MBX Biosciences, Inc. Common Stock

MBX Biosciences, Inc. reported a net loss of $87.0 million for the fiscal year ended December 31, 2025, compared to a net loss of $61.9 million in the prior year. The increased loss was driven by a significant rise in operating expenses, which totaled $98.1 million, up from $68.2 million in 2024. Research and development expenses increased to $79.2 million, primarily due to advancing the Phase 2 clinical trial and manufacturing for canvuparatide, initiating the Phase 1 trial for MBX 4291, and pipeline development. General and administrative expenses rose to $18.9 million, supporting infrastructure growth. The company generated $11.1 million in interest and other income from its cash and marketable securities. As of December 31, 2025, MBX had $373.7 million in cash, cash equivalents, and marketable securities, which it believes will fund operations into 2029. The company remains a clinical-stage biopharmaceutical company with no product revenue, focusing on developing peptide therapies for endocrine and metabolic disorders.

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