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MBX Biosciences, Inc.
(NASDAQ:MBX)
MBX Biosciences, Inc. (MBX) vs. SPDR S&P 500 ETF (SPY)
MBX Biosciences, Inc. Business Overview & Revenue Model
MBX Biosciences, Inc. Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -248.00K | 0.00 | 0.00 | 0.00 |
| EBITDA | -98.06M | -67.95M | -35.15M | -25.70M |
| Net Income | -86.97M | -61.92M | -32.56M | -26.14M |
Balance Sheet | ||||
| Total Assets | 385.14M | 268.54M | 84.18M | 45.09M |
| Cash, Cash Equivalents and Short-Term Investments | 373.70M | 262.15M | 80.68M | 42.46M |
| Total Debt | 596.00K | 171.00K | 324.00K | 461.00K |
| Total Liabilities | 15.92M | 11.09M | 156.65M | 87.70M |
| Stockholders Equity | 369.22M | 257.44M | -72.47M | -42.60M |
Cash Flow | ||||
| Free Cash Flow | -81.88M | -55.55M | -32.11M | -23.56M |
| Operating Cash Flow | -79.95M | -54.68M | -31.98M | -23.12M |
| Investing Cash Flow | -83.70M | -160.59M | -30.93M | -11.41M |
| Financing Cash Flow | 189.59M | 234.10M | 69.22M | 46.06M |
MBX Biosciences, Inc. Risk Analysis
MBX Biosciences, Inc. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $2.05B | -13.06 | -34.75% | ― | ― | -17.01% | |
57 Neutral | $782.96M | -3.32 | -282.01% | ― | ― | -13.14% | |
54 Neutral | $1.36B | -13.24 | -29.28% | ― | ― | -44.79% | |
52 Neutral | $5.08B | -6.99 | -29.95% | ― | ― | 12.45% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $1.55B | -5.54 | -57.51% | ― | 48.32% | -1.91% | |
40 Underperform | $101.88M | -4.16 | 242.63% | ― | -58.17% | -116.24% |
MBX Biosciences, Inc. Corporate Events
On March 9, 2026, MBX Biosciences reported that it had successfully completed an End-of-Phase 2 meeting with the U.S. Food and Drug Administration on its once-weekly parathyroid hormone prodrug canvuparatide for chronic hypoparathyroidism. The FDA feedback enables MBX to finalize a Phase 3 program that is intended to support an eventual marketing application and potentially reposition the company as a leading player in hormone replacement for this rare disease.
The company plans to start a double-blind, placebo-controlled Phase 3 trial in the third quarter of 2026, enrolling about 160 patients in a 3:1 randomization to canvuparatide or placebo. The 26-week study will test whether patients can achieve normal serum calcium and independence from conventional calcium and vitamin D therapy, followed by an open-label extension to assess long-term safety and durability of effect.
MBX also disclosed that canvuparatide has received orphan drug designation from the European Medicines Agency for chronic hypoparathyroidism, complementing an existing U.S. orphan designation. The dual orphan status strengthens the candidate’s regulatory and commercial profile in a market the company estimates includes more than 250,000 patients across the U.S. and Europe, where current care does not address the underlying parathyroid hormone deficiency.
The most recent analyst rating on (MBX) stock is a Buy with a $60.00 price target. To see the full list of analyst forecasts on MBX Biosciences, Inc. stock, see the MBX Stock Forecast page.
On February 24, 2026, MBX Biosciences, Inc. signed a lease with 5 Burlington Woods, LLC for about 13,642 square feet of new office and lab space in Burlington, Mass., with a four-year term beginning five months after an expected May 1, 2026 commencement and aggregate base rent of roughly $3.4 million. The deal, which includes a three-year extension option and additional payments for operating expenses, taxes and utilities, signals ongoing investment in physical infrastructure to support the company’s biotech operations.
On February 25, 2026, MBX Biosciences reached a separation agreement with Chief Financial Officer Richard Bartram, who will remain in the role through March 15, 2026 and then serve as a consultant to aid the transition, with his exit not stemming from any dispute with the company or its auditors. The company has begun searching for a new permanent CFO and has appointed industry veteran John Smither as interim CFO effective March 16, 2026, under a part-time employment agreement that underscores continuity of financial oversight during the leadership change.
The most recent analyst rating on (MBX) stock is a Buy with a $60.00 price target. To see the full list of analyst forecasts on MBX Biosciences, Inc. stock, see the MBX Stock Forecast page.
On February 4, 2026, MBX Biosciences, Inc. closed the sale of 2,250,986 shares of its common stock through its at-the-market offering program at a volume-weighted average price of $38.76 per share, raising approximately $87.1 million in gross proceeds under its existing Open Market Sale Agreement with Jefferies. The company plans to deploy the net proceeds to fund its clinical-stage programs, broader discovery research and additional clinical development, as well as for general corporate purposes, working capital and capital expenditures, while also preserving flexibility to use remaining proceeds and existing cash to in-license, acquire or invest in complementary businesses, technologies, products or assets, and it retains capacity to sell up to an additional $62.9 million of common stock under the same facility.
The most recent analyst rating on (MBX) stock is a Buy with a $42.00 price target. To see the full list of analyst forecasts on MBX Biosciences, Inc. stock, see the MBX Stock Forecast page.
On January 20, 2026, MBX Biosciences expanded its board of directors to eight members and appointed experienced biopharmaceutical finance executive Laurie Stelzer as an independent Class I director, to serve until the company’s 2028 annual meeting, with standard non-employee director compensation and an indemnification agreement consistent with other directors. Effective the same date, Stelzer was named chair of MBX’s audit committee, replacing Ed Mathers, and joined the compensation committee, a move announced publicly on January 22, 2026 and intended to strengthen the company’s financial oversight and governance as it navigates a pivotal period with multiple clinical programs progressing toward key milestones in endocrine and metabolic diseases.
The most recent analyst rating on (MBX) stock is a Hold with a $44.00 price target. To see the full list of analyst forecasts on MBX Biosciences, Inc. stock, see the MBX Stock Forecast page.
On January 11, 2026, MBX Biosciences announced it would present a 2026 outlook and business update at the 44th Annual J.P. Morgan Healthcare Conference, highlighting a strong pipeline of endocrine and metabolic programs and a solid balance sheet. The company reported that its Phase 2 Avail trial of once-weekly canvuparatide for chronic hypoparathyroidism met its primary endpoint, with one-year follow-up data slated for disclosure at a medical meeting in the second quarter of 2026 and a Phase 3 trial planned to start in the third quarter of 2026, positioning the drug as a potential best-in-class standard of care. MBX is also advancing obesity and metabolic candidates, including MBX 4291, a dual GLP-1/GIP co-agonist prodrug in Phase 1 with 12-week data expected in the fourth quarter of 2026, and plans in 2026 to nominate two additional once-monthly obesity candidates—an amycretin prodrug and a GLP-1/GIP/GCGR triple agonist—alongside Phase 2a readouts in the second quarter of 2026 for imapextide in post-bariatric hypoglycemia. The company underscored its financial runway with preliminary, unaudited cash, cash equivalents and marketable securities of about $373.7 million as of December 31, 2025, which it expects will fund operations into 2029, providing room to execute its clinical and pipeline expansion strategy.
The most recent analyst rating on (MBX) stock is a Buy with a $60.00 price target. To see the full list of analyst forecasts on MBX Biosciences, Inc. stock, see the MBX Stock Forecast page.