Maze Therapeutics Inc
MAZEHealthcare|Biotechnology|USA
$30.56
-1.89 (-5.82%)
Tangible Book
$6.87
Financials
Financial Snapshot
Market Cap
$1.69B
Enterprise Value
$291.2M
Revenue (TTM)
$20.0M
Net Income (TTM)
$-122.5M
Cash & Equivalents
—
Net Cash/Share
$5.52
Free Cash Flow (TTM)
$-122.1M
Operating CF (TTM)
$-121.5M
Debt/Equity
0.18
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$30.4M
Monthly Burn
$10.1M
Est. Runway
—
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Cash & Investments | $99.9M | $29.2M | $196.8M | $341.9M | $352.4M | |
| Operating Cash Flow | $-99.2M | $-86.8M | $76.0M | $-111.9M | $-121.5M | |
| Free Cash Flow | $-101.2M | $-87.3M | $74.8M | $-112.7M | $-122.1M | |
| Capital Expenditure | $-2.0M | $-441.0K | $-1.1M | $-794.0K | $-588.0K | |
| Financing Cash Flow | $1.7M | $16.4M | $92.8M | $275.3M | $190.3M |
R&D Spending
R&D (TTM)
$115.0M
R&D Intensity
575.1%
R&D Growth YoY
+6.1%
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $167.5M | $0.00 | $20.0M | |
| R&D Expense | $88.2M | $73.9M | $83.5M | $108.4M | $115.0M | |
| R&D % of Revenue | — | — | 49.8% | — | 575.1% | |
| SG&A | $22.8M | $24.6M | $26.4M | $34.5M | $39.0M |
Income Statement
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $167.5M | $0.00 | $20.0M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $167.5M | $0.00 | $20.0M | |
| R&D | $88.2M | $73.9M | $83.5M | $108.4M | $115.0M | |
| SG&A | $22.8M | $24.6M | $26.4M | $34.5M | $39.0M | |
| Operating Income | $-111.0M | $-98.6M | $57.6M | $-142.9M | $-134.1M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $-866.0K | |
| Pretax Income | $-114.9M | $-100.4M | $53.4M | $-131.1M | $-122.5M | |
| Net Income | $-114.9M | $-100.4M | $52.2M | $-131.1M | $-122.5M | |
| EPS (Diluted) | -3.29 | -2.87 | 0.08 | -3.05 | -2.53 | |
| EBITDA | $-107.2M | $-94.5M | $60.9M | $-140.5M | $-128.7M | |
| Shares Out. (M) | 35.40 | 35.40 | 43.78 | 42.98 | 53.90 |
Balance Sheet
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $99.9M | $29.2M | $196.8M | $189.2M | $198.8M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $152.7M | $153.6M | |
| Total Current Assets | $106.1M | $34.1M | $201.7M | $349.7M | $379.8M | |
| Total Assets | $150.0M | $71.5M | $240.5M | $397.1M | $419.7M | |
| Total Current Liabilities | $20.8M | $16.3M | $20.7M | $22.6M | $21.2M | |
| Long-Term Debt | $0.00 | $20.1M | $0.00 | $0.00 | $38.8M | |
| Total Liabilities | $432.4M | $445.4M | $551.7M | $42.2M | $78.0M | |
| Stockholders' Equity | $-282.5M | $-373.8M | $-311.2M | $355.0M | $341.7M | |
| Retained Earnings | $-295.3M | $-395.7M | $-358.4M | $-489.5M | $-513.8M |
Cash Flow Statement
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $-99.2M | $-86.8M | $76.0M | $-111.9M | $-121.5M | |
| Capital Expenditure | $-2.0M | $-441.0K | $-1.1M | $-794.0K | $-588.0K | |
| Free Cash Flow | $-101.2M | $-87.3M | $74.8M | $-112.7M | $-122.1M | |
| Investing Cash Flow | $-3.2M | $-441.0K | $-1.1M | $-171.0M | $-164.4M | |
| Financing Cash Flow | $1.7M | $16.4M | $92.8M | $275.3M | $190.3M | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $270.3M | $142.5M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $16.2M | $24.5M | $0.00 | $39.4M | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $6.7M | $8.7M | $9.6M | $16.4M | $20.3M | |
| Net Change in Cash | $-100.6M | $-70.9M | $167.7M | $-7.6M | $-95.6M |
Dilution Tracker
Shares outstanding grew 52.2% over 5 years — significant dilution
Shares Outstanding
54M
5-Year Share Growth
+52.2%
Stock Issuance (TTM)
$142.5M
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Shares Out. (M) | 35.40 | 35.40 | 43.78 | 42.98 | 53.90 | |
| YoY Change % | — | 0.0% | 23.7% | -1.8% | 25.4% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $270.3M | $142.5M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $6.7M | $8.7M | $9.6M | $16.4M | $20.3M |
Margins & Profitability
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 34.4% | 0.0% | -670.3% | |
| Net Margin % | 0.0% | 0.0% | 31.2% | 0.0% | -612.7% | |
| EBITDA Margin % | 0.0% | 0.0% | 36.3% | 0.0% | -643.4% | |
| FCF Margin % | 0.0% | 0.0% | 44.7% | 0.0% | -610.6% | |
| ROE % | 0.0% | 0.0% | Negative Equity | -599.0% | -37.6% | |
| ROA % | -76.6% | -90.7% | 33.5% | -41.1% | -32.7% | |
| R&D / Revenue | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S82.37
Historical2.05 / 216.14 / 880.88
Industry Med.9.49
P/B4.45
Historical1.17 / 3.90 / 8.40
Industry Med.2.93
EV/EBITDA-10.88
Historical-16.28 / -7.95 / 8.67
Industry Med.13.02
EV/Revenue70.01
Historical-0.27 / 120.02 / 783.81
Industry Med.8.59
P/FCF—
Historical6.47 / 7.70 / 11.07
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$6.87
Net Current Assets
$6.070
Net-Net Working Capital
$5.82
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | N/A | At Loss | At Loss | |
| PS Ratio | - | - | 0.00 | - | 82.37 | |
| PB Ratio | 0.00 | 0.00 | 0.00 | 5.76 | 4.45 | |
| EV/EBITDA | 0.00 | 0.00 | 0.00 | -12.28 | -10.88 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 70.01 |
Analyst Estimates & Quality
Altman Z-Score
11.41
Safe
Piotroski F-Score
N/A
Weak
Beneish M-Score
-4.49
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $22.00M | $8.85M | $8.29M |
| Net Income | $-160.51M | $-205.80M | $-257.54M |
| EPS | -2.80 | -3.30 | -3.74 |
| Book Value per Share | 6.22 | 6.33 | 3.65 |
| Operating Cash Flow per Share | -2.37 | -2.55 | -2.67 |
| Operating CF | $-127.74M | $-137.44M | $-143.91M |
Dividends
Revenue Segments
By Business
| Segment | 2024 |
|---|---|
| Business of harnessing its understanding of human genetics and variant functionalization to develop | $167.5M |
By Geography
| Segment | 2024 |
|---|---|
| United States | $167.5M |