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    MBX

    MBX Biosciences, Inc.

    Company overview

    Market capitalization
    $2.77B
    Employees
    63
    Latest publication
    2026-09-29
    About MBX Biosciences, Inc.

    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 Canvuparatide (MBX 2109), a parathyroid hormone peptide prodrug, which is in Phase 3 clinical trial for the treatment of chronic hypoparathyroidism. The company is also developing Imapextide (MBX 1416), a long-acting glucagon-like peptide-1 (GLP-1) receptor antagonist that is in Phase 2 clinical trial 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 for the treatment of obesity and co-morbidities. The company was founded in 2018 and is based in Carmel, Indiana.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Total Revenue0USD0USD0USD0USD0USD222,000USD0USD0USD
    Cost Of Revenue64,000USD60,000USD100,000USD100,000USD77,000USD—100,000USD63,000USD
    Gross Profit-64,000USD-60,000USD-100,000USD-100,000USD-77,000USD111,000USD-100,000USD-63,000USD
    Research Development18,474,000USD19,760,000USD19,270,000USD17,724,000USD22,405,000USD15,223,000USD16,747,000USD14,396,000USD
    Selling General Administrative8,791,000USD6,035,000USD4,656,000USD4,081,000USD4,124,000USD3,387,000USD2,865,000USD2,262,000USD
    Total Operating Expenses27,265,000USD25,795,000USD23,926,000USD21,805,000USD26,529,000USD18,610,000USD19,612,000USD16,658,000USD
    Operating Income-27,265,000USD-25,795,000USD-23,926,000USD-21,805,000USD-26,529,000USD-18,610,000USD-19,612,000USD-16,658,000USD
    Interest Income3,748,000USD3,733,000USD2,308,000USD2,394,000USD2,649,000USD3,024,000USD1,470,000USD801,000USD
    Net Interest Income3,748,000USD3,733,000USD2,308,000USD2,394,000USD2,649,000USD3,024,000USD1,470,000USD801,000USD
    Income Before Tax-23,517,000USD-22,062,000USD-21,618,000USD-19,411,000USD-23,880,000USD-15,586,000USD-18,142,000USD-15,857,000USD
    Net Income-23,517,000USD-22,062,000USD-21,618,000USD-19,411,000USD-23,880,000USD-15,586,000USD-18,142,000USD-15,857,000USD
    Net Income From Continuing Ops-23,517,000USD-22,062,000USD-21,618,000USD-19,411,000USD-23,880,000USD-15,586,000USD-18,142,000USD-15,857,000USD
    Ebit-23,517,000USD-22,062,000USD-21,618,000USD-19,411,000USD-23,880,000USD-15,586,000USD-18,142,000USD-15,857,000USD
    Ebitda-23,453,000USD-22,002,000USD-21,568,000USD-19,350,000USD-23,803,000USD-15,528,000USD-18,067,000USD-15,794,000USD
    Depreciation And Amortization64,000USD60,000USD50,000USD61,000USD77,000USD58,000USD75,000USD63,000USD
    Reconciled Depreciation64,000USD60,000USD50,000USD61,000USD77,000USD58,000USD75,000USD63,000USD
    Total Other Income Expense Net3,748,000USD3,733,000USD2,308,000USD2,394,000USD2,649,000USD3,024,000USD1,470,000USD801,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Total Revenue0USD0USD0USD0USD
    Cost Of Revenue248,000USD244,000USD157,000USD56,000USD
    Gross Profit-248,000USD-244,000USD-157,000USD-56,000USD
    Research Development79,159,000USD57,415,000USD28,534,000USD21,397,000USD
    Selling General Administrative18,896,000USD10,779,000USD6,777,000USD3,764,000USD
    Total Operating Expenses98,055,000USD68,194,000USD35,311,000USD25,161,000USD
    Operating Income-98,055,000USD-68,194,000USD-35,311,000USD-25,161,000USD
    Interest Income11,084,000USD6,272,000USD2,748,000USD372,000USD
    Net Interest Income11,084,000USD6,272,000USD2,748,000USD-2,000USD
