MBX Biosciences, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
MBX$56.33+4.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
(Unaudited - in thousands)
| Nine months endedSeptember 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(64,909) | $(46,336) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 6,021 | 3,734 |
| Non cash operating lease expense | 101 | 79 |
| Accretion and amortization of marketable securities, net | (3,056) | (1,531) |
| Depreciation expense | 188 | 186 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (692) | (1,319) |
| Accounts payable | (1,595) | 3,282 |
| Accrued expenses | 2,343 | 3,374 |
| Operating lease right-of-use asset | (501) | — |
| Operating lease liability | 452 | (113) |
| Net cash used in operating activities | (61,648) | (38,644) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (1,136) | (782) |
| Purchases of marketable securities | (152,718) | (151,968) |
| Maturities of marketable securities | 191,622 | 59,500 |
| Call redemptions of marketable securities | 8,500 | — |
| Net cash provided by (used in) investing activities | 46,268 | (93,250) |
| Cash flows from financing activities: | ||
| Proceeds from public offering, net of underwriting discounts and commissions | 187,948 | — |
| Proceeds from initial public offering, net of underwriting discounts and commissions | — | 174,542 |
| Proceeds from exercise of stock options | 1,460 | 208 |
| Payments related to offering costs | (254) | (3,735) |
| Proceeds from the issuance of Series C Convertible Preferred Stock | — | 63,500 |
| Preferred stock issuance costs | — | (279) |
| Net cash provided by financing activities | 189,154 | 234,236 |
| Net increase in cash and cash equivalents | 173,774 | 102,342 |
| Cash and cash equivalents, beginning of period | 49,351 | 30,523 |
| Cash and cash equivalents, end of period | $223,125 | $132,865 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Vesting of early exercised stock options | $34 | $206 |
| Property and equipment in accounts payable and accrued liabilities | 5 | 16 |
| Conversion of convertible preferred stock to common stock upon initial public offering | — | 215,578 |
| Deferred public offering costs included in accounts payable and accrued expenses | 304 | 329 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.