MBX Biosciences, Inc. (MBX) AI Stock Analysis

• Market Cap: $1.38B
• Dividend Yield: N/A
• Average Volume (3M): 735.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.11
• Revenue Growth: N/A
• EPS Growth: -44.79%
• Country: US
• Employees: 43
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.63
• Shares Outstanding: 44,902,300
• 10 Day Avg. Volume: 418,896
• 30 Day Avg. Volume: 735,288
• PEG Ratio: -0.12
• Price to Book (P/B): 2.39
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.08
• Enterprise Value/Market Cap: 0.15
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -2.35
• 1Y Price Target: $59.33
• Price Target Upside: 93.13% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): -3.12
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: $32.00 ▲(4.17% Upside)

The score is held back primarily by pre-revenue status, widening losses, and accelerating cash burn, partially offset by a low-debt, strengthened balance sheet and a supportive liquidity event. Technicals are positive with the stock trading above key moving averages and a positive MACD, while valuation remains constrained by negative earnings.

Positive Factors

Cash Runway

A strong cash position and extended runway provide financial stability, allowing MBX to focus on R&D and strategic initiatives without immediate funding pressures.

Phase 2 Trial Success

Successful trial results enhance MBX's competitive position in the hypoparathyroidism market, potentially leading to significant revenue opportunities upon commercialization.

Leadership Strength

The appointment of an experienced leader in commercialization strengthens MBX's management team, aiding in strategic planning and execution as the company advances towards product launches.

Negative Factors

Pre-Revenue Status

The lack of revenue generation poses a risk as it limits immediate cash inflows, making the company reliant on external funding and successful product development for future growth.

Widening Losses

Increasing losses indicate rising operational expenses without offsetting revenue, which could strain financial resources and delay profitability unless mitigated by successful product launches.

Accelerating Cash Burn

Substantial cash burn highlights the need for efficient capital management and successful commercialization to ensure long-term sustainability and avoid frequent capital raises.

MBX Biosciences, Inc. Business Overview & Revenue Model

Company Description

MBX Biosciences, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism. The company is also developing MBX 1416, a long-acting glucagon-like peptide-1 (GLP-1) receptor antagonist that is in Phase 1 clinical trial designed as a potential therapy for post-bariatric hypoglycemia, a chronic complication of bariatric surgery. In addition, it is developing MBX 4291, a lead obesity product candidate, which is in investigational new drug-enabling studies designed as a long-acting and highly potent GLP-1 and glucose-dependent insulinotropic polypeptide receptor co-agonist prodrug for treating obesity and co-morbidities. The company was founded in 2018 and is based in Carmel, Indiana.

How the Company Makes Money

MBX Biosciences makes money primarily through the development and commercialization of its peptide-based therapeutics. The company generates revenue by out-licensing its drug candidates to larger pharmaceutical companies capable of taking them through late-stage clinical trials, regulatory approval, and market launch. Additionally, MBX may enter into strategic partnerships and collaborations to co-develop or co-commercialize its products, which can include upfront payments, milestone payments, and royalties on product sales. The company may also receive funding through grants and research collaborations with academic institutions and other biotech firms.

MBX Biosciences, Inc. Financial Statement Overview

Summary

MBX Biosciences, Inc. struggles with financial health due to zero revenue and significant operational losses. Despite improvements in equity and cash position, the lack of income and high cash burn pose major risks. Reliance on external financing is not sustainable without a viable revenue model.

Income Statement

MBX Biosciences, Inc. has reported zero revenue across all periods, indicating no income generation from its operations. The company has high negative EBIT and net income, reflecting significant operational losses. Financial performance is concerning with no revenue growth and deteriorating margins, all of which are negative.

Balance Sheet

The balance sheet shows a strong cash position with a significant increase in cash and short-term investments in the latest period. Although the company has low debt levels, its negative equity in prior years has now turned positive, indicating an improvement in financial stability. However, the absence of revenue poses a risk to sustainability.

Cash Flow

Cash flows are negative, with increasing operating losses and negative free cash flow, indicating substantial cash burn. The company relies heavily on financing activities to maintain its cash position, raising concerns about long-term cash flow sustainability without revenue generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00
EBITDA	-88.32M	-67.95M	-35.15M	-25.70M
Net Income	-80.50M	-61.92M	-32.56M	-26.14M
Balance Sheet
Total Assets	400.08M	268.54M	84.18M	45.09M
Cash, Cash Equivalents and Short-Term Investments	391.67M	262.15M	80.68M	42.46M
Total Debt	623.00K	171.00K	324.00K	461.00K
Total Liabilities	12.54M	11.09M	156.65M	87.70M
Stockholders Equity	387.54M	257.44M	-72.47M	-42.60M
Cash Flow
Free Cash Flow	-78.91M	-55.55M	-32.11M	-23.56M
Operating Cash Flow	-77.69M	-54.68M	-31.98M	-23.12M
Investing Cash Flow	-21.08M	-160.59M	-30.93M	-11.41M
Financing Cash Flow	189.02M	234.10M	69.22M	46.06M

MBX Biosciences, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TERN	61 Neutral	$4.02B	-36.60	-29.12%	―	―	12.45%
KALV	57 Neutral	$799.64M	-3.96	―	―	―	-13.14%
TYRA	57 Neutral	$1.62B	-16.15	-34.75%	―	―	-17.01%
MBX	56 Neutral	$1.38B	-12.83	-24.43%	―	―	-44.79%
NRIX	54 Neutral	$1.89B	-6.28	-65.35%	―	48.32%	-1.91%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
GOSS	47 Neutral	$578.64M	-3.64	―	―	-58.17%	-116.24%

MBX Biosciences, Inc. Corporate Events

MBX Biosciences Appoints Steven Hoerter as Executive Chair

MBX Biosciences announced significant corporate developments, including the resignation of James M. Cornelius from the board and the appointment of Steven Hoerter as executive chairperson, effective November 6, 2025. The company reported positive Phase 2 trial results for canvuparatide in hypoparathyroidism, indicating potential market leadership in a multibillion-dollar sector. MBX also raised approximately $200 million through a public offering, with cash reserves expected to support operations until 2029, positioning the company to execute its 2026 milestones and expand its presence in the biopharmaceutical industry.

The most recent analyst rating on (MBX) stock is a Buy with a $50.00 price target. To see the full list of analyst forecasts on MBX Biosciences, Inc. stock, see the MBX Stock Forecast page.