MBX at a glance
MBX Biosciences, Inc. (MBX, SEC CIK 1776111) filed its latest 10-K annual report on March 12, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 27, 2026 and Form 4 insider filings as recently as August 5, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- As of June 30, 2026, 25 institutional investment managers tracked by SignalX reported holding MBX Biosciences, Inc. (MBX) shares worth $820.1 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Azoulay Salomon on August 4, 2026 of 370 shares at $65.77 per share.
- In the last 90 days, MBX insiders reported 0 open-market purchases ($0) and 1 open-market sale ($24K) on Form 4, a net sale of $24K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Insiders · 90 days
- 0 buys · 1 sell
- Net −$24K
- 13F holders
- 25 funds
- $820.1M · +2 vs prior quarter
- Latest 8-K
- Aug 27, 2026
- Item 7.01 · Item 8.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Clinical-stage biopharma developing novel precision peptide therapies for endocrine and metabolic disorders via proprietary PEP™ platform
- New emphasis on once-weekly canvuparatide for chronic hypoparathyroidism with positive Phase 2 data; Phase 3 trial to start Q3 2026
- Strategic focus broadened with obesity portfolio including MBX 4291, a potential once-monthly GLP-1/GIP co-agonist advancing through Phase 1 and planned multiple ascending doses study in 2026
- Notable metric: Phase 2 trial of canvuparatide enrolled 64 HP patients with 63% responder rate at 12 weeks vs 31% placebo (p=0.042)
- Unique to 2026 filing: First detailed presentation of canvuparatide’s programmable prodrug and fatty acylation dual technology enabling continuous, infusion-like peptide exposure with low peak-to-trough ratio
Risk Factors
- FDA regulatory risk: potential requirement for additional preclinical or clinical studies increasing costs and delaying approvals
- Geopolitical/macroeconomic risk: $373.7M cash runway into 2029 threatened by economic uncertainty and geopolitical tensions impacting operations
- Operational risk: reliance on third-party manufacturers for clinical and commercial supply with risk of inadequate supply or quality of product candidates
- Competition risk: facing competing technological and market developments that may reduce value of future product candidates
- Financial risk: accumulated deficit $224.5M with ongoing losses ($87.0M in 2025) and need for substantial financing to continue development and commercialization
Management Discussion & Analysis
- Net loss $87.0M in 2025 vs $61.9M in 2024; operating expenses rose $29.9M to $98.1M
- R&D expenses $79.2M (29.7% increase) driven by canvuparatide ($37.2M, up $15.6M) and MBX 4291 ($12.7M, up $1.9M); imapextide decreased $7.4M
- G&A expenses $18.9M up from $10.8M due to higher professional fees and personnel costs
- Cash, cash equivalents and marketable securities $373.7M at 12/31/25 vs $262.1M at 12/31/24; IPO net proceeds $170.5M, September 2025 Offering net proceeds $187.4M, and $87.1M raised via open market sales in early 2026
- Guidance: existing cash expected to fund operations into 2029; Phase 3 trial initiation of canvuparatide in Q3 2026; key risks include need for substantial new funding and clinical/regulatory uncertainties
AI summary of the MBX 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $0 in both quarters; no product sales or approved products
- Net loss $37.1M vs $19.4M YoY; operating loss $40.9M vs $21.8M
- R&D expense $31.0M vs $17.7M; canvuparatide highest program spend at $13.9M
- Cash, equivalents and marketable securities $418.6M vs $373.7M; funding expected into 2029
- Phase 3 canvuparatide trial planned for Q3 2026; MBX 4291 cohort results expected Q4 2026
Risk Factors
- No material changes to risk factors disclosed in the 2025 Annual Report
- Clinical-stage biotechnology exposure to development and commercialization risks remains significant
- Regulatory approval uncertainty remains a core risk for MBX Biosciences’ drug candidates
- Limited operating history and ongoing losses remain relevant to near-term performance
- Common-stock investment risk includes potential trading-price declines and total investment loss
AI summary of the MBX 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- First patient dosed in pivotal Phase 3 oPTimize trial of once-weekly canvuparatide
- Target indication: adults with hypoparathyroidism
Item 8.01: Other Events
- First patient dosed in pivotal Phase 3 oPTimize trial, advancing canvuparatide toward potential registration
- Global randomized trial targeting approximately 160 chronic hypoparathyroidism patients, with 26-week placebo-controlled treatment
Item 7.01: Regulation FD Disclosure
- Updated corporate presentation furnished as Exhibit 99.2
- Investor materials available through MBX Biosciences’ website Investors section
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 financial results announced for quarter ended June 30, 2026
- Press release furnished as Exhibit 99.1, containing the detailed financial results
Item 8.01: Other Events
- MBX 4291 Phase 1 obesity trial remains on track for first Part C data in Q4 2026
- Part C evaluates a 12-week multiple-ascending-dose regimen in adults with BMI ≥30
Item EX-99.1: Item EX-99.1
- Q2 2026 net loss $37.1M versus $19.4M; R&D rose to $31.0M on Phase 3 and obesity-program investment
- $418.6M cash, equivalents and marketable securities; management expects funding into 2029, reducing near-term financing pressure
Item 5.02: Departure/Appointment of Directors or Principal Officers
- CEO Kent Hawryluk departs July 13, 2026 without reported dispute, creating leadership transition risk
- Steven Hoerter becomes CEO from executive chairman role at $665,000 base salary and 60% target bonus
AI summaries of MBX 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for MBX
Don't miss the next MBX filing
- Alerts as it files. A push when MBX files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut MBX, by share count.
- Ask anything. An AI agent that reads every MBX filing and answers with sources.
MBX alerts on your phone. Follow it in the SignalX Android app.
Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Azoulay Salomon | Sell | Aug 4, 2026 | 370 | $65.77 |
| Smither John W | A | Aug 3, 2026 | 28,000 | - |
| Hoerter Steven L. | A | Aug 3, 2026 | 331,000 | - |
| Hoerter Steven L. | A | Aug 3, 2026 | 71,000 | - |
| Smither John W | A | Aug 3, 2026 | 130,000 | - |
| Aynechi Tiba | A | Jun 4, 2026 | 12,500 | - |
| Hoerter Steven L. | A | Jun 4, 2026 | 12,500 | - |
| Ryder Steven | A | Jun 4, 2026 | 12,500 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Operating Income | -$35.3M | -$68.2M | -$98.1M |
| Net Income | - | -$61.9M | -$87.0M |
| Balance Sheet | |||
| Total Assets | $84.2M | $268.5M | $385.1M |
| Equity | -$72.5M | $257.4M | $369.2M |
| ROE | - | -24.1% | -23.6% |
| Per Share | |||
| EPS | $-31.96 | $-5.82 | $-2.38 |
| Cash Flow | |||
| Operating CF | -$32.0M | -$54.7M | -$79.9M |
| CapEx | $129K | $874K | $1.9M |
Source: XBRL data in MBX Biosciences, Inc. (MBX)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate MBX share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 25 | $820.1M |
| Q1 2026 | 23 | $371.2M |
| Q4 2025 | 22 | $290.7M |
| Q3 2025 | 21 | $153.5M |
| Q2 2025 | 18 | $60.8M |
| Q1 2025 | 14 | $14.4M |
| Q4 2024 | 9 | $34.7M |
| Q3 2024 | 4 | $26.3M |
- FMR LLC (Fidelity)+2.39M (+81%)
- BlackRock+382.3K (+13%)
- Bank of America Corp+270.2K (+940%)
- Morgan Stanley+217.0K (+688%)
- Dimensional Fund Advisors+186.9K (+400%)
- Millennium Management−338.3K (-60%)
- T. Rowe Price Group−214.2K (-21%)
- D.E. Shaw & Co−106.1K (-37%)
- JPMorgan Chase & Co−7.4K (-5%)
- AQR Capital Management−4.8K (-18%)
- Franklin Resources+252.7K
- Prudential Financial+88.0K
- Blackstone Group+5.5K
- Citadel Advisors LLC−932.8K
Source: 13F-HR filings on SEC EDGAR (aggregated from 136 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
MBX filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Aug 27, 2026 | - | Analysis | - |
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Aug 5, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| SC 13G | Jul 29, 2026 | - | - | |
| 8-K | Jul 13, 2026 | - | Analysis | - |
| SC 13G | Jun 24, 2026 | - | - | |
| 8-K | Jun 12, 2026 | - | Analysis | - |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 8-K | Jun 5, 2026 | - | Analysis | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | May 11, 2026 | - | - | |
| 8-K | May 11, 2026 | - | Analysis | |
| 4 | May 8, 2026 | - | - | |
| 4 | May 8, 2026 | - | - | |
| 8-K | May 7, 2026 | - | Analysis | |
| 10-Q | May 7, 2026 | Mar 31, 2026 | Analysis | |
| SC 13G | May 6, 2026 | - | - |
Related Health Care companies
- AARD · Aardvark Therapeutics, Inc.Pharmaceutical Preparations
- ABT · Abbott LaboratoriesPharmaceutical Preparations
- ABBV · AbbVie IncPharmaceutical Preparations
- ABEO · ABEONA THERAPEUTICS INC.Pharmaceutical Preparations
- ACAD · ACADIA PHARMACEUTICALS INCPharmaceutical Preparations
- ACRS · Aclaris Therapeutics, Inc.Pharmaceutical Preparations
- ACTU · ACTUATE THERAPEUTICS, INC.Pharmaceutical Preparations
- ADCT · ADC Therapeutics SAPharmaceutical Preparations
MBX SEC filings: frequently asked questions
Are MBX insiders buying or selling?
In the last 90 days, MBX Biosciences, Inc. (MBX) officers, directors and 10% owners reported no open-market purchases and 1 open-market sale worth $24,335 by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold MBX stock?
As of June 30, 2026, the largest MBX Biosciences, Inc. (MBX) holders among the 13F filers tracked by SignalX were FMR LLC (Fidelity) ($293.8 million), BlackRock ($183.5 million), Vanguard Capital Management LLC ($81.6 million), State Street Corp ($47.7 million), T. Rowe Price Group ($45.0 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What are the main risks in MBX's latest 10-K?
In the 10-K filed March 12, 2026, MBX Biosciences, Inc. (MBX) flagged: FDA regulatory risk: potential requirement for additional preclinical or clinical studies increasing costs and delaying approvals. Geopolitical/macroeconomic risk: $373.7M cash runway into 2029 threatened by economic uncertainty and geopolitical tensions impacting operations. (AI summary of the Risk Factors section.)
What did MBX report in its latest 8-K?
MBX Biosciences, Inc. (MBX) filed an 8-K on August 27, 2026 reporting Item 7.01 (Regulation FD Disclosure) and Item 8.01 (Other Events). First patient dosed in pivotal Phase 3 oPTimize trial of once-weekly canvuparatide.
What are the latest MBX SEC filings?
MBX Biosciences, Inc. (MBX) filed its latest 10-K annual report on March 12, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 27, 2026 and a Form 4 insider filing on August 5, 2026.
What is MBX's SEC CIK number?
MBX Biosciences, Inc. (MBX)'s SEC Central Index Key (CIK) is 1776111. EDGAR lists every MBX filing under that number.
Ask anything about MBX
The research agent reads MBX's filings, financials, insider trades and 13F holders, then answers with sources.