MBX Biosciences, Inc. is a biopharmaceutical company in its clinical development phase, dedicated to pioneering precise peptide-based therapies for endocrine and metabolic ...
MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on the discovery and development of precision peptide medicines for endocrine and metabolic disorders. The company was founded in 2018, initially as MBX Biosciences LLC in Indiana, and later converted to a Delaware corporation. It is headquartered at 11711 N. Meridian ...MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on the discovery and development of precision peptide medicines for endocrine and metabolic disorders. The company was founded in 2018, initially as MBX Biosciences LLC in Indiana, and later converted to a Delaware corporation. It is headquartered at 11711 N. Meridian Street in Carmel, Indiana. MBX completed its initial public offering on September 13, 2024, and its common stock trades on the Nasdaq Global Select Market under the ticker MBX.
The company’s development strategy centers on engineered peptide prodrugs and long-acting peptide therapies intended to provide more precise, durable, and convenient treatment than conventional hormone or metabolic medicines. Its most advanced disclosed program is MBX 2109, a parathyroid hormone peptide prodrug being evaluated in Phase 2 clinical trials. The program is intended as a long-duration hormone-replacement treatment for people with chronic hypoparathyroidism, a disorder in which the body does not produce sufficient parathyroid hormone and therefore has difficulty regulating calcium and phosphate levels. A successful therapy could potentially address limitations associated with frequent dosing and the need for ongoing disease management.
MBX is also developing MBX 1416, a prolonged-action glucagon-like peptide-1, or GLP-1, receptor antagonist. This program is in Phase 1 clinical development for post-bariatric hypoglycemia, a condition that can occur after weight-loss surgery and cause episodes of abnormally low blood glucose. In addition, MBX 4291 is an investigational obesity candidate in IND-enabling studies. It is described as a potent, long-acting prodrug designed to co-agonize the GLP-1 and glucose-dependent insulinotropic polypeptide, or GIP, receptors, with the goal of treating obesity and associated metabolic comorbidities.
As a clinical-stage company, MBX does not yet have an established commercial product or meaningful recurring product revenue based on the supplied trailing information. Its financial profile therefore reflects research and development spending, clinical-trial costs, regulatory work, manufacturing preparation, and general corporate expenses rather than product sales. The supplied data show approximately $3.23 billion in market capitalization, approximately $3.18 billion in enterprise value, negative free cash flow of about $105.8 million, and a current ratio of approximately 18.1. These figures indicate substantial liquidity relative to short-term liabilities, but also the cash-burning profile typical of a biotechnology company progressing through clinical development. The company reported approximately 63 full-time employees, placing it in the 0-100 employee category. Steve Hoerter serves as Chairman and Chief Executive Officer, supported by a leadership team that includes Chief Medical Officer Sam Azoulay and Chief Business Officer Karen Basbaum. MBX’s principal long-term objective is to advance its peptide pipeline through clinical validation, regulatory approval, and eventual commercialization while addressing significant unmet needs in endocrine and metabolic medicine.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$0
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Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-87.0M
-40.5%
-57.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
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Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
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Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
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Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-81.9M
-47.4%
-13.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
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Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.2%
+143.0%
+543.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
24.62x
+1.8%
-41.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.