MBX Biosciences Completes Expanded IPO with Underwriters' Option Fully Exercised

MBX Biosciences, Inc., a clinical-stage biopharmaceutical company based in Carmel, Indiana, recently closed its initial public offering (IPO) of 11,730,000 shares of common stock at $16.00 per share. This offering included 1,530,000 additional shares purchased by underwriters through their option to buy more stock. The total gross proceeds from this IPO amounted to approximately $187.7 million before factoring in underwriting discounts, commissions, and offering expenses.

The company's shares began trading on the Nasdaq Global Select Market on September 13, 2024, under the ticker symbol "MBX." The joint book-running managers for this IPO were J.P. Morgan, Jefferies, Stifel, and Guggenheim Securities. The registration statement for this offering was filed with the Securities and Exchange Commission and was declared effective on September 12, 2024. The offering was made via a prospectus, copies of which could be obtained from the joint book-running managers.

MBX Biosciences is dedicated to the discovery and development of innovative precision peptide therapies for treating endocrine and metabolic disorders. The company was founded by global leaders in peptide drug design and development, utilizing their proprietary Precision Endocrine Peptide™ (PEP™) platform. This platform is engineered to overcome the limitations of traditional peptide therapies, aiming to improve clinical outcomes and simplify disease management for patients. The PEPs are designed with optimized pharmaceutical properties, such as extended time-action profiles, consistent drug concentrations, and less frequent dosing, which ensures better exposure to target tissues.

The company’s current pipeline includes MBX 2109, a lead product candidate in Phase 2 development for treating chronic hypoparathyroidism. Another candidate, MBX 1416, is in Phase 1 development for post-bariatric hypoglycemia. Additionally, MBX Biosciences is developing an obesity portfolio that includes MBX 4291 and several other candidates in discovery and pre-clinical stages. Each of these candidates targets significant unmet medical needs and has large potential market opportunities. The goals of these therapies are aligned with clinically validated targets and established endpoints for regulatory approval.

MBX Biosciences was founded with a transformative approach to peptide drug design and development. The company's efforts are focused on enhancing the pharmacological properties of peptides to address the challenges associated with conventional and modified peptide therapies. This approach aims to provide patients with more effective and manageable treatment options.

In summary, MBX Biosciences aims to leverage its expertise in peptide drug design to develop therapies that address significant medical needs in endocrinology and metabolism. With its successful IPO, the company is well-positioned to advance its pipeline and continue its mission of improving patient outcomes through innovative therapies.