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MBX.TO — Toronto Stock Exchange Biotechnology & Medical Research

Mbx.To

C$0,29
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CAD
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Last 30 days
1D5D1M3M6MYTD1Y5YMax
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Mcap
40,7M CAD
P/E
—
EV / Rev
—
Div yield
—
Op margin
-12,4 %
ROE
-8,1 %
Net margin
-12,1 %
Debt / equity
0,24
Beta
—
52w range
—
Volume
—
Day range
—
Prev close
—
Open
—
Next earnings
2026-10-28
Ex-dividend
—
TR 1Y
—
About

MBX.TO provides healthcare diagnostics services, primarily generating revenue through the development and sale of diagnostic products and solutions.

Business. MBX Biosciences Inc (MBX.O) is a biotechnology and medical research company operating within the healthcare diagnostics industry. The firm is headquartered in the United States and is primarily listed on the NASDAQ stock exchange. Specific details regarding operating segments and geographic revenue mix are not available.

Classification92 %
SectorHealthcare
Business sectorPharmaceuticals & Medical Research
IndustryBiotechnology & Medical Research
ActivityHealthcare Diagnostics
Generated · model-assisted
Sell-side consensus
BUY1 analysts
1 buy0 hold0 sell
Avg 12m price target0,50

Analyst recommendations

1 analysts · consensus Buy
Buy1
Hold0
Sell0
12-month price target
0,50
Consensus of sell-side coverage.
Upcoming events
  • EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
See all catalysts →

At a glance

Score
—
not yet scored
Valuation
—
valuation pending
Analysts→
Buy
1 analysts · indicative
Ownership
—
not yet wired
Profitability→
-8,1 %
return on equity
Quality
—
not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning MBX.

    • Sector rotation

    Sector1D1Mvs mkt
    Materials+2,3 %+6,6 %+1,7 %
    Communication Services+2,2 %−5,5 %+1,6 %
    Energy+0,6 %+3,3 %+0,0 %
    Health Care · THIS SECTOR+0,6 %−0,8 %+0,0 %
    Information Technology+0,6 %+6,7 %+0,0 %
    Consumer Discretionary+0,4 %+7,6 %−0,2 %
    Financials−0,3 %−2,8 %−0,9 %
    Consumer Staples−0,4 %+2,5 %−1,0 %
    Real Estate−0,7 %+10,9 %−1,3 %
    Industrials−1,9 %−3,1 %−2,5 %
    Utilities−1,9 %+28,2 %−2,5 %

    Developing storylines

    No tracked sagas currently linked to MBX.TO. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Company
    • EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
    • Macro
    • Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
    • Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
    • Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Synthesis

    Business

    MBX Biosciences Inc (MBX.O) is a biotechnology and medical research company operating within the healthcare diagnostics industry. The firm is headquartered in the United States and is primarily listed on the NASDAQ stock exchange. Specific details regarding operating segments and geographic revenue mix are not available.

    Classification92 %
    SectorHealthcare
    Business sectorPharmaceuticals & Medical Research
    IndustryBiotechnology & Medical Research
    ActivityHealthcare Diagnostics
    AI synthesis
    GENERATED

    MBX.TO has a market capitalization of CAD 38.65 million and a price-to-book ratio of 1.39, indicating that the market values the company at a premium to its book value. The company's liquidity position is characterized by a current ratio of 8.48, suggesting strong short-term liquidity, but it has a negative net cash position after subtracting total debt.

    The company's profitability is weak, with a return on equity of -8.08% and a return on assets of -6.00%, both significantly below the industry norms for a biotechnology and medical research firm. The operating loss of CAD 2.30 million and a net loss of CAD 2.25 million further underscore the company's current unprofitability.

    Geographically and segment-wise, the company's exposure is not explicitly detailed in the available data. However, the lack of segment-specific revenue breakdowns suggests that MBX.TO may be concentrated in a single business line or geographic region, which could pose a concentration risk.

    Looking ahead, the company is expected to face continued financial challenges. The operating cash flow is negative at CAD -80,290, and the free cash flow is also negative at CAD -1.26 million. The capital expenditure of CAD -797,300 indicates ongoing investment, but without a corresponding increase in revenue, this may not be sustainable.

