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MBX Biosciences (MBX) Financials

MBX Biosciences logo
$37.50 +0.52 (+1.41%)
Closing price 05/13/2026 04:00 PM Eastern
Extended Trading
$36.51 -0.99 (-2.65%)
As of 05/13/2026 06:50 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for MBX Biosciences

Annual Income Statements for MBX Biosciences

This table shows MBX Biosciences' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -33 -62 -87
Consolidated Net Income / (Loss)		 -33 -62 -87
Net Income / (Loss) Continuing Operations		 -33 -62 -87
Total Pre-Tax Income 		-33 -62 -87
Total Operating Income		 -35 -68 -98
Total Gross Profit		 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 35 68 98
Selling, General & Admin Expense		 6.78 11 19
Research & Development Expense		 29 57 79
Total Other Income / (Expense), net		 2.75 6.27 11
Interest & Investment Income		 2.75 6.27 11
Basic Earnings per Share		 ($31.96) ($5.82) ($2.38)
Weighted Average Basic Shares Outstanding		 1.02M 10.64M 36.51M
Diluted Earnings per Share		 ($31.96) ($5.82) ($2.38)
Weighted Average Diluted Shares Outstanding		 1.02M 10.64M 36.51M
Weighted Average Basic & Diluted Shares Outstanding		 - 33.42M 47.51M

Quarterly Income Statements for MBX Biosciences

This table shows MBX Biosciences' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -10 -12 -16 -18 -16 -24 -19 -22 -22 -24
Consolidated Net Income / (Loss)		 -10 -12 -16 -18 -16 -24 -19 -22 -22 -24
Net Income / (Loss) Continuing Operations		 -10 -12 -16 -18 -16 -24 -19 -22 -22 -24
Total Pre-Tax Income 		-10 -12 -16 -18 -16 -24 -19 -22 -22 -24
Total Operating Income		 -11 -13 -17 -20 -19 -27 -22 -24 -26 -27
Total Gross Profit		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 11 13 17 20 19 27 22 24 26 27
Selling, General & Admin Expense		 1.87 2.27 2.26 2.87 3.39 4.12 4.08 4.66 6.04 8.79
Research & Development Expense		 9.07 11 14 17 15 22 18 19 20 18
Total Other Income / (Expense), net		 0.78 0.98 0.80 1.47 3.02 2.65 2.39 2.31 3.73 3.75
Interest & Investment Income		 0.78 0.98 0.80 1.47 3.02 2.65 2.39 2.31 3.73 3.75
Basic Earnings per Share		 ($9.40) ($10.26) ($12.62) ($2.78) $19.84 ($0.71) ($0.58) ($0.63) ($0.46) ($0.50)
Weighted Average Basic Shares Outstanding		 1.08M 1.20M 1.26M 6.52M 10.64M 33.41M 33.45M 34.20M 36.51M 46.58M
Diluted Earnings per Share		 ($9.40) ($10.26) ($12.62) ($2.78) $19.84 ($0.71) ($0.58) ($0.63) ($0.46) ($0.50)
Weighted Average Diluted Shares Outstanding		 1.08M 1.20M 1.26M 6.52M 10.64M 33.41M 33.45M 34.20M 36.51M 46.58M
Weighted Average Basic & Diluted Shares Outstanding		 - - - 33.42M 33.42M 33.42M 33.59M 44.90M 47.51M 47.60M

Annual Cash Flow Statements for MBX Biosciences

This table details how cash moves in and out of MBX Biosciences' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 6.31 19 26
Net Cash From Operating Activities		 -32 -55 -80
Net Cash From Continuing Operating Activities		 -32 -55 -80
Net Income / (Loss) Continuing Operations		 -33 -62 -87
Consolidated Net Income / (Loss)		 -33 -62 -87
Depreciation Expense		 0.16 0.24 0.25
Amortization Expense		 -1.04 -2.93 -3.61
Non-Cash Adjustments To Reconcile Net Income		 2.21 5.18 8.73
Changes in Operating Assets and Liabilities, net		 -0.74 4.75 1.65
Net Cash From Investing Activities		 -31 -161 -84
Net Cash From Continuing Investing Activities		 -31 -161 -84
Purchase of Property, Plant & Equipment		 -0.13 -0.87 -1.93
Purchase of Investments		 -64 -239 -358
Sale and/or Maturity of Investments		 33 80 268
Other Investing Activities, net		 - 0.00 8.50
Net Cash From Financing Activities		 69 234 190
Net Cash From Continuing Financing Activities		 69 234 190
Repurchase of Preferred Equity		 -0.03 -0.28 0.00
Repurchase of Common Equity		 0.00 -4.06 -0.77
Issuance of Debt		 - 0.00 188
Issuance of Preferred Equity		 69 64 0.00
Issuance of Common Equity		 0.00 175 0.00
Other Financing Activities, net		 0.74 0.40 2.42

