MBX Biosciences, Inc. MBX
We are a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide ("PEP") platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients. Our PEPs are selectively engineered to have optimized pharmaceutical properties, including extended time-action profiles and consistent drug concentrations with low peak-to-trough concentration ratios, consistent exposure to target tissues, and less frequent dosing. We are advancing a pipeline of novel candidates for endocrine and metabolic disorders with clinically validated targets, established endpoints for regulatory approval, significant unmet medical needs and large potential market opportunities. Our product candidates and programs include:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| R&D | $79.2M | $57.4M | $28.5M | — |
| SG&A | $18.9M | $10.8M | $6.8M | — |
| Total operating expenses | $98.1M | $68.2M | $35.3M | — |
| Operating income | -$98.1M | -$68.2M | -$35.3M | — |
| Pre-tax income | -$87.0M | -$61.9M | -$32.6M | — |
| Income tax | $0 | $0 | $0 | — |
| Net income | -$87.0M | -$61.9M | -$32.6M | — |
| EPS, basic | -2.38 | -5.82 | -31.96 | — |
| EPS, diluted | -2.38 | -5.82 | -31.96 | — |
| Shares, diluted (wtd. avg.) | $36.5M | $10.6M | $1.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $75.3M | $49.4M | $30.5M | — |
| Short-term investments | $298.4M | $212.8M | $50.2M | — |
| Total current assets | $381.5M | $267.3M | $83.5M | — |
| Property, plant and equipment | $2.7M | $1.1M | $439.0K | — |
| Total assets | $385.1M | $268.5M | $84.2M | — |
| Accounts payable | $3.0M | $5.3M | $1.4M | — |
| Total current liabilities | $15.5M | $11.1M | $3.9M | — |
| Total liabilities | $15.9M | $11.1M | $4.3M | — |
| Retained earnings | -$224.5M | -$137.5M | -$75.6M | — |
| Total equity | $369.2M | $257.4M | -$72.5M | -$42.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$79.9M | -$54.7M | -$32.0M | — |
| Depreciation and amortisation | $248.0K | $244.0K | $157.0K | — |
| Stock-based compensation | $8.7M | $5.2M | $2.0M | — |
| Capital expenditure | $1.9M | $874.0K | $129.0K | — |
| Investing cash flow | -$83.7M | -$160.6M | -$30.9M | — |
| Financing cash flow | $189.6M | $234.1M | $69.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-103121.
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