    The risk assessment for MBX.TO highlights a medium liquidity risk and a low dilution risk. The company's negative net cash position after subtracting total debt is a key flag, indicating potential liquidity constraints. The dilution risk is low, but the company's financial performance and cash flow issues could necessitate future equity raises, which would increase dilution risk.

    Recent analyst estimates suggest a mean price target of CAD 0.50, with a median and high price target also at CAD 0.50. The mean recommendation is 2.00, indicating a "Buy" rating, but there are no strong-buy recommendations. This suggests that while analysts see some upside potential, the consensus is not strongly bullish.

    Key takeaways
    • MBX.TO is valued at a premium to book value, but its financial performance is weak with negative returns on equity and assets.
    • The company's liquidity position is strong in the short term, but its negative net cash position after debt is a concern.
    • Analysts have a generally positive outlook, with a mean price target of CAD 0.50, but the lack of strong-buy ratings indicates caution.
    • The company's financial challenges, including negative operating and free cash flows, suggest ongoing investment without clear revenue growth.
    • The risk assessment highlights medium liquidity risk and low dilution risk, but the company's financial performance could change these dynamics.

    Bull / Bear case

    Generated · model-assisted
    — missing data

    In focus — financials by report

    Valuation

    Market price
    C$0,29
    Market cap
    C$38.6M
    Enterprise valueⓘ
    C$45.4M
    P/Eⓘ
    —
    Non-GAAP P/Eⓘ
    —
    EV / Revenueⓘ
    —
    EV / Op incomeⓘ
    —
    EV / OCFⓘ
    —
    P / Bⓘ
    1.4x
    P / Tangible bookⓘ
    1.4x
    Tangible book
    C$27.8M
    Net cashⓘ
    -C$6.8M
    Current ratioⓘ
    8.5
    Debt / equityⓘ
    0.2
    ROAⓘ
    -6.0%
    ROEⓘ
    -8.1%
    Cash conversionⓘ
    4.0%
    CapEx / revenueⓘ
    -4.3%
    SBC / revenueⓘ
    —
    Dilution ratioⓘ
    0.0%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    — missing data

    Supply chain

    — missing data

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Predictor forecast

    Next quarternear-term
    Earnings · next quarterconf 45 %
    EPS
    Consensus EPS
    -2,93
    Predicted surprise
    +0,00
    Beat probability
    45 %
    Analysts
    11
    Other metrics
    Revenue
    —
    no estimate
    Segment revenue
    —
    no estimate
    Margin
    —
    no estimate
    Segment margin
    —
    no estimate
    as of 2026-05-22 · Earnings Surprise V1
    Period note: consensus is not fiscal-period-aligned at source — read as consensus vs the last reported actual, not a calibrated same-quarter surprise.
    Full fiscal year~1 year ahead
    Full fiscal year · our forecast vs guidance vs consensus
    MetricOur forecastGuidanceConsensus
    EPS—no estimate—no estimate—no estimate
    Revenue—no estimate—no estimate19,6M CAD
    Operating income—no estimate—no estimate—no estimate
    Full-year consensus mean (period as reported by source) · consensus in CAD. Company-level full-year forecast and management guidance are not yet modelled at scale — shown as "no estimate", never inferred.
    Probabilistic model output — not investment advice. · generated 2026-08-04

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Consensus distribution

    sell-side coverage
    Recommendation distribution1 analysts
    Strong buy0
    Buy1
    Hold0
    Sell0
    Strong sell0
    12-month price targetC$0,50 · Median C$0,50
    Low C$0,50High C$0,50
    Revenue surprise
    −5,2 %
    reported vs consensus · miss

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    LowC$0,50
    MeanC$0,50
    MedianC$0,50
    HighC$0,50
    SpotC$0,29
    +69.5 %implied to mean12-month sell-side price targets · ▲ spot

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskLow
    Liquidity riskMedium
    Filing-based flags
    • Net cash is negative after subtracting total debt.