    Income Before Tax-86,971,000USD-61,922,000USD-32,563,000USD-26,135,000USD
    Net Income-86,971,000USD-61,922,000USD-32,563,000USD-26,135,000USD
    Net Income From Continuing Ops-86,971,000USD-61,922,000USD-32,563,000USD-26,135,000USD
    Ebit-86,971,000USD-61,922,000USD-32,563,000USD-25,761,000USD
    Ebitda-86,723,000USD-61,678,000USD-32,406,000USD-25,705,000USD
    Depreciation And Amortization248,000USD244,000USD157,000USD56,000USD
    Reconciled Depreciation248,000USD244,000USD157,000USD56,000USD
    Total Other Income Expense Net11,084,000USD6,272,000USD2,748,000USD-974,000USD
    Interest Expense——0USD374,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets435,909,000USD452,701,000USD385,144,000USD400,076,000USD231,522,000USD245,926,000USD268,535,000USD282,400,000USD
    Cash And Equivalents54,124,000USD———————
    Cash And Short Term Investments418,581,000USD439,977,000USD373,705,000USD391,673,000USD224,906,000USD240,786,000USD262,149,000USD277,063,000USD
    Short Term Investments364,457,000USD394,763,000USD298,416,000USD168,548,000USD185,125,000USD210,883,000USD212,798,000USD144,198,000USD
    Total Current Assets427,862,000USD448,536,000USD381,539,000USD397,502,000USD229,190,000USD244,276,000USD267,286,000USD281,170,000USD
    Other Current Assets9,281,000USD5,402,000USD5,714,000USD4,281,000USD3,443,000USD2,105,000USD4,455,000USD3,249,000USD
    Other Non Current Assets625,000USD———————
    Total Liabilities26,370,000USD———————
    Total Current Liabilities23,660,000USD14,567,000USD15,495,000USD12,062,000USD11,756,000USD10,481,000USD11,051,000USD10,920,000USD
    Other Current Liabilities18,673,000USD———————
    Total Stockholder Equity409,539,000USD437,756,000USD369,223,000USD387,538,000USD219,239,000USD235,422,000USD257,442,000USD271,368,000USD
    Total Equity Including Noncontrolling Interest409,539,000USD———————
    Property Plant Equipment Net7,422,000USD3,586,000USD3,222,000USD2,524,000USD2,281,000USD1,600,000USD1,199,000USD1,180,000USD
    Accounts Payable4,356,000USD6,974,000USD2,977,000USD3,768,000USD5,764,000USD4,245,000USD5,335,000USD5,002,000USD
    Short Term Debt631,000USD178,000USD172,000USD154,000USD138,000USD130,000USD171,000USD166,000USD
    Common Stock6,000USD6,000USD6,000USD6,000USD5,000USD5,000USD5,000USD5,000USD
    Retained Earnings-285,088,000USD-247,993,000USD-224,476,000USD-202,414,000USD-180,796,000USD-161,385,000USD-137,505,000USD-121,919,000USD
    Accumulated Other Comprehensive Income-1,222,000USD-606,000USD286,000USD154,000USD11,000USD53,000USD55,000USD106,000USD
    Total Liab—14,945,000USD15,921,000USD12,538,000USD12,283,000USD10,504,000USD11,093,000USD11,032,000USD
    Other Current Liab—7,415,000USD12,346,000USD8,140,000USD5,854,000USD6,106,000USD5,545,000USD5,752,000USD
    Capital Stock—6,000USD6,000USD6,000USD5,000USD5,000USD5,000USD5,000USD
    Cash—45,214,000USD75,289,000USD223,125,000USD39,781,000USD29,903,000USD49,351,000USD132,865,000USD
    Net Debt—-44,659,000USD-74,693,000USD-222,502,000USD-39,131,000USD-29,773,000USD-49,180,000USD-132,655,000USD
    Short Long Term Debt Total—555,000USD596,000USD623,000USD650,000USD130,000USD171,000USD210,000USD
    Net Receivables—3,157,000USD2,120,000USD1,548,000USD841,000USD1,385,000USD682,000USD858,000USD
    Property Plant Equipment Gross—4,320,000USD3,892,000USD3,134,000USD2,841,000USD2,099,000USD1,621,000USD1,544,000USD
