Logo

MBX

MBX Biosciences, Inc. Common Stock

MBX

MBX Biosciences, Inc. Common Stock • NASDAQ
$34.49 ▲ 1.98% (+0.67)
Market Cap $1.16 B
52w High $34.83
52w Low $4.81
Dividend Yield 0%
P/E 4.5
Volume 200.93K
Outstanding Shares 33.59M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $23.926M ▲ $-21.618M ▼ 0% $-0.63 ▼ $-21.568M ▲
Q2-2025 $0 $21.805M ▼ $-19.411M ▲ 0% $-0.58 ▲ $-21.744M ▲
Q1-2025 $0 $26.529M ▲ $-23.88M ▼ 0% $-0.71 ▼ $-26.452M ▼
Q4-2024 $0 $18.61M ▼ $-15.586M ▲ 0% $-0.47 ▲ $-18.552M ▲
Q3-2024 $0 $19.612M $-18.142M 0% $-0.54 $-19.537M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $391.673M ▲ $400.076M ▲ $12.538M ▲ $387.538M ▲
Q2-2025 $224.906M ▼ $231.522M ▼ $12.283M ▲ $219.239M ▼
Q1-2025 $240.786M ▼ $245.926M ▼ $10.504M ▼ $235.422M ▼
Q4-2024 $262.149M ▼ $268.535M ▼ $11.093M ▲ $257.442M ▼
Q3-2024 $277.063M $282.4M $11.032M $271.368M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-21.618M ▼ $-21.536M ▼ $17.056M ▼ $187.824M ▲ $183.344M ▲ $-21.935M ▼
Q2-2025 $-19.411M ▲ $-17.434M ▲ $25.986M ▲ $1.326M ▲ $9.878M ▲ $-18.141M ▲
Q1-2025 $-23.88M ▼ $-22.678M ▼ $3.226M ▲ $4K ▲ $-19.448M ▲ $-22.708M ▼
Q4-2024 $-15.586M ▲ $-16.037M ▼ $-67.345M ▲ $-132K ▼ $-83.514M ▼ $-16.129M ▼
Q3-2024 $-18.142M $-14.664M $-100.788M $235.814M $120.362M $-14.721M

Five-Year Company Overview

Income Statement

Income Statement MBX is still a pure research-stage biotech with no product revenue yet, so all activity runs through research and operating expenses. Losses have been widening over the past few years as the company scales up clinical trials and builds its pipeline, which is typical at this stage. The pattern suggests MBX is deliberately investing more in development rather than cutting back to narrow losses. The key point: the income statement today reflects a company in build‑out mode, not one optimized for profitability.

Balance Sheet

Balance Sheet The balance sheet has strengthened over time, with total assets and cash rising and shareholder equity swinging from negative to clearly positive. MBX carries effectively no financial debt, which gives it flexibility and reduces pressure from lenders. The asset base is still relatively small, but it is increasingly funded by equity rather than obligations, which is a healthier structure for an early-stage biotech. Overall, the balance sheet looks clean, with the main risk being the need for future funding as programs advance.

Cash Flow

Cash Flow Cash flows show a classic early-biotech profile: steady cash outflows from operations as R&D spending ramps up, and little to no spending on physical assets. Free cash flow is negative and has been drifting more negative as the pipeline progresses, which is expected before any products reach the market. External capital (equity raises or partnerships) is what supports this spending; management has indicated that current cash should cover operations for several more years, but long term the company will likely need additional funding if development timelines extend. The main thing to watch is how quickly the cash burn rises as later-stage trials begin.

Competitive Edge

Competitive Edge MBX’s competitive position is built around its Precision Endocrine Peptide platform, which aims to create long‑acting, precisely targeted hormone‑based drugs. The company is focusing on endocrine and metabolic disorders where current options are inconvenient, inadequate, or non‑existent, such as chronic hypoparathyroidism and post‑bariatric hypoglycemia, which can offer more defensible niches. At the same time, MBX is stepping into the extremely competitive obesity field, where large pharma players dominate; here its edge would need to come from less frequent dosing and potentially better tolerability. Strong leadership experience in endocrine drugs and a growing patent portfolio support its moat, but real competitive strength will ultimately depend on clinical outcomes and the ability to stand out against much larger rivals.

Innovation and R&D

Innovation and R&D Innovation is the core of MBX’s story. The PEP platform is designed to turn natural hormones into longer‑acting, more convenient medicines through smart chemistry and prodrug design, which could meaningfully improve patient experience if trials succeed. The pipeline spans a late‑stage candidate for chronic hypoparathyroidism, a mid‑stage program for post‑bariatric hypoglycemia, and early obesity programs aiming for once‑monthly dosing. R&D spending is clearly the priority, and the company is actively pushing multiple programs forward at once, which offers several shots on goal but also concentrates risk in clinical and regulatory milestones. Future value will be driven almost entirely by how well these programs translate from promising early data into robust late‑stage results.

Summary

MBX is an early, research‑driven biotech with no commercial revenue yet, a clean but still developing balance sheet, and a predictable pattern of rising cash burn as its pipeline advances. Its main strengths lie in a focused endocrine and metabolic franchise, a differentiated long‑acting peptide technology, and leadership with deep experience in bringing similar drugs to market. Key risks include total reliance on future trial success, the need for ongoing access to capital, and intense competition in obesity and certain endocrine niches. For now, MBX is best viewed as a high‑uncertainty, clinical‑stage platform story where the financials mainly reflect investment in innovation rather than business maturity, and where upcoming trial results will likely be far more important than historical numbers.

NEWS

November 18, 2025 · 8:00 AM UTC

MBX Biosciences to Participate in the 37th Annual Piper Sandler Healthcare Conference

Read more

November 6, 2025 · 8:00 AM UTC

MBX Biosciences Reports Third Quarter 2025 Financial Results and Recent Corporate Highlights

Read more

October 20, 2025 · 8:00 AM UTC

MBX Biosciences to Participate in November Investor Conferences

Read more

September 29, 2025 · 8:00 AM UTC

MBX Biosciences to Participate in the Stifel 2025 Virtual Cardiometabolic Forum

Read more

September 24, 2025 · 9:15 PM UTC

MBX Biosciences Announces Pricing of Upsized Public Offering

Read more