Revenue: As of FY2026 Q2, the actual value is USD 0.

EPS: As of FY2026 Q2, the actual value is USD -0.78, missing the estimate of USD -0.6218.

EBIT: As of FY2026 Q2, the actual value is USD -37.1 M.

MBX Biosciences, Inc. did not detail specific financial metrics such as segment revenue, gross margin, operating profit, operating margin, operating costs, operating cash flow, or free cash flow within the provided reference text for the quarter ended June 30, 2026.

Second Quarter 2026 Financial Results

• Research and Development Expenses: Research and development expenses for the three months ended June 30, 2026, were $31.0 million, an increase of $13.3 million from $17.7 million for the same period in 2025. This increase was primarily due to start-up costs for the canvuparatide Phase 3 clinical trial, ongoing conduct of the canvuparatide Phase 2 open-label extension trial, ongoing conduct of the MBX 4291 Phase 1 clinical trial, and preclinical activities for MBX 5765.
• General and Administrative Expenses: General and administrative expenses for the three months ended June 30, 2026, were $9.9 million, up from $4.1 million for the same period in 2025, driven by higher personnel-related costs and expansion of the executive leadership team.
• Total Operating Expenses: Total operating expenses for the three months ended June 30, 2026, were $40.9 million, compared to $21.8 million for the same period in 2025.
• Loss from Operations: Loss from operations for the three months ended June 30, 2026, was - $40.9 million, compared to - $21.8 million for the same period in 2025.
• Interest and Other Income, Net: Interest and other income, net, for the three months ended June 30, 2026, was $3.8 million, up from $2.4 million for the same period in 2025.
• Net Loss: Net loss for the three months ended June 30, 2026, was - $37.1 million, compared to a net loss of - $19.4 million for the same period in 2025.

Six Months Ended June 30, 2026 Financial Results

• Research and Development Expenses: Research and development expenses for the six months ended June 30, 2026, were $49.5 million, compared to $40.1 million for the same period in 2025.
• General and Administrative Expenses: General and administrative expenses for the six months ended June 30, 2026, were $18.7 million, compared to $8.2 million for the same period in 2025.
• Total Operating Expenses: Total operating expenses for the six months ended June 30, 2026, were $68.2 million, compared to $48.3 million for the same period in 2025.
• Loss from Operations: Loss from operations for the six months ended June 30, 2026, was - $68.2 million, compared to - $48.3 million for the same period in 2025.
• Interest and Other Income, Net: Interest and other income, net, for the six months ended June 30, 2026, was $7.6 million, compared to $5.0 million for the same period in 2025.
• Net Loss: Net loss for the six months ended June 30, 2026, was - $60.6 million, compared to a net loss of - $43.3 million for the same period in 2025.

Balance Sheet Data (as of June 30, 2026)

• Cash, Cash Equivalents and Marketable Securities: MBX Biosciences, Inc. had $418.6 million in cash, cash equivalents, and marketable securities as of June 30, 2026, an increase from $373.7 million as of December 31, 2025.
• Working Capital: Working capital was $404.2 million as of June 30, 2026, compared to $366.0 million as of December 31, 2025.
• Total Assets: Total assets were $435.9 million as of June 30, 2026, compared to $385.1 million as of December 31, 2025.
• Total Liabilities: Total liabilities were $26.4 million as of June 30, 2026, compared to $15.9 million as of December 31, 2025.
• Accumulated Deficit: The accumulated deficit was - $285.1 million as of June 30, 2026, compared to - $224.5 million as of December 31, 2025.
• Total Stockholders’ Equity: Total stockholders’ equity was $409.5 million as of June 30, 2026, compared to $369.2 million as of December 31, 2025.

Operational Metrics

MBX Biosciences, Inc. is evaluating a 30 mg (once-weekly times four) plus 120 mg (once-monthly) plus 180 mg (once-monthly) titration regimen in adult participants with obesity (body mass index ≥30) for the first cohort in Part C of its MBX 4291 phase 1 clinical trial.

Outlook / Guidance

MBX Biosciences, Inc. remains on track to report data from the first cohort of the 12-week multiple ascending dose (Part C) of its MBX 4291 phase 1 clinical trial in the fourth quarter of 2026. The company expects its cash, cash equivalents, and marketable securities of $418.6 million to fund operations into 2029. Additionally, MBX Biosciences, Inc. anticipates initiating a Phase 3 pivotal trial for canvuparatide in Q3 2026 and presenting preclinical data for MBX 6180 in Q4 2026.