    Common Stock Shares Outstanding—46,576,204shares36,506,092shares34,198,597shares33,446,385shares33,412,386shares33,392,615shares33,392,615shares
    Non Current Assets Total—4,165,000USD3,605,000USD2,574,000USD2,331,000USD1,650,000USD1,249,000USD1,230,000USD
    Non Current Liabilities Total—378,000USD426,000USD476,000USD527,000USD23,000USD42,000USD112,000USD
    Non Current Liabilities Other—1,000USD2,000USD7,000USD15,000USD23,000USD42,000USD68,000USD
    Non Currrent Assets Other—579,000USD383,000USD50,000USD50,000USD50,000USD50,000USD50,000USD
    Net Working Capital—433,969,000USD366,044,000USD385,440,000USD217,434,000USD233,795,000USD256,235,000USD270,250,000USD
    Unclassified Equity—686,343,000USD593,401,000USD589,786,000USD400,014,000USD396,744,000USD394,882,000USD393,171,000USD
    Other Assets————1,000USD———
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Total Assets385,144,000USD268,535,000USD84,180,000USD45,095,000USD
    Other Current Assets5,714,000USD4,455,000USD2,581,000USD1,608,000USD
    Total Liab15,921,000USD11,093,000USD156,648,000USD87,700,000USD
    Total Stockholder Equity369,223,000USD257,442,000USD-72,468,000USD-42,605,000USD
    Other Current Liab12,346,000USD5,545,000USD2,382,000USD2,318,000USD
    Common Stock6,000USD5,000USD1,000USD1,000USD
    Capital Stock6,000USD5,000USD1,000USD1,000USD
    Retained Earnings-224,476,000USD-137,505,000USD-75,583,000USD-43,020,000USD
    Cash75,289,000USD49,351,000USD30,523,000USD24,210,000USD
    Cash And Short Term Investments373,705,000USD262,149,000USD80,676,000USD42,461,000USD
    Total Current Assets381,539,000USD267,286,000USD83,465,000USD44,211,000USD
    Total Current Liabilities15,495,000USD11,051,000USD3,926,000USD3,431,000USD
    Net Debt-74,693,000USD-49,180,000USD-30,199,000USD-23,749,000USD
    Short Term Debt172,000USD171,000USD153,000USD137,000USD
    Short Long Term Debt Total596,000USD171,000USD324,000USD461,000USD
    Short Term Investments298,416,000USD212,798,000USD50,153,000USD18,251,000USD
    Net Receivables2,120,000USD682,000USD208,000USD142,000USD
    Accounts Payable2,977,000USD5,335,000USD1,391,000USD976,000USD
    Property Plant Equipment Net3,222,000USD1,199,000USD665,000USD842,000USD
    Property Plant Equipment Gross3,892,000USD1,621,000USD843,000USD898,000USD
    Accumulated Other Comprehensive Income286,000USD55,000USD60,000USD3,000USD
    Common Stock Shares Outstanding36,506,092shares33,392,615shares31,853,698shares31,853,698shares
    Non Current Assets Total3,605,000USD1,249,000USD715,000USD884,000USD
    Non Current Liabilities Total426,000USD42,000USD152,722,000USD84,269,000USD
    Non Current Liabilities Other2,000USD42,000USD194,000USD66,000USD
    Non Currrent Assets Other383,000USD50,000USD50,000USD42,000USD
    Net Working Capital366,044,000USD256,235,000USD79,539,000USD40,780,000USD
    Unclassified Equity593,401,000USD394,882,000USD3,053,000USD—
    Unclassified Non Current Liabilities——152,528,000USD84,203,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Net Income-23,517,000USD-22,062,000USD-21,618,000USD-19,411,000USD-23,880,000USD-15,586,000USD-18,142,000USD-15,857,000USD
    Depreciation-579,000USD865,000USD50,000USD-979,000USD77,000USD58,000USD75,000USD63,000USD
    Stock Based Compensation5,484,000USD2,656,000USD2,245,000USD1,937,000USD1,839,000USD1,488,000USD1,192,000USD919,000USD
    Other Non Cash Items98,000USD-1,328,000USD-702,000USD101,000USD-1,314,000USD-1,370,000USD-560,000USD-414,000USD
