MBX Biosciences (MBX) 44th Annual J.P. Morgan Healthcare Conference summary

Key program updates and milestones

• Initiation of confirmatory phase III trial for canvuparatide in Q3, following strong phase II data validating the PEP platform, with one-year follow-up data in Q2 2026.

• Tripling of the obesity portfolio in 2024 with new amycretin and triple agonist candidates, and phase I MAD 12-week data expected in Q4 2026.

• Phase II-A proof of concept data for imapextide in post-bariatric hypoglycemia expected in Q2 2026.

• Pre-commercial activities underway, including recruitment of a chief commercial officer and global rights with patent protection through 2041 and beyond.

• Financial position strengthened by a $200M public offering, ending year with $375M in cash and a robust cash position of $373.7 million extending operational runway into 2029.

Technology and clinical differentiation

• Precision Endocrine Peptide (PEP) platform uses programmable prodrug and fatty acylation for slow, steady drug release and less frequent dosing.

• Prodrug technology allows tuning of release times for different molecules, optimizing tolerability and exposure.

• Active peptides are engineered for potency, stability, and multiple mechanisms of action.

• Canvuparatide offers an infusion-like PK profile, differentiating it from daily therapies and supporting once-weekly dosing.

• MBX 4291, a dual GLP-1/GIP agonist, is engineered for gradual release and long exposure.

Clinical data and market insights

• Canvuparatide phase II showed a 63% responder rate at 12 weeks, rising to 79% at six months, with high retention and no treatment-related SAEs.

• 100% of surveyed patients and 80% of HCPs prefer once-weekly over daily dosing, supporting rapid adoption.

• Market research indicates strong physician and patient enthusiasm for weekly administration and switching from daily therapies.

• Obesity candidates aim for once-monthly dosing with improved tolerability, addressing GI side effects seen in current therapies.

• Imapextide targets post-bariatric hypoglycemia, a sizable and underserved population, with once-weekly dosing.