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MBX Biosciences Announces Launch of Initial Public Offering

CARMEL, Ind., September 9, 2024 (GLOBE NEWSWIRE) – MBX Biosciences, Inc. (“MBX Biosciences”), a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders, today announced the launch of its initial public offering of 8,500,000 shares of its common stock pursuant to a registration statement filed with the Securities and Exchange Commission (“SEC”). MBX Biosciences expects to grant the underwriters in the offering a 30-day option to purchase up to an additional 1,275,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The estimated initial public offering price is between $14.00 and $16.00 per share. MBX Biosciences has applied to list its shares on the Nasdaq Global Select Market under the symbol “MBX”.

MBX Biosciences intends to use the net proceeds from the offering, together with its existing cash and cash equivalents and short-term investments, to fund the continued development of MBX 2109 and MBX 1416, its two clinical stage programs, MBX 4291, its preclinical stage program, its discovery research and development activities and additional clinical development and for general corporate purposes and working capital.

J.P. Morgan, Jefferies, Stifel and Guggenheim Securities are acting as joint book-running managers for the offering.

A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

The proposed offering is being made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected] and [email protected]; Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at [email protected]; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by email at [email protected]; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, telephone: (212) 518-9544, email: [email protected].

The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

About MBX Biosciences 

MBX Biosciences is a biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. MBX Biosciences was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, MBX Biosciences designed its proprietary Precision Endocrine Peptide™, or PEP™, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients. PEPs 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. MBX Biosciences is advancing a pipeline of novel candidates for endocrine and metabolic disorders with clinically validated targets, established endpoints for regulatory approval, significant unmet medical needs and large potential market opportunities. MBX Biosciences’ pipeline includes its lead product candidate MBX 2109, in Phase 2 development for the treatment of chronic hypoparathyroidism; MBX 1416, in Phase 1 development for the treatment of post-bariatric hypoglycemia; and an obesity portfolio that includes MBX 4291, as well as multiple discovery and pre-clinical candidates in development for the treatment of obesity. MBX Biosciences is based in Carmel, Indiana.

Forward-Looking Statements

This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding MBX Biosciences’ expectations and statements regarding the commencement of trading of its shares on the Nasdaq Global Select Market, the completion and timing of the pricing and closing of the offering, the intended use of proceeds from the offering; and the size and expected price range of the offering. Forward-looking statements are based on MBX Biosciences’ current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the risks inherent in biopharmaceutical product development. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” section of the registration statement filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and MBX Biosciences undertakes no duty to update such information except as required under applicable law. Readers should not rely upon the information on this page as current or accurate after its publication date.

Media Contact:
Kate Burdick
Inizio Evoke Comms
[email protected]
860-462-1569

Investor Contact:
Irina Koffler
LifeSci Advisors
[email protected]
917-734-7387