Quarterly Cash Flow Statements for MBX Biosciences

This table details how cash moves in and out of MBX Biosciences' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -40 4.90 -23 120 -84 -19 9.88 183 -148 -30
Net Cash From Operating Activities		 -11 -11 -13 -15 -16 -23 -17 -22 -18 -20
Net Cash From Continuing Operating Activities		 -11 -11 -13 -15 -16 -23 -17 -22 -18 -20
Net Income / (Loss) Continuing Operations		 -8.84 -12 -16 -18 -16 -24 -19 -22 -22 -24
Consolidated Net Income / (Loss)		 -8.84 -12 -16 -18 -16 -24 -19 -22 -22 -24
Depreciation Expense		 0.04 0.05 0.06 0.08 0.06 0.08 0.06 0.05 0.06 0.06
Amortization Expense		 -0.60 -0.50 -0.44 -0.59 -1.40 -1.34 -0.98 -0.73 -0.56 -0.58
Non-Cash Adjustments To Reconcile Net Income		 1.21 1.61 0.98 1.11 1.48 1.83 1.41 2.79 2.66 5.48
Changes in Operating Assets and Liabilities, net		 -2.96 0.47 1.98 2.88 -0.59 0.64 1.48 -2.03 1.60 -1.65
Net Cash From Investing Activities		 -29 15 -7.89 -101 -67 3.23 26 17 -130 -97
Net Cash From Continuing Investing Activities		 -29 15 -7.89 -101 -67 3.23 26 17 -130 -97
Purchase of Property, Plant & Equipment		 -0.06 -0.27 -0.45 -0.06 -0.09 -0.03 -0.71 -0.40 -0.79 -0.44
Purchase of Investments		 -34 -8.55 -16 -128 -88 -59 -47 -46 -205 -154
Sale and/or Maturity of Investments		 5.00 24 8.25 27 20 57 73 61 76 58
Other Investing Activities, net		 - 0.00 - - - 5.00 1.00 2.50 - 0.00
Net Cash From Financing Activities		 0.02 0.18 -1.76 236 -0.13 0.00 1.33 188 0.44 87
Net Cash From Continuing Financing Activities		 0.02 0.18 -1.76 236 -0.13 0.00 1.33 188 0.44 87
Repurchase of Preferred Equity		 - 0.00 - -0.28 - 0.00 - - - 0.00
Repurchase of Common Equity		 - -0.01 -1.81 -1.92 -0.33 0.00 - -0.25 -0.52 -0.38
Issuance of Debt		 - - - - - 0.00 - - - 0.00
Issuance of Preferred Equity		 - 0.00 - 64 - 0.00 - - - 0.00
Issuance of Common Equity		 - 0.00 - 175 - 0.00 - - - 85
Other Financing Activities, net		 0.02 0.19 0.05 -0.03 0.20 0.00 1.33 0.13 0.96 2.44

Annual Balance Sheets for MBX Biosciences

This table presents MBX Biosciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Total Assets		 84 269 385
Total Current Assets		 83 267 382
Cash & Equivalents		 31 49 75
Short-Term Investments		 50 213 298
Prepaid Expenses		 2.79 5.14 7.83
Plant, Property, & Equipment, net		 0.44 1.08 2.74
Total Noncurrent Assets		 0.28 0.17 0.87
Other Noncurrent Operating Assets		 0.28 0.17 0.87
Total Liabilities & Shareholders' Equity		 84 269 385
Total Liabilities		 4.29 11 16
Total Current Liabilities		 3.93 11 15
Accounts Payable		 1.39 5.34 2.98
Accrued Expenses		 2.38 5.55 12
Other Current Liabilities		 0.15 0.17 0.17
Total Noncurrent Liabilities		 0.37 0.04 0.43
Other Noncurrent Operating Liabilities		 0.37 0.04 0.43
Commitments & Contingencies		 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 152 0.00 0.00
Total Equity & Noncontrolling Interests		 -72 257 369
Total Preferred & Common Equity		 -72 257 369
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 -72 257 369
Common Stock		 3.06 395 593
Retained Earnings		 -76 -138 -224
Accumulated Other Comprehensive Income / (Loss)		 0.06 0.06 0.29