    Benchmarks vs cohort

    Op Margin-12,4 %Above median
    Net Margin-12,1 %Above median
    ROE-8,1 %Above median
    Capex / Rev-4,3 %Above median
    D/E0,24Bottom quartile
    Cash Conv0,04Bottom quartile

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    Derivative transactions

    Net acquired 464 625 sh4 exercises · 14 grants10 insiders
    • Heron Patrick JDirector, 10% owner · Stock option (right to buy) → Common StockAcquired 12 500 @ $30,91grant · 2026-06-04
    • Hoerter Steven L.Director · Stock option (right to buy) → Common StockAcquired 12 500 @ $30,91grant · 2026-06-04
    • Ryder StevenDirector · Stock option (right to buy) → Common StockAcquired 12 500 @ $30,91grant · 2026-06-04
    • Mathers Edward TDirector · Stock option (right to buy) → Common StockAcquired 12 500 @ $30,91grant · 2026-06-04
    • Pescovitz Ora H.Director · Stock option (right to buy) → Common StockAcquired 12 500 @ $30,91grant · 2026-06-04
    • Stelzer LaurieDirector · Stock option (right to buy) → Common StockAcquired 12 500 @ $30,91grant · 2026-06-04
    • Aynechi TibaDirector · Stock option (right to buy) → Common StockAcquired 12 500 @ $30,91grant · 2026-06-04
    • Azoulay SalomonChief Medical Officer · Stock option (right to buy) → Common StockAcquired 15 003 @ $16,00exercise · 2026-05-08
    • Azoulay SalomonChief Medical Officer · Stock option (right to buy) → Common StockAcquired 55 000 @ $10,46exercise · 2026-05-08
    • Hoerter Steven L.Director · Stock option (right to buy) → Common StockAcquired 74 249 @ $29,78grant · 2026-05-01
    • Hawryluk P. KentDirector, President & CEO · Stock option (right to buy) → Common StockDisposed 28 768 @ $16,00exercise · 2026-02-26
    • Bartram RichardChief Financial Officer · Stock option (right to buy) → Common StockAcquired 70 000 @ $39,07grant · 2026-02-02
    • Azoulay SalomonChief Medical Officer · Stock option (right to buy) → Common StockAcquired 70 000 @ $39,07grant · 2026-02-02
    • Hawryluk P. KentDirector, President & CEO · Stock option (right to buy) → Common StockAcquired 164 500 @ $39,07grant · 2026-02-02
    • Stelzer LaurieDirector · Stock option (right to buy) → Common StockAcquired 32 000 @ $43,14grant · 2026-01-20
    • Hoerter Steven L.Director · Stock option (right to buy) → Common StockAcquired 8 000 @ $27,08grant · 2025-11-22
    • Hoerter Steven L.Director · Stock option (right to buy) → Common StockAcquired 100 000 @ $24,74grant · 2025-11-06
    • Hawryluk P. KentDirector, President & CEO · Stock option (right to buy) → Common StockDisposed 182 859 @ $3,25exercise · 2025-10-24

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Market data cache
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    How metrics are computed
    • Return On Equity
      net_income / total_equity
    • Price To Book
      market_price / (adjusted_book_value / shares_outstanding_diluted)
    • Dilution Ratio
      (shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
    • Market Price
      input from market-data provider (delayed close or quote-shim mid)
    • Market Cap
      market_price * shares_outstanding_diluted
    • Ev To Revenue
      enterprise_value / revenue
    Source documents
    • MBX.TO Market data — financials · 2026-05-28
    • Microbix Biosystems Inc Market data — analyst estimates · 2026-05-28

