,000USD295,463,000USD197,900,000USD150,695,000USD176,153,000USD
    Other Cashflows From Financing Activities42,357,000USD3,590,000USD272,121,000USD—-374,000USD16,176,000USD-2,150,000USD-105,000USD
    Unclassified Operating Cash Flow-7,109,000USD———————
    Unclassified Financing Cash Flow-39,401,000USD—-270,112,000USD——54,086,000USD——
    Sale Purchase Of Stock—644,000USD—612,000USD————
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Net Income-131,120,000USD52,231,000USD-100,415,000USD-114,940,000USD
    Depreciation2,403,000USD3,297,000USD4,089,000USD3,820,000USD
    Stock Based Compensation16,400,000USD9,646,000USD8,747,000USD6,736,000USD
    Other Non Cash Items2,650,000USD12,303,000USD7,068,000USD8,417,000USD
    Change In Working Capital-2,273,000USD-1,523,000USD-6,316,000USD-3,236,000USD
    Total Cash From Operating Activities-111,940,000USD75,954,000USD-86,827,000USD-99,203,000USD
    Capital Expenditures-794,000USD-1,147,000USD-441,000USD-1,966,000USD
    Free Cash Flow-112,734,000USD74,807,000USD-87,268,000USD-101,169,000USD
    Investments-170,168,000USD-1,147,000USD-441,000USD-3,170,000USD
    Total Cashflows From Investing Activities-170,962,000USD-1,147,000USD-441,000USD-3,170,000USD
    Net Borrowings0USD24,475,000USD16,176,000USD0USD
    Total Cash From Financing Activities275,337,000USD92,847,000USD16,385,000USD1,728,000USD
    Sale Purchase Of Stock1,256,000USD———
    Issuance Of Capital Stock270,275,000USD70,793,000USD0USD1,574,000USD
    Change In Cash-7,565,000USD167,654,000USD-70,883,000USD-100,645,000USD
    Begin Period Cash Flow197,900,000USD30,246,000USD101,129,000USD201,774,000USD
    End Period Cash Flow190,335,000USD197,900,000USD30,246,000USD101,129,000USD
    Other Cashflows From Financing Activities-500,000USD68,372,000USD209,000USD1,728,000USD
    Unclassified Financing Cash Flow274,581,000USD-70,793,000USD—-1,574,000USD
    Unclassified Investing Cash Flow—1,147,000USD—1,966,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    No revenue breakdown is currently published for this company.

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.