---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-103118"
form_type: "8-K"
ticker: "MBX"
cik: "0001776111"
company_name: "MBX Biosciences, Inc."
filed_at: "2026-03-12T23:59:59+00:00"
generated_at: "2026-05-15T13:43:27.112590+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MBX Biosciences reports FY2025 net loss of $87M; Phase 3 canvuparatide on track for Q3 2026

## Summary
- Net loss FY2025 $87.0M vs $61.9M in 2024; R&D expenses $79.2M, up from $57.4M.
- Pro forma cash & investments $459.1M including $85.4M ATM net proceeds; runway into 2029.
- Phase 3 trial of once-weekly canvuparatide for hypoparathyroidism to initiate Q3 2026 after successful End-of-Phase 2 FDA meeting.
- MBX 4291 (obesity) 12-week MAD data expected Q4 2026; two additional obesity candidates to be nominated in Q2 and Q3 2026.
- Appointed Laurie Stelzer to Board and Karen Basbaum as CBO in early 2026.

## SEC filing metadata
- accession: 0001193125-26-103118
- form_type: 8-K
- ticker: MBX
- cik: 0001776111
- company_name: MBX Biosciences, Inc.
- filed_at: 2026-03-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1776111/000119312526103118/0001193125-26-103118-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1776111/000119312526103118/mbx-20260312.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-103118
- JSON: https://secwatch.observer/filing/0001193125-26-103118.json
- Plain text: https://secwatch.observer/filing/0001193125-26-103118.txt

## Key facts
- Earnings Releases
  MBX Biosciences, Inc. reported the full year ended December 31, 2025 results: net income $87.0 million.
  - Period: the full year ended December 31, 2025
  - Net income: $87.0 million
  - Result: reported results
  source text: Net loss for the full year ended December 31, 2025 was $87.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1776111/000119312526103118/0001193125-26-103118-index.htm
- Earnings Releases
  MBX Biosciences, Inc. reported the three months ended December 31, 2025 results: net income $22.1 million.
  - Period: the three months ended December 31, 2025
  - Net income: $22.1 million
  - Result: reported results
  source text: Net loss for the three months ended December 31, 2025, was $22.1 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1776111/000119312526103118/0001193125-26-103118-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.