M.B.X. Biosciences
Develops precision peptide therapies for endocrine and metabolic disorders.
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Profile
Develops precision peptide therapies for endocrine and metabolic disorders through a clinical-stage pipeline. The portfolio centers on canvuparatide for chronic hypoparathyroidism, obesity candidates including MBX 4291 and MBX 5765, and imapextide for post-bariatric hypoglycemia, with no approved products or product-sales revenue.
Develops precision peptide therapies for endocrine and metabolic disorders from a single reportable segment. The pipeline is clinical and preclinical rather than commercial, with canvuparatide as the most advanced program for chronic hypoparathyroidism.
Obesity work includes MBX 4291, a GLP-1/GIP co-agonist prodrug in clinical evaluation, and MBX 5765, an amycretin prodrug candidate moving through enabling studies. Imapextide adds a program for post-bariatric hypoglycemia.
Based in Carmel, Indiana, the company has no approved products or product-sales revenue. Its business depends on trial execution, regulatory clearance, intellectual-property protection, and continued financing before any marketed therapy can generate revenue.
Company facts
Key statistics
Year to date +106% · Average volume (30d) 475.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 10, 2026 | Truist Financial | Target | $70 | $88 | |
| Aug 7, 2026 | Barclays | Reiterate | Overweight | $70 | $88 |
| Jul 23, 2026 | UBS | Reiterate | Buy | $60 | $90 |
| May 12, 2026 | Stifel Nicolaus | Target | $50 | $56 | |
| May 12, 2026 | Barclays | Reiterate | Overweight | $66 | $70 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.63 | −$0.78 | −23.3% | — | — | — | −0.55% |
| May 7, 2026Q1 FY26 | −$0.62 | −$0.51 | +17.7% | — | — | — | +18.04% |
| Mar 12, 2026Q4 FY25 | −$0.64 | −$0.49 | +23.4% | — | — | — | +0.18% |
| Nov 6, 2025Q3 FY25 | −$0.73 | −$0.63 | +13.7% | — | — | — | +3.35% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | −$100.0K | −$60.0K | −$64.0K | $0 | |
| Operating income | −$26.5M | −$21.8M | −$23.9M | −$25.8M | −$27.3M | −$40.9M | |
| Net income | −$23.9M | −$19.4M | −$21.6M | −$22.1M | −$23.5M | −$37.1M | |
| Diluted EPS | −$0.71 | −$0.58 | −$0.63 | −$0.49 | −$0.50 | −$0.78 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $418.6M · Total debt $3.3M · Total assets $435.9M · Shareholders' equity $409.5M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 47.60M · Float 20.70M · 43.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Frazier Life Sciences Management, L.P. | 6.65M | 13.98% | 13F | May 15, 2026 |
| Patrick J. Heron | 5.24M | 11.70% | 13D | Aug 10, 2026 |
| Edward T. Mathers | 3.62M | 8.10% | 13D | Nov 10, 2025 |
| Nea Management Company, LLC | 3.61M | 7.59% | 13F | May 15, 2026 |
| Wellington Management Group LLP | 3.19M | 6.71% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 4, 2026 | Salomon Azoulay | officer: Chief Medical Officer | −370 | $65.77 |
| May 8, 2026 | Salomon Azoulay | officer: Chief Medical Officer | −70,003 | $38.36 |
| May 6, 2026 | P. Kent Hawryluk | director, officer: President & CEO | −607 | $29.54 |
| May 6, 2026 | Salomon Azoulay | officer: Chief Medical Officer | −231 | $29.54 |
| Mar 13, 2026 | P. Kent Hawryluk | director, officer: President & CEO | +18,500 | $28.41 |
Peers
- Ascendis Pharma (ADR)
Commercial PTH replacement leader in adult hypoparathyroidism
- Eli Lilly
Dominant incretin franchise with marketed obesity medicines
- Novo Nordisk (ADR)
Global GLP-1 obesity incumbent with Wegovy and amylin programs
- Amgen
Monthly obesity challenger with Phase 3 MariTide
- Viking Therapeutics
Phase 3 GLP-1/GIP obesity peer with oral and injectable plans
- AstraZeneca (ADR)
Late-stage PTH receptor agonist competitor in hypoparathyroidism
- Amylyx Pharmaceuticals
Pivotal PBH competitor with GLP-1 receptor antagonist avexitide
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| M.B.X. Biosciences | $63.00 | +0.02% | $3.00B | — | — | — | — |
| Ascendis Pharma (ADR) | $247.91 | 0.00% | $15.40B | 18.7 | 31.9 | 12.6 | +108.2% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Novo Nordisk (ADR) | $45.60 | +0.00% | $202.54B | 11.2 | 18.4 | 4.0 | +0.0% |
| Amgen | $430.27 | −0.49% | $233.38B | 26.9 | 18.4 | 6.1 | +9.7% |
| Viking Therapeutics | $32.24 | +0.31% | $3.75B | — | — | — | — |
| AstraZeneca (ADR) | $161.79 | −0.55% | $252.33B | 24.4 | 15.2 | 4.1 | +6.4% |
| Amylyx Pharmaceuticals | $34.85 | +0.35% | $3.86B | — | — | — | — |
| Median | 24.4 | 18.4 | 6.1 | +9.7% |