Quarterly Balance Sheets for MBX Biosciences

This table presents MBX Biosciences' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 282 246 232 400 453
Total Current Assets		 281 244 229 398 449
Cash & Equivalents		 133 30 40 223 45
Short-Term Investments		 144 211 185 169 395
Prepaid Expenses		 4.11 3.49 4.28 5.83 8.56
Plant, Property, & Equipment, net		 1.03 1.51 1.73 2.00 3.13
Total Noncurrent Assets		 0.20 0.14 0.60 0.57 1.03
Other Noncurrent Operating Assets		 0.20 0.14 0.60 0.57 1.03
Total Liabilities & Shareholders' Equity		 282 246 232 400 453
Total Liabilities		 11 11 12 13 15
Total Current Liabilities		 11 10 12 12 15
Accounts Payable		 5.00 4.25 5.76 3.77 6.97
Accrued Expenses		 5.75 6.11 5.85 8.14 7.42
Other Current Liabilities		 0.17 0.13 0.14 0.15 0.18
Total Noncurrent Liabilities		 0.11 0.02 0.53 0.48 0.38
Other Noncurrent Operating Liabilities		 0.11 0.02 0.53 0.48 0.38
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 271 235 219 388 438
Total Preferred & Common Equity		 271 235 219 388 438
Preferred Stock		 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 271 235 219 388 438
Common Stock		 393 397 400 590 686
Retained Earnings		 -122 -161 -181 -202 -248
Accumulated Other Comprehensive Income / (Loss)		 0.11 0.05 0.01 0.15 -0.61

Annual Metrics And Ratios for MBX Biosciences

This table displays calculated financial ratios and metrics derived from MBX Biosciences' official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 - 44,902,302.00
DEI Adjusted Shares Outstanding		 0.00 - 44,902,302.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 - -1.94
Growth Metrics		 - - -
Profitability Metrics		 - - -
Net Operating Profit after Tax (NOPAT)		 -25 -48 -69
Return On Investment Capital (ROIC_SIMPLE)		 34.11% -18.54% -18.59%
Earnings before Interest and Taxes (EBIT)		 -35 -68 -98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -36 -71 -101
Valuation Ratios		 - - -
Leverage & Solvency		 - - -
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -44 -69
Efficiency Ratios		 - - -
Capital & Investment Metrics		 - - -
Invested Capital		 -0.79 -4.71 -4.48
Increase / (Decrease) in Invested Capital		 0.00 -3.92 0.23
Book Value per Share		 ($71.13) $7.70 $8.22
Tangible Book Value per Share		 ($71.13) $7.70 $8.22
Total Capital		 80 257 369
Total Debt		 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00
Net Debt		 -81 -262 -374
Capital Expenditures (CapEx)		 0.13 0.87 1.93
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.14 -5.91 -7.66
Debt-free Net Working Capital (DFNWC)		 80 256 366
Net Working Capital (NWC)		 80 256 366
Net Nonoperating Expense (NNE)		 7.85 14 18
Net Nonoperating Obligations (NNO)		 -81 -262 -374
Total Depreciation and Amortization (D&A)		 -0.89 -2.68 -3.36
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 ($5.82) ($2.38)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 10.64M 36.51M
Adjusted Diluted Earnings per Share		 $0.00 ($5.82) ($2.38)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 10.64M 36.51M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 33.42M 47.51M
Normalized Net Operating Profit after Tax (NOPAT)		 -25 -48 -69
Debt Service Ratios		 - - -
Payout Ratios		 - - -

