Every 10-Q that MBX Biosciences, Inc. (MBX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MBX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MBX filings page.
MBX Biosciences, Inc., a clinical-stage biopharmaceutical company focused on endocrine and metabolic disorders, reported a net loss of $37.1 million for the quarter ended June 30, 2026, compared with $19.4 million a year earlier. Operating expenses rose to $40.9 million, driven by higher research and development spending of $31.0 million as the company advanced canvuparatide (MBX 2109), MBX 4291, imapextide (MBX 1416) and preclinical programs; general and administrative expense increased to $9.9 million, mainly from headcount growth and stock-based compensation. Interest and other income of $3.8 million partly offset the operating loss.
For the first six months of 2026, net loss was $60.6 million. As of June 30, 2026, MBX held $418.6 million in cash, cash equivalents and marketable securities and had total assets of $435.9 million. This liquidity reflects proceeds from its IPO, a September 2025 underwritten offering and a February 2026 at-the-market sale of 2,250,986 shares, and the company believes these resources will fund its current operating plan into 2029.
Clinically, MBX completed End of Phase 2 interactions for canvuparatide and presented Phase 2 and one-year extension data, and plans to initiate a Phase 3 trial in the third quarter of 2026. A Phase 1 trial of obesity candidate MBX 4291 is ongoing, with 12‑week MAD cohort results expected in the fourth quarter of 2026; obesity candidates MBX 5765 and MBX 6180 are in IND‑enabling studies. Imapextide achieved proof of concept in post-bariatric hypoglycemia, but MBX does not plan further investment in a Phase 2b trial. After quarter end, founding CEO Kent P. Hawryluk departed, executive chair Steven Hoerter became President and CEO, and John Smither was appointed CFO. MBX expects to recognize $15–$20 million of stock-based compensation in the third quarter of 2026 related to the former CEO’s separation.
MBX Biosciences reported a Q1 2026 net loss of $23.5 million, similar to the prior year, as it advances multiple endocrine and metabolic drug programs. Research and development spending was $18.5 million, down mainly from lower MBX 4291 and imapextide costs, while general and administrative expenses rose to $8.8 million as the company scaled its public-company infrastructure.
MBX strengthened its balance sheet, ending March 31, 2026 with $440.0 million in cash, cash equivalents and marketable securities after a February 2026 at-the-market equity sale that raised $87.1 million in gross proceeds. Management believes this cash can fund operations into 2029 while it prepares a Phase 3 trial of canvuparatide for hypoparathyroidism, continues Phase 1 work on obesity candidate MBX 4291 and runs a Phase 2a study of imapextide for post-bariatric hypoglycemia.
MBX Biosciences (MBX) filed its Q3 2025 10‑Q, highlighting a stronger balance sheet after a September underwritten offering. The company reported a net loss of $21.6 million for the quarter as operating expenses rose with pipeline advancement. Research and development was $19.3 million and general and administrative was $4.7 million, reflecting continued clinical activity.
Liquidity improved materially: cash, cash equivalents and marketable securities were $391.7 million as of September 30, 2025, supported by the September 2025 offering of 11,108,055 shares at $18.00 for $187.4 million in net proceeds. Total assets were $400.1 million and stockholders’ equity was $387.5 million.
Pipeline updates: canvuparatide met the primary endpoint in Phase 2; the company plans End of Phase 2 interactions in Q1 2026 and a Phase 3 start in Q3 2026. MBX 4291 is in Phase 1 for obesity, and imapextide showed positive Phase 1 results with a Phase 2a in progress. Shares outstanding were 44,715,498 as of September 30, 2025; 44,902,302 as of November 3, 2025.
MBX Biosciences 10-Q (Q2 2025) — MBX reported cash, cash equivalents and marketable securities of $224.9 million and an accumulated deficit of $180.8 million as of June 30, 2025. Net loss was $43.3 million for the six months ended June 30, 2025; R&D expense was $40.13 million for the same period.
Development updates: enrollment for the Phase 2 canvuparatide trial is complete with topline data expected in Q3 2025; imapextide reported positive Phase 1 SAD/MAD results and a Phase 2a is anticipated to start in Q3 2025; MBX 4291 IND was submitted June 16, 2025 and cleared in July 2025 to proceed to Phase 1 in Q3 2025. Management expects liquidity to fund operations into mid-2027.