MBX Biosciences will report one-year follow-up data from its Phase 2 Avail™ trial of once-weekly canvuparatide for chronic hypoparathyroidism in Q2 2026, following confirmation of high responder rates and favorable tolerability in the 12-week readout. The company has scheduled an FDA End-of-Phase 2 meeting in Q1 2026 and remains on track to initiate its pivotal Phase 3 trial in Q3 2026, positioning canvuparatide as a potential best-in-class therapy and new standard of care for patients with hypoparathyroidism.

MBX 4291, a dual GLP-1/GIP co-agonist prodrug engineered for once-monthly administration and improved tolerability in obesity, is progressing through Phase 1, with 12-week multiple ascending dose data expected in Q4 2026. The company also plans to nominate two additional long-acting obesity candidates in 2026: an amycretin prodrug in Q2 and a GLP-1/GIP/glucagon receptor triple agonist in Q3, each designed for monthly dosing to address unmet needs across the obesity treatment spectrum.

As of December 31, 2025, MBX Biosciences held approximately $373.7 million in preliminary unaudited cash, cash equivalents and marketable securities. This robust balance sheet is expected to fund operations through 2029, undergirding planned clinical and regulatory activities across multiple programs, including the pivotal Phase 3 of canvuparatide, Phase 1 completion for MBX 4291, and ongoing Phase 2a evaluation of imapextide for post-bariatric hypoglycemia.