MBX Biosciences (MBX) Operating Expenses (2023 - 2026)
MBX Biosciences (MBX) posted Operating Expenses of $27.3 million for Q1 2026, up 5.7% sequentially from $25.8 million in Q4 2025, and up 2.77% YoY from $26.5 million in Q1 2025.
Analysis
MBX Biosciences (MBX) Operating Expenses (2023 - 2026) Analysis & Trends
MBX Biosciences has reported Operating Expenses for 4 years, with the latest figure at $27.3 million in Q1 2026.
- Quarterly Operating Expenses rose 2.77% year-over-year to $27.3 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $78.7 million (up 63.92% YoY) and the FY2025 annual result came in at $98.1 million, up 43.79% from the prior year.
- Operating Expenses advanced to $27.3 million in Q1 2026 per MBX's latest filing, from $25.8 million in the prior quarter.
- Over five years, Operating Expenses peaked at $27.3 million in Q1 2026 and troughed at $1.3 million in Q1 2024.
- A 4-year average of $13.5 million and a median of $10.9 million in 2023 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses tumbled 87.25% in 2024, then soared 1959.7% in 2025.
- Over 4 years, Operating Expenses stood at $10.0 million in 2023, then surged by 86.27% to $18.6 million in 2024, then surged by 38.61% to $25.8 million in 2025, then advanced by 5.7% to $27.3 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $27.3 million, $25.8 million, and $23.9 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 138.51 Bn | 130.66 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 85.24 Bn | 77.25 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 63.46 Bn | 58.28 Bn | 1.37 Bn | -1.05 Bn |
| 4 | Moderna | 57.89 Bn | 52.75 Bn | 52.00 Mn | 960.00 Mn |
| 5 | Revolution Medicines | 44.02 Bn | 44.02 Bn | - | 505.13 Mn |
| 6 | BeOne Medicines | 39.95 Bn | 34.85 Bn | 1.53 Bn | 1.21 Bn |
| 7 | Alnylam Pharmaceuticals | 35.49 Bn | 32.19 Bn | 992.69 Mn | 1.06 Bn |
| 8 | Royalty Pharma | 28.43 Bn | 27.59 Bn | - | 541.02 Mn |
| 9 | Insmed | 27.39 Bn | 26.22 Bn | 358.27 Mn | 427.03 Mn |
| 10 | MBX Biosciences | 2.94 Bn | 2.94 Bn | - | 40.93 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.93 Mn |
| Mar 31, 2026 | 27.27 Mn |
| Dec 31, 2025 | 25.80 Mn |
| Sep 30, 2025 | 23.93 Mn |
| Jun 30, 2025 | 21.81 Mn |
| Mar 31, 2025 | 26.53 Mn |
| Dec 31, 2024 | 18.61 Mn |
| Sep 30, 2024 | 19.61 Mn |
| Jun 30, 2024 | 16.66 Mn |
| Mar 31, 2024 | 13.31 Mn |
| Dec 31, 2023 | 9.99 Mn |
| Sep 30, 2023 | 10.95 Mn |