    Change In Working Capital-1,694,000USD1,568,000USD-1,511,000USD918,000USD600,000USD-627,000USD2,771,000USD2,019,000USD
    Total Cash From Operating Activities-20,208,000USD-18,301,000USD-21,536,000USD-17,434,000USD-22,678,000USD-16,037,000USD-14,664,000USD-13,270,000USD
    Capital Expenditures-437,000USD-793,000USD-399,000USD-707,000USD-30,000USD-92,000USD-57,000USD-452,000USD
    Free Cash Flow-20,645,000USD-19,094,000USD-21,935,000USD-18,141,000USD-22,708,000USD-16,129,000USD-14,721,000USD-13,722,000USD
    Investments-96,660,000USD-129,180,000USD17,056,000USD25,986,000USD3,226,000USD-67,345,000USD-100,788,000USD-7,891,000USD
    Total Cashflows From Investing Activities-97,097,000USD-129,973,000USD17,056,000USD25,986,000USD3,226,000USD-67,345,000USD-100,788,000USD-7,891,000USD
    Total Cash From Financing Activities87,435,000USD438,000USD187,824,000USD1,326,000USD4,000USD-132,000USD235,814,000USD-1,761,000USD
    Issuance Of Capital Stock85,371,000USD0USD——0USD0USD——
    Change In Cash-29,870,000USD-147,836,000USD183,344,000USD9,878,000USD-19,448,000USD-83,514,000USD120,362,000USD-22,922,000USD
    Begin Period Cash Flow75,289,000USD223,125,000USD39,781,000USD29,903,000USD49,351,000USD132,865,000USD12,503,000USD35,425,000USD
    End Period Cash Flow45,419,000USD75,289,000USD223,125,000USD39,781,000USD29,903,000USD49,351,000USD132,865,000USD12,503,000USD
    Other Cashflows From Financing Activities87,435,000USD438,000USD187,824,000USD—4,000USD-132,000USD235,814,000USD—
    Unclassified Financing Cash Flow-85,371,000USD———————
    Other Cashflows From Investing Activities——17,455,000USD1,000,000USD5,000,000USD———
    Unclassified Investing Cash Flow——-17,056,000USD—-4,970,000USD———
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Net Income-86,971,000USD-61,922,000USD-32,563,000USD-26,135,000USD
    Depreciation-3,611,000USD244,000USD157,000USD56,000USD
    Stock Based Compensation8,677,000USD5,222,000USD2,043,000USD306,000USD
    Other Non Cash Items381,000USD-2,822,000USD-880,000USD1,361,000USD
    Change In Working Capital1,575,000USD4,597,000USD-735,000USD1,290,000USD
    Total Cash From Operating Activities-79,949,000USD-54,681,000USD-31,978,000USD-23,122,000USD
    Capital Expenditures-1,929,000USD-874,000USD-129,000USD-441,000USD
    Free Cash Flow-81,878,000USD-55,555,000USD-32,107,000USD-23,563,000USD
    Investments-81,776,000USD-160,595,000USD-30,927,000USD-11,411,000USD
    Total Cashflows From Investing Activities-83,705,000USD-160,595,000USD-30,927,000USD-11,411,000USD
    Total Cash From Financing Activities189,592,000USD234,104,000USD69,218,000USD46,063,000USD
    Issuance Of Capital Stock187,948,000USD238,042,000USD68,509,000USD36,491,000USD
    Change In Cash25,938,000USD18,828,000USD6,313,000USD11,530,000USD
    Begin Period Cash Flow49,351,000USD30,523,000USD24,210,000USD12,680,000USD
    End Period Cash Flow75,289,000USD49,351,000USD30,523,000USD24,210,000USD
    Other Cashflows From Investing Activities8,500,000USD———
    Other Cashflows From Financing Activities189,592,000USD59,562,000USD69,218,000USD36,063,000USD
    Unclassified Investing Cash Flow-8,500,000USD———
    Unclassified Financing Cash Flow-187,948,000USD-63,500,000USD-68,509,000USD-36,491,000USD
    Net Borrowings——0USD10,000,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    No revenue breakdown is currently published for this company.

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.