MBX Stock — MBX Biosciences Inc.: Cash, EV, Pipeline

Share price

$62.91

Market cap

$3,029.8M

Cash

$418.6M

Enterprise value

$2,611.2M

Balance sheet

Cash	$418.6M
Debt	$0.0M
Net cash	$418.6M
Enterprise value	$2,611.2M
Basic shares	47.9M shares
Fully diluted shares	57.9M shares
Fully diluted market cap	$3,644.0M
Cash per share	$8.74

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 11, 2026 - Jan 22, 2027	MBX 4291	Phase 1	Obesity	—
Jul 8 - Aug 19	400 µg of MBX 2109 once-weekly by subcutaneous injection	Phase 2	Hypoparathyroidism	—
Feb 12 - Mar 25	Canvuparatide	Phase 3	Hypoparathyroidism	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Canvuparatide

Stage not disclosed · Active Modality: peptide

Aliases MBX 2109

Target parathyroid hormone (PTH)

Indications

Hypoparathyroidism (Phase 3)

Status note Lead product candidate per the primary 10-Q; described as a parathyroid hormone peptide prodrug. Stage and indications not stated in the primary excerpts.

MBX 4291

Stage not disclosed · Active Modality: peptide

Target GLP-1/GIP

Indications

Obesity (Phase 1)

Status note Named product candidate in the primary 10-Q. Target/modality per 10-K fallback; stage and indications not stated in the primary excerpts.

Imapextide

Stage not disclosed · Active Modality: peptide

Aliases MBX 1416

Target GLP-1 receptor

Status note Named product candidate in the primary 10-Q. Target/modality per 10-K fallback; stage and indications not stated in the primary excerpts.

MBX 5765

Stage not disclosed · Active

Target GLP-1 / GIP / GCG / amylin+calcitonin receptors

Status note Named product candidate in the primary 10-Q. Stage, modality, target, and indications not stated in the excerpts.

MBX 6180

Stage not disclosed · Active

Target GLP-1 / GIP / GCG receptors

Status note Named product candidate in the primary 10-Q. Stage, modality, target, and indications not stated in the excerpts.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Canvuparatide
Lead indication	Hypoparathyroidism
Lead phase	Phase 3
Active trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07699471	Phase 3	Recruiting	Sponsor	MBX Biosciences	—	Hypoparathyroidism	—
NCT06531941	Phase 2	Active, not recruiting	Sponsor	MBX Biosciences	—	Hypoparathyroidism	—
NCT07142707	Phase 1	Recruiting	Sponsor	MBX Biosciences	—	Obesity	—

Sponsor-matched active trials from ClinicalTrials.gov (3 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for MBX Biosciences on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Frazier Life Sciences	6,652,013	no change	8.00%	2026-08-14
OrbiMed Advisors	3,428,736	-209,151	3.58%	2026-08-14
Braidwell LP	710,880	-781,587	1.45%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

MBX — MBX Biosciences Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders