MBX posts positive Phase 2 results for canvuparatide; Q3 net loss $21.6M; cash $391.7M

MBX Biosciences, Inc.

2025-Q3 EPS reported -$1.93

Q3 2025 net loss $21.6M vs $18.1M YoY; cash and equivalents $391.7M (includes $200M offering proceeds) funding into 2029.
Positive Phase 2 topline: 63% of canvuparatide-treated patients met composite endpoint at 12 weeks; 79% at 6 months in open-label extension.
Dosed first participant in Phase 1 trial of MBX 4291 (GLP-1/GIP co-agonist) for obesity; results from MAD portion expected Q4 2026.
Dosed first patient in Phase 2a trial of imapextide for post-bariatric hypoglycemia; results expected Q2 2026.
Director changes: James Cornelius resigned Oct 31; Steven Hoerter appointed executive chairman effective Nov 6, 2025.

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