Maze Therapeutics, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
MAZE$35.45+1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Statements of Cash Flows
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net (loss) income | $(96,552) | $81,810 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||
| Depreciation | 1,904 | 2,592 |
| Stock-based compensation expense | 10,327 | 6,795 |
| Non-cash lease expense | 2,330 | 2,149 |
| Accretion of discounts on marketable securities | (278) | — |
| Change in fair value of convertible promissory notes | — | 7,193 |
| Other items, net | 21 | 421 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (2,508) | 603 |
| Other assets | 374 | (1,965) |
| Accounts payable | 1,098 | (1,025) |
| Accrued expenses and other liabilities | 1,519 | 1,964 |
| Operating lease liabilities | (2,445) | (2,131) |
| Net cash (used in) provided by operating activities | (84,210) | 98,406 |
| Investing activities | ||
| Purchases of marketable securities | (66,815) | — |
| Purchases of property and equipment | (760) | (542) |
| Net cash used in investing activities | (67,575) | (542) |
| Financing activities | ||
| Proceeds from initial public offering, net of offering costs paid | 127,752 | — |
| Proceeds from private placement, net of offering costs paid | 141,748 | — |
| Proceeds from exercise of stock option awards, net of repurchases | 2,135 | 670 |
| Proceeds from issuance of common stock under the 2025 Employee Stock Purchase Plan | 612 | — |
| Proceeds from issuance of convertible promissory notes, net of issuance costs | — | 24,475 |
| Payment of deferred offering costs | — | (2,560) |
| Payment of success fee derivative | (500) | — |
| Net cash provided by financing activities | 271,747 | 22,585 |
| Net increase in cash, cash equivalents, and restricted cash | 119,962 | 120,449 |
| Cash, cash equivalents, and restricted cash at beginning of the period | 197,900 | 30,246 |
| Cash, cash equivalents, and restricted cash at end of the period | $317,862 | $150,695 |
| Supplemental disclosure of non-cash investing and financing activities | ||
| Purchases of property and equipment recorded in accounts payable and accrued expenses | $34 | $208 |
| Vesting of restricted stock and stock options subject to repurchase | $— | $22 |
| Offering costs recorded in accounts payable and accrued expenses | $405 | $720 |
| Reconciliation to cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $316,773 | $149,607 |
| Restricted cash | 1,089 | 1,088 |
| Total cash, cash equivalents and restricted cash | $317,862 | $150,695 |
| Supplemental disclosure of cash flow information: | ||
| Income taxes paid | $— | $1,230 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.