Maze reports $20M Shionogi milestone, positive MZE829 data, and $185M in new capital

Filed May 12, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 14, 2025 · ~2 min read

Key Changes

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  Recognized $20M milestone from Shionogi after first patient dosed in Phase 2 trial of licensed MZE001 for Pompe disease; first revenue under 2024 license agreement providing up to $605M in future milestones.

  MD&A: License Revenue verify on EDGAR →
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  Announced positive Phase 2 proof-of-concept data for MZE829 in kidney disease (March 2026): clinically meaningful proteinuria reduction, good tolerability, no serious adverse events; advancing to pivotal development with additional data expected late 2026/early 2027.

  MD&A: MZE829 Clinical Results verify on EDGAR →
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  Raised $185M in new capital: $40M drawn from $200M Hercules debt facility (7.95%-9.25% interest) and $144.7M equity offering at $23.50/share (April 2026); pro forma cash exceeds $500M but debt carries 50% minimum cash covenant.

  MD&A: Financing Activities verify on EDGAR →