MBX Biosciences slips after $200 mln stock offering

MBX Biosciences

25/09/2025 11:55

** Shares of MBX Biosciences MBX.O down 3.2% before the bell to $19.45 after follow-on offering priced

    ** Carmel, Indiana-based MBX late Weds announced ~11.1 mln shares at $18 for gross proceeds of $199.9 mln

      ** Offering size increased from 10 mln shares and priced at 10.4% discount to stock's last close

      ** On Mon,

    MBX shares doubled to $20 after co said its experimental drug, canvuparatide, met main goal in mid-stage trial for adults with chronic hypoparathyroidism, a hormone disorder that causes low calcium levels

    ** Co intends to use net offering proceeds to fund continued development of canvuparatide along with other product candidates, per the prospectus

    ** JP Morgan, Jefferies, TD Cowen and Guggenheim are joint bookrunners for the offering

    ** Avg rating among 7 analysts
    covering MBX is "strong buy" and median PT is $56, per LSEG data

      ** MBX
      went public last Sept after IPO of 10.2 mln shares priced at $16

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))