Quarterly Metrics And Ratios for MBX Biosciences

This table displays calculated financial ratios and metrics derived from MBX Biosciences' official financial filings.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 0.00 0.00 0.00 0.00 33,417,418.00 33,424,371.00 33,424,371.00 33,593,866.00 44,902,302.00 47,510,243.00
DEI Adjusted Shares Outstanding		 0.00 0.00 0.00 0.00 33,417,418.00 33,424,371.00 33,424,371.00 33,593,866.00 44,902,302.00 47,510,243.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 0.00 0.00 -0.47 -0.71 -0.58 -0.64 -0.49 -0.50
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
EBITDA Growth		 0.00% 0.00% 0.00% -83.86% - -101.87% -33.38% -22.29% - 0.05%
EBIT Growth		 0.00% 0.00% 0.00% -79.19% - -99.26% -30.90% -22.00% - -2.77%
NOPAT Growth		 0.00% 0.00% 0.00% -79.19% - -99.26% -30.90% -22.00% - -2.77%
Net Income Growth		 0.00% 0.00% 0.00% -78.53% - -93.56% -22.41% -19.16% - 1.52%
EPS Growth		 0.00% 0.00% 0.00% 70.43% - 93.08% 95.40% 77.34% - 29.58%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% 0.00% - -111.75% -31.38% -46.86% - 10.89%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% -127.90% - -68.32%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 27.39% - 58.59%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% -23.73% -18.13% - 0.00% 18.25% -8.30% - -5.67%
EBIT Q/Q Growth		 0.00% 0.00% -25.12% -17.73% - 0.00% 17.81% -9.73% - -5.70%
NOPAT Q/Q Growth		 0.00% 0.00% -25.12% -17.73% - 0.00% 17.81% -9.73% - -5.70%
Net Income Q/Q Growth		 0.00% 0.00% -28.53% -14.41% - 0.00% 18.71% -11.37% - -6.60%
EPS Q/Q Growth		 0.00% 0.00% -23.00% 77.97% - 0.00% 18.31% -8.62% - -8.70%
Operating Cash Flow Q/Q Growth		 0.00% 3.91% -23.90% -10.50% - -41.41% 23.12% -23.53% - -10.42%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% 27.34% -90.80% - -21.59%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% -5.67% 27.05% - 50.45%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% - 100.00% 100.00% 100.00% - 100.00%
Interest Burden Percent		 92.85% 92.66% 95.19% 92.50% - 90.01% 89.02% 90.35% - 86.25%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% - -31.21% -35.13% -24.43% - -25.73%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% - -31.21% -35.13% -24.43% - -25.73%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% - -31.21% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -7.66 -9.32 -12 -14 -13 -19 -15 -17 -18 -19
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% -3.19% - -4.41% -3.69% -1.46% - -1.30%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -5.06% -5.06% -7.89% -6.96% -4.32% -4.89% -4.36%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Earnings before Interest and Taxes (EBIT)		 -11 -13 -17 -20 -19 -27 -22 -24 -26 -27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -11 -14 -17 -20 -20 -28 -23 -25 -26 -28
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.62 - 1.05 1.74 1.54 - 3.18
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.62 - 1.05 1.74 1.54 - 3.18
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Financial Leverage		 0.00 0.00 0.00 -1.02 - -1.02 -1.03 -1.01 - -1.01
Leverage Ratio		 0.00 0.00 0.00 1.04 - 1.04 1.06 1.04 - 1.04
Compound Leverage Factor		 0.00 0.00 0.00 0.96 - 0.94 0.94 0.94 - 0.90
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 0.00% 0.00% 0.00% 100.00% - 100.00% 100.00% 100.00% - 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Altman Z-Score		 0.00 0.00 0.00 0.00 - 13.95 18.36 28.89 - 56.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 25.75 - 23.31 19.50 32.95 - 30.79
Quick Ratio		 0.00 0.00 0.00 25.37 - 22.97 19.13 32.47 - 30.20
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 0.00 -8.03 0.00 -13 -9.60 -18 -18 -22
Operating Cash Flow to CapEx		 0.00% -3,923.08% -2,935.84% -25,726.32% - -75,593.33% -2,465.91% -5,397.49% - -4,624.26%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 0.00 0.00 -5.70 -4.71 -5.36 -5.67 -4.14 -4.48 -2.22
Invested Capital Turnover		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 -5.70 0.00 -5.36 -5.67 1.56 0.23 3.14
Enterprise Value (EV)		 0.00 0.00 0.00 -108 - 5.80 157 207 - 950
Market Capitalization		 163 163 163 169 - 247 382 598 - 1,390
Book Value per Share		 $0.00 $0.00 $0.00 $41.65 $7.70 $7.04 $6.56 $11.54 $8.22 $9.21
Tangible Book Value per Share		 $0.00 $0.00 $0.00 $41.65 $7.70 $7.04 $6.56 $11.54 $8.22 $9.21
Total Capital		 0.00 0.00 0.00 271 257 235 219 388 369 438
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 0.00 0.00 -277 -262 -241 -225 -392 -374 -440
Capital Expenditures (CapEx)		 0.00 0.27 0.45 0.06 0.09 0.03 0.71 0.40 0.79 0.44
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 -6.81 -5.91 -6.99 -7.47 -6.23 -7.66 -6.01
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 270 256 234 217 385 366 434
Net Working Capital (NWC)		 0.00 0.00 0.00 270 256 234 217 385 366 434
Net Nonoperating Expense (NNE)		 2.50 3.02 4.20 4.41 2.56 5.31 4.15 4.87 4.01 4.43
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 -277 -262 -241 -225 -392 -374 -440
Total Depreciation and Amortization (D&A)		 0.00 -0.46 -0.38 -0.51 -1.34 -1.27 -0.92 -0.68 -0.50 -0.52
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($2.78) $19.84 ($0.71) ($0.58) ($0.63) ($0.46) ($0.50)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 6.52M 10.64M 33.41M 33.45M 34.20M 36.51M 46.58M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($2.78) $19.84 ($0.71) ($0.58) ($0.63) ($0.46) ($0.50)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 6.52M 10.64M 33.41M 33.45M 34.20M 36.51M 46.58M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 33.42M 33.42M 33.42M 33.59M 44.90M 47.51M 47.60M
Normalized Net Operating Profit after Tax (NOPAT)		 -7.66 -9.32 -12 -14 -13 -19 -15 -17 -18 -19
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% - -5.52% -2.91% -0.72% - -1.33%

