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Clinical-stage biotech MapLight Therapeutics aims for a valuation of up to $704.3 million in its upcoming U.S. initial public offering, seeking to raise $250.8 million. The company, backed by Novo Holdings, is developing drugs for central nervous system disorders, including schizophrenia and Alzheimer's disease psychosis. This IPO reflects a broader resurgence in investor interest for new issues, following a substantial funding round earlier this year.

In a nutshell

This IPO signals renewed investor appetite for biotech companies with promising clinical-stage assets, particularly within the high-need therapeutic area of CNS disorders. A successful listing could significantly bolster MapLight's ability to advance its drug development programs, influencing future investment trends in neuroscience.

Source: Reuters