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Investing.com -- MBX Biosciences Inc (NASDAQ:MBX) stock dropped 7% in premarket trading Thursday after the clinical-stage biopharmaceutical company announced the pricing of its upsized public offering.
The company, which focuses on developing precision peptide therapies for endocrine and metabolic disorders, priced 11,108,055 shares of its common stock at $18.00 per share. The offering is expected to generate approximately $199.9 million in gross proceeds before deducting underwriting discounts, commissions, and other expenses.
MBX Biosciences has also granted the underwriters a 30-day option to purchase up to an additional 1,666,208 shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on September 26, 2025, subject to customary closing conditions.
The share sale is being managed by several financial institutions, with J.P. Morgan, Jefferies, TD Cowen, and Guggenheim Securities acting as joint book-running managers. Citizens Capital Markets and Oppenheimer & Co. are serving as co-lead managers for the offering.
Public offerings typically lead to stock price declines as they increase the total number of outstanding shares, potentially diluting existing shareholders’ ownership stakes. The 7% drop in MBX’s stock price reflects investor reaction to this potential dilution despite the company’s successful capital raise.
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