MBX Biosciences, a Phase 2 biotech developing precision peptides for endocrine and metabolic diseases, raised $163 million by offering 10.2 million shares at $16, the high end of the range of $14 to $16. The company upsized its offering by 1.7 million shares, raising 28% more in proceeds than expected.
MBX Biosciences is developing peptides that are selectively engineered to have optimized pharmaceutical properties, including extended time-action profiles and consistent drug concentrations with low peak-to-trough concentration ratios, consistent exposure to target tissues, and less frequent dosing. Its lead candidate, MBX 2109, is a parathyroid hormone peptide that is designed as a potential long-acting hormone replacement therapy for chronic hypoparathyroidism. The company initiated its Phase 2 trial in 2024, and expects to report topline results in the third quarter of 2025.
The Carmel, IN-based company plans to list on the Nasdaq under the symbol MBX. J.P. Morgan, Jefferies, Stifel, and Guggenheim Securities acted as joint bookrunners on the deal.
