MAZE — what changed in the latest 10-Q
A section-by-section comparison of MAZE's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-11 vs the prior 10-Q · 2026-05-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +10 | −8 | ~18 | 59 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | +7 | −19 | ~15 | 483 |
| Other information | Text added/removed | +1 | 0 | ~1 | 3 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-11
We recognize research and development expenses as incurred. Nonrefundable advance payments for goods or services to be used in future research and development activities are capitalized and expensed as the related goods are received or services are performed. Direct external research and development…
Research and development expenses were $34.9 million and $28.1 million for the three months ended June 30, 2026 and 2025, respectively. The increase of $6.8 million between the comparative three month periods was primarily due to an increase of $4.3 million in personnel-related costs due to an incre…
Research and development expenses were $69.1 million and $55.7 million for the six months ended June 30, 2026 and 2025, respectively. The increase of $13.4 million between the comparative six month periods was primarily due to an increase of $7.9 million in personnel-related costs due to an increase…
Direct external research and development expenses by program:
General and administrative expenses were $13.1 million and $8.4 million for the three months ended June 30, 2026 and 2025, respectively. The increase of $4.7 million between the comparative three month periods was primarily due to an increase in personnel-related costs due to an increase in headcoun…
Text removed vs the prior filing · source: 10-Q · 2026-05-12
We recognize research and development expenses as they are incurred. Nonrefundable advance payments for goods or services that will be used or rendered for future research and development activities are capitalized and expensed as the goods are delivered or the related services are performed. We hav…
Additionally, our internal costs, employees and infrastructure are not directly tied to any one program and are deployed across multiple programs. As such, we do not track indirect costs on a specific program basis.
Research and development expenses were $34.1 million and $27.6 million for the three months ended March 31, 2026 and 2025, respectively. The increase of $6.6 million between the comparative three month periods was primarily due to an increase of $3.6 million in personnel-related costs due to an incr…
General and administrative expenses were $12.4 million and $7.8 million for the three months ended March 31, 2026 and 2025, respectively. The increase of $4.6 million between the comparative three month periods was primarily due to an increase of $3.3 million in personnel-related costs due to an inc…
Total other income, net was $2.3 million and $2.6 million for the three months ended March 31, 2026 and 2025, respectively. The decrease of $0.3 million between the comparative three months periods primarily reflects interest expense recognized on the Hercules Loan Agreement, partially offset by an …
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-11
In addition, our clinical trials will compete with other clinical trials for therapeutic candidates that are in the same therapeutic areas as our therapeutic candidates, and this competition will reduce the number and types of patients available to or retained by us because patients who might have o…
From time to time, we or our partners may make public interim, topline or preliminary data from our or their preclinical studies and clinical trials that are based on a preliminary analysis of then-available data, of which, the results, related findings and conclusions are subject to change followin…
While we have not identified any licenses that are required to conduct our genomics work to date, we may in the future identify a third-party technology we need to license to expand or continue to operate our Compass platform. For example, certain aspects of our Compass platform make use of CRISPR C…
Our reliance on these CROs for research and development activities will reduce our control over these activities but will not relieve us of our responsibilities. For example, we will remain responsible for ensuring that each of our clinical trials is conducted in accordance with the general investig…
Third-party manufacturers may not be able to comply with current good manufacturing practice, or cGMP, regulations or similar regulatory requirements outside of the United States. If the FDA determines that our contract manufacturing organizations, or CMOs, are not in compliance with FDA laws and re…
Text removed vs the prior filing · source: 10-Q · 2026-05-12
equal to $750.0 million, we must at all other times maintain unrestricted cash and cash equivalents of at least 50% of the outstanding loan amount, decreasing to 40% and 35% upon satisfaction of certain performance and financing milestones. Our ability to comply with these covenants and restrictions…
In addition, our clinical trials will compete with other clinical trials for therapeutic candidates that are in the same therapeutic areas as our therapeutic candidates, and this competition will reduce the number and types of patients available to or retained by us
because patients who might have opted to enroll in our trials may instead opt to enroll in a trial being conducted by one or more of our competitors. Other biopharmaceutical companies are currently conducting clinical trials, and may in the future conduct clinical trials, that compete for the same p…
From time to time, we or our partners may make public interim, topline or preliminary data from our or their preclinical studies and clinical trials that are based on a preliminary analysis of then-available data, of which, the results, related findings and conclusions
are subject to change following a more comprehensive review of the data or accumulation of additional data. Interim, topline or preliminary data from clinical trials that we or our partners may complete are subject to the risk that one or more of the clinical outcomes may materially change as patien…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-11
2 Amy Bachrodt resigned as SVP, Finance of Maze Therapeutics, Inc. (the “Company”), effective June 1, 2026.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice