CARMEL, Ind., Sept.09, 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 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.
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.
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