Financials Breakdown Chart

Key Financial Trends

Here are key trends from MBX Biosciences' quarterly statements (latest four years of data provided), focusing on liquidity, profitability, and capital structure. The bullets are ordered with positives first, then neutral, then negatives.

  • Large financing inflow in Q3 2025: Net Cash From Continuing Financing Activities = $187,824,000, indicating a substantial capital raise or access to financing.
  • Strong near-term liquidity in Q3 2025: Cash & Equivalents at $223,125,000 on the balance sheet, up from prior quarters.
  • Investments partially monetized in Q3 2025: Sale and/or Maturity of Investments = $61,350,000, contributing cash inflow within investing activities.
  • Growing equity base by Q3 2025: Total Common Equity around $387.54M, reflecting a larger equity capital base.
  • No revenue in recent quarters: Total Revenue reported as $0 in Q3 2025 and Q4 2025, indicating MBX is currently pre-revenue.
  • Operating cash burn persists: Net Cash From Continuing Operating Activities is negative in recent quarters (e.g., -$21.54M in Q3 2025), signaling ongoing cash burn from operations.
  • Shareholder dilution headlines: Weighted average shares outstanding rose from around 34.2M (Q3 2025) to about 36.5M (Q4 2025), suggesting dilution risk for existing holders.
  • Persistent quarterly losses: Net Income / Loss remains negative across quarters (Q4 2025: -$22.06M; Q3 2025: -$21.62M; Q2 2025: -$19.41M; Q1 2025: -$23.89M).
  • Burning cash with high operating expenses and no revenue: R&D and SG&A are sizable (Q4 2025: RD $19.76M; SG&A $6.04M; Total Operating Expenses ~$25.80M) despite zero revenue.
  • Significant investing outflows: Large purchases of investments (e.g., Q4 2025: $205.43M) contribute to investing cash outflows even as some asset sales occur.
05/14/26 02:09 AM ETAI Generated. May Contain Errors.

MBX Biosciences Financials - Frequently Asked Questions

According to the most recent income statement we have on file, MBX Biosciences' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

MBX Biosciences' net income appears to be on an upward trend, with a most recent value of -$86.97 million in 2025, rising from -$32.56 million in 2023. The previous period was -$61.92 million in 2024. Find out what analysts predict for MBX Biosciences in the coming months.

MBX Biosciences' total operating income in 2025 was -$98.06 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $98.06 million

Over the last 2 years, MBX Biosciences' total revenue changed from $0.00 in 2023 to $0.00 in 2025, a change of 0.0%.

MBX Biosciences' total liabilities were at $15.92 million at the end of 2025, a 43.5% increase from 2024, and a 271.0% increase since 2023.

In the past 2 years, MBX Biosciences' cash and equivalents has ranged from $30.52 million in 2023 to $75.29 million in 2025, and is currently $75.29 million as of their latest financial filing in 2025.

Over the last 2 years, MBX Biosciences' book value per share changed from -71.13 in 2023 to 8.22 in 2025, a change of -111.6%.


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Financial statements for NASDAQ:MBX last updated on 5/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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