MapLight Therapeutics Raises $258.9 Million in Unconventional IPO Amid US Government Shutdown

MapLight Therapeutics Inc. has raised $258.9 million in an initial public offering and private placement. The biotechnology firm developing treatments for neurological disorders sold 14.75 million shares at $17 each. The IPO values the company at $704.3 million, following a previous funding round that valued it at $816 million. MapLight's experimental therapy is in mid-stage trials for schizophrenia and Alzheimer's disease psychosis.