MBX Biosciences, Inc. 8-K

What Happened
MBX Biosciences, Inc. filed an 8-K reporting that on February 4, 2026 it closed the sale and issuance of 2,250,986 shares of common stock at a volume‑weighted average price of $38.76 per share, generating gross proceeds of approximately $87.1 million. The shares were sold under the company’s Open Market Sale Agreement with Jefferies, LLC (dated November 6, 2025) and a shelf registration statement on Form S-3 (File No. 333-291308) declared effective by the SEC on December 8, 2025. The company stated it intends to use net proceeds for clinical program development, discovery R&D, additional clinical development, general corporate purposes, working capital and capital expenditures, and may use some proceeds or existing cash to in-license or acquire complementary assets.

Key Details

• Shares sold: 2,250,986 common shares on February 4, 2026.
• Price: Volume-weighted average price of $38.76 per share; gross proceeds ≈ $87.1 million.
• Offering vehicle: Open Market Sale Agreement with Jefferies, LLC and Form S-3 registration (declared effective Dec 8, 2025).
• Remaining capacity: Company may offer and sell additional shares having an aggregate offering price up to $62.9 million through Jefferies.

Why It Matters
This ATM sale provides MBX with a significant cash infusion to fund its clinical and discovery programs and general operations, reducing near‑term financing pressure. For investors, the transaction is dilutive because it increases the share count — and the company may sell up to an additional $62.9 million of stock under the same program. The filing also includes customary forward‑looking statement cautions about the company’s intended use of proceeds and related risks.