MBX Biosciences, Inc.
Business
MBX Biosciences is a clinical-stage biopharmaceutical company developing novel precision peptide therapies for endocrine and metabolic disorders using its proprietary PEP™ platform. The company's lead programs include canvuparatide for chronic hypoparathyroidism (in Phase 3), MBX 4291 for obesity (in Phase 1), and imapextide for post-bariatric hypoglycemia (in Phase 2a). MBX markets to patient populations in the United States and Europe through planned internal commercial infrastructure and potential partnerships, focusing initially on geographically concentrated rare-disease indications.
Summary from 10-K filed 2026-03-12
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Research and development | 79 | 57 | 29 | |
| General and administrative | 19 | 11 | 7 | |
| Total operating expenses | 98 | 68 | 35 | |
| Loss from operations | −98 | −68 | −35 | |
| Interest and other income, net | 11 | 6 | 3 | |
| Net loss | −87 | −62 | −33 | |
| Unrealized gain on marketable securities | 285,000 | 54,000 | 60,000 | |
| Reclassification of net gains included in net loss | −54,000 | −59,000 | −3,000 | |
| Total other comprehensive gain (loss) | 231,000 | −5,000 | 57,000 | |
| Total comprehensive loss | −87 | −62 | −33 | |
| Net loss attributable to common stockholders | −87 | −62 | −33 | |
| Net loss per common share, basic | −2.38 | −5.82 | −31.96 | |
| Net loss per common share, diluted | −2.38 | −5.82 | −31.96 | |
| Weighted average number of common shares outstanding used in computation of net loss per common share, basic | 37 | 11 | 1 | |
| Weighted average number of common shares outstanding used in computation of net loss per common share, diluted | 37 | 11 | 1 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 75 | 49 | 31 | — | |
| Marketable securities | 298 | 213 | 50 | — | |
| Prepaid expenses and other current assets | 8 | 5 | 3 | — | |
| Total current assets | 382 | 267 | 83 | — | |
| Property and equipment, net | 3 | 1 | 439,000 | — | |
| Right-of-use assets | 487,000 | 119,000 | 226,000 | — | |
| Other assets | 383,000 | 50,000 | 50,000 | — | |
| Total assets | 385 | 269 | 84 | — | |
| Accounts payable | 3 | 5 | 1 | — | |
| Accrued expenses | 12 | 6 | 2 | — | |
| Operating lease liability, current | 172,000 | 171,000 | 153,000 | — | |
| Total current liabilities | 15 | 11 | 4 | — | |
| Share repurchase liability | 2,000 | 42,000 | 194,000 | — | |
| Operating lease liability, net of current | 424,000 | 0 | 171,000 | — | |
| Total liabilities | 16 | 11 | 4 | — | |
| Commitments and contingencies (Note 9) | — | — | — | — | |
| Undesignated preferred stock, $0.0001 par value, 10,000,000 shares authorized and zero issued and outstanding as of December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | — | |
| Common stock, $0.0001 par value, 500,000,000 shares authorized and 44,927,953 issued and outstanding as of December 31, 2025 and 500,000,000 shares authorized and 33,421,525 issued and outstanding as of December 31, 2024 | 6,000 | 5,000 | 1,000 | — | |
| Additional paid-in-capital | 593 | 395 | 3 | — | |
| Accumulated deficit | −225 | −138 | −76 | — | |
| Accumulated other comprehensive income | 286,000 | 55,000 | 60,000 | — | |
| Total stockholders' equity | 369 | 257 | −72 | −43 | |
| Total liabilities and stockholders' equity | 385 | 269 | 84 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Net loss | −87 | −62 | −33 | |
| Stock-based compensation expense | 9 | 5 | 2 | |
| Non cash operating lease expense | 133,000 | 106,000 | 95,000 | |
| Accretion and amortization of marketable securities, net | −4 | −3 | −1 | |
| Depreciation expense | 200,000 | 200,000 | 200,000 | |
| Prepaid expenses and other current assets | −3 | −2 | −1 | |
| Accounts payable | −2 | 4 | 412,000 | |
| Accrued expenses | 7 | 3 | 45,000 | |
| Other assets | 8,000 | 0 | −8,000 | |
| Operating lease right-of-use asset | −501,000 | 0 | — | |
| Operating lease liability | 425,000 | −153,000 | −137,000 | |
| Net cash used in operating activities | −80 | −55 | −32 | |
| Purchases of property and equipment | −2 | −874,000 | −129,000 | |
| Purchases of marketable securities | −358 | −239 | −64 | |
| Maturities of marketable securities | 268 | 80 | 33 | |
| Call redemptions of marketable securities | 9 | 0 | — | |
| Net cash used in investing activities | −84 | −161 | −31 | |
| Proceeds from public offering, net of underwriting discounts and commissions | 188 | 0 | — | |
| Proceeds from initial public offering, net of underwriting discounts and commissions | 0 | 175 | — | |
| Proceeds from exercise of common stock options | 2 | 403,000 | 739,000 | |
| Payments related to offering costs | −771,000 | −4 | — | |
| Preferred stock issuance costs | 0 | −279,000 | −30,000 | |
| Net cash provided by financing activities | 190 | 234 | 69 | |
| Net increase in cash and cash equivalents | 26 | 19 | 6 | |
| Vesting of early exercised stock options and founder shares | 40,000 | 232,000 | 504,000 | |
| Property and equipment in accounts payable and accrued liabilities | 26,000 | 29,000 | 18,000 | |
| Deferred initial public offering costs included in accounts payable and accrued expenses | 127,000 | 0 | — | |
| Conversion of convertible preferred stock to common stock upon initial public offering | 0 | 216 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is MBX Biosciences, Inc.'s CIK number?
MBX Biosciences, Inc.'s SEC CIK number is 0001776111 (1776111). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find MBX Biosciences, Inc.'s SEC filings?
All of MBX Biosciences, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did MBX Biosciences, Inc. last report earnings?
MBX Biosciences, Inc. (MBX) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-210825). This is MBX Biosciences, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is MBX Biosciences, Inc.'s most recent earnings 8-K?
MBX Biosciences, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001193125-26-210825. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View MBX Biosciences, Inc.'s latest earnings 8-K →
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