Core Insights - MBX Biosciences is making significant progress in its clinical programs, with topline results for the Phase 2 Avail trial of canvuparatide expected in Q3 2025 and an IND submission for MBX 4291 anticipated in Q2 2025 [2][3][4] Financial Highlights - As of March 31, 2025, MBX Biosciences reported cash, cash equivalents, and marketable securities totaling $240.8 million, which is expected to support operations into mid-2027 [7][16] - Research and development expenses for Q1 2025 were $22.4 million, a significant increase from $11.0 million in Q1 2024, driven by ongoing studies for MBX 4291 and the Phase 2 Avail trial [12][16] - General and administrative expenses rose to $4.1 million in Q1 2025 from $2.3 million in Q1 2024, reflecting increased personnel-related costs [12][16] - The net loss for Q1 2025 was $23.9 million, compared to a net loss of $12.3 million for the same period in 2024 [12][16] Clinical Development Updates - The Phase 2 Avail trial for canvuparatide has completed enrollment with 64 participants, exceeding the original target, and results are expected in Q3 2025 [3][4] - MBX 4291, a GLP-1/GIP co-agonist prodrug, is being developed as a once-monthly treatment for obesity, with an IND application submission on track for Q2 2025 [4][8] - A Phase 2 trial for MBX 1416, targeting post-bariatric hypoglycemia, is expected to begin in the second half of 2025 following successful Phase 1 results [5][8] Corporate Developments - Steve Hoerter has been appointed as an independent director to the board, bringing extensive pharmaceutical leadership and commercialization experience [6][8]

Company Overview - MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for endocrine and metabolic disorders [3] - The company is based in Carmel, Indiana and utilizes its proprietary PEP™ platform to advance its pipeline of candidates [3] Pipeline Development - The pipeline includes canvuparatide (MBX 2109) for chronic hypoparathyroidism in Phase 2 development [3] - MBX 1416 is in Phase 1 development for post-bariatric hypoglycemia [3] - An obesity portfolio includes MBX 4291, with an IND submission anticipated in Q2 2025, along with multiple discovery and pre-clinical obesity candidates [3] Upcoming Events - Kent Hawryluk, President and CEO, will present at the Citizens Life Sciences Conference on May 7, 2025, and the RBC 2025 Global Healthcare Conference on May 21, 2025 [1][2] - Both events will feature a fireside chat format and 1x1 meetings, with webcasts available for live viewing and replays [2]