MBX Biosciences Inc (NASDAQ:MBX) saw its stock decline 7% in premarket trading Thursday after the clinical-stage biotech firm announced the pricing of its expanded public offering.
The company, which develops precision peptide therapies for endocrine and metabolic disorders, set the price for 11,108,055 shares of its common stock at $18.00 per share, with gross proceeds expected to reach approximately $199.9 million before underwriting fees, commissions, and other costs.
MBX Biosciences also provided the underwriters a 30-day option to purchase up to an additional 1,666,208 shares at the offering price, minus underwriting discounts and commissions. The transaction is expected to close on September 26, 2025, pending customary closing conditions.
The offering is being led by J.P. Morgan, Jefferies, TD Cowen, and Guggenheim Securities as joint book-running managers, while Citizens Capital Markets and Oppenheimer & Co. are co-lead managers.
Public offerings often lead to temporary stock declines as they increase the number of shares outstanding, potentially diluting existing shareholders’ stakes. The 7% drop in MBX shares reflects investor concerns over this dilution despite the company’s successful capital raise.
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