The sale marks a significant reduction in the executive’s holdings amid ongoing clinical trials for the biotech firm’s lead drug candidate.
MapLight Therapeutics Chief Financial Officer Rajesh Setia sold $1.02 million worth of company stock, according to regulatory filings. The transaction involved 100,000 shares at an average price of $10.20 per share, reducing Setia’s total holdings by approximately 15%.
The sale follows a 20% increase in MapLight’s stock price over the past three months, driven by positive Phase 2 trial data for its lead psychiatric disorder treatment. Setia’s previous sale occurred in November 2023, when he divested $850,000 in shares.
Shares of MapLight (MLTX) showed minimal reaction in after-hours trading, dipping 0.3% to $10.17.