MBX Biosciences (MBX) Operating Expenses (2023 - 2026)
MBX Biosciences' Operating Expenses was $40.93 million in Q2 2026, up 87.7% from $21.81 million a year earlier and up 50.1% from the prior quarter.
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Analysis
MBX Biosciences (MBX) Operating Expenses (2023 - 2026) Analysis & Trends
On a trailing twelve-month basis, MBX Biosciences' Operating Expenses was $117.92 million through Jun 30, 2026, up 36.2% year-over-year; for FY2025, it was $98.06 million, up 43.8% from FY2024.
- In earlier years, Operating Expenses was $68.19 million in FY2024 (+93.1%) and $35.31 million in FY2023.
- The Q2 2026 figure marks the highest quarterly Operating Expenses in data going back to Q3 2023.
- Compared with a year earlier, Operating Expenses has increased for eight straight quarters, with growth averaging 55.8% over the last eight quarters.
- Across the past five years, year-over-year growth in Operating Expenses ran from 2.8% in Q1 2026 to 99.3% in Q1 2025.
- Per Business Quant data, MBX's Operating Expenses in the three quarters before Q2 2026 was $27.27 million (Q1 2026), $25.8 million (Q4 2025) and $23.93 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 653.54 Bn | 572.07 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 467.01 Bn | 440.17 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 367.16 Bn | 321.59 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 277.56 Bn | 233.43 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 258.23 Bn | 231.79 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 224.14 Bn | 179.54 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 187.30 Bn | 161.42 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 163.47 Bn | 110.41 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 133.31 Bn | 105.31 Bn | 2.84 Bn | 2.09 Bn |
| 10 | MBX Biosciences | 2.57 Bn | 2.57 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 |
API Access
MBX Biosciences Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=MBX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "MBX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=MBX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();