Maze Q2 net loss widens 33% to $44.7M as R&D spending rises; $20M Shionogi milestone offsets

Filed August 11, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 12, 2025 · ~2 min read

Key Changes

• high

  Q2 net loss widened 33% to $44.7M from $33.7M, driven by higher R&D ($34.9M, +24%) and G&A ($13.1M, +57%) spending as clinical programs advance. Operating loss rose 32% to $48.0M. Diluted EPS improved 1.3% to -$0.76 on higher share count.

  MD&A: Operating Results verify on EDGAR →
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  Received $20M milestone from Shionogi in April 2026 when partner dosed first patient in Phase 2 Pompe study of MZE001. First milestone under March 2024 license (up to $275M clinical/regulatory, up to $330M sales milestones remain).

  MD&A: Shionogi Milestone verify on EDGAR →
• high

  Announced positive Phase 2 proof-of-concept for lead program MZE829 in March 2026 (clinically meaningful proteinuria reduction, well tolerated). Plans pivotal trial H1 2027 subject to regulatory feedback. MZE782 Phase 2 PKU trial initiated August 2026, topline data expected 2027.

  MD&A: Clinical Progress verify on EDGAR →