    Ownership & reference

    Leadership

    • Cameron L. GroomePresident, Chief Executive Officer, Director

    Insider activity

    Net buying4 buys · 4 sellsnet $10,4M5 insiders · last 365d
    • Azoulay SalomonChief Medical Officer · Common StockOther 55 000 @ $10,46$575K · 2026-05-08
    • Azoulay SalomonChief Medical Officer · Common StockSold 55 000 @ $38,38$2,1M · 2026-05-08
    • Azoulay SalomonChief Medical Officer · Common StockOther 15 003 @ $16,00$240K · 2026-05-08
    • Azoulay SalomonChief Medical Officer · Common StockSold 15 003 @ $38,30$575K · 2026-05-08
    • Azoulay SalomonChief Medical Officer · Common StockSold 231 @ $29,54$7K · 2026-05-06
    • Hawryluk P. KentDirector, President & CEO · Common StockSold 607 @ $29,54$18K · 2026-05-06
    • Hoerter Steven L.Director · Common StockOther 11 938 · 2026-05-01
    • Hawryluk P. KentDirector, President & CEO · Common StockBought 18 500 @ $28,41$526K · 2026-03-13
    • Hawryluk P. KentDirector, President & CEO · Common StockOther 28 768 @ $16,00$460K · 2026-02-26
    • Azoulay SalomonChief Medical Officer · Common StockOther 15 000 · 2026-02-02
    • Bartram RichardChief Financial Officer · Common StockOther 15 000 · 2026-02-02
    • Hawryluk P. KentDirector, President & CEO · Common StockOther 35 250 · 2026-02-02
    • Hawryluk P. KentDirector, President & CEO · Common StockOther 182 859 @ $3,25$594K · 2025-10-24
    • Hawryluk P. KentDirector, President & CEO · Common StockBought 20 000 @ $13,64$273K · 2025-10-20
    • Hoerter Steven L.Director · Common StockBought 20 000 @ $13,25$265K · 2025-10-17
    • Heron Patrick JDirector, 10% owner · Common StockBought 666 666 @ $18,00$12,0M · 2025-09-26

    Short positioning

    5.8Mshares short-2.0% vs prior
    6.21days to cover
    54.2%short of daily vol
    976fails-to-deliver
    as of 2026-07-15 · short-interest report (free)

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    MBX.TOCanonical
    Toronto Stock Exchange · CAD

    Intel & risk

    PredictorBeat prob45 %Surprise+0,00Full forecast →
    peak dispatch · —
    OSINT findings
    Dilution riskLow
    Liquidity riskMedium
    Net cash is negative after subtracting total debt.

    Evidence & claims

    From filings & derived data
    • EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): 59.1%Derived (calculated)
    • Return on equity (FY 2025-12-31): -23.6%Derived (calculated)
    • Return on assets (FY 2025-12-31): -22.6%Derived (calculated)
    • Current ratio (FY 2025-12-31): 24.62xDerived (calculated)
    • Debt-to-equity (FY 2025-12-31): 0.04xDerived (calculated)
    • Capex (YoY) (2025-12-31 vs 2024-12-31): 120.7%Derived (calculated)
    • Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): 52.6%Derived (calculated)
    • EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): 59.1%Derived (calculated)
    • Net income (YoY) (2025-12-31 vs 2024-12-31): -40.5%Derived (calculated)
    • Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): -46.2%Derived (calculated)
    • Operating income (YoY) (2025-12-31 vs 2024-12-31): -43.8%Derived (calculated)
    • R&D expense (YoY) (2025-12-31 vs 2024-12-31): 37.9%Derived (calculated)
    • Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 43.4%Derived (calculated)
    • Total assets (YoY) (2025-12-31 vs 2024-12-31): 43.4%Derived (calculated)
    • Total liabilities (YoY) (2025-12-31 vs 2024-12-31): 43.5%Derived (calculated)
    • R&D expense (annual): USD 79.16MSEC XBRL filing
    • Total assets (annual): USD 385.14MSEC XBRL filing
    • Shares outstanding (annual): 44.93MSEC XBRL filing
    • Current liabilities (annual): USD 15.49MSEC XBRL filing
    • Operating cash flow (annual): USD -79.95MSEC XBRL filing
    • Capex (annual): USD 1.93MSEC XBRL filing
    • Operating income (annual): USD -98.06MSEC XBRL filing
    • Cash & equivalents (annual): USD 75.29MSEC XBRL filing
    • Net income (annual): USD -87MSEC XBRL filing
    Showing 24 of 60 surfaced claims.
    Atomic claims from regulatory filings and derived calculations. Provenance shown as source kind only.

    The Thread

    Everything we know, in order
    2026-10-28EVENTUpcomingQ3 2026 earnings (expected) estimated date
    2026-06-30 03:38 UTCEARNINGSUpcomingForecast: earnings_forecast (90d)
    2026-06-12FILING8-K filing →
    2026-06-05FILING8-K filing →
    2026-06-04 00:00 UTCINSIDER7 insider transactions — 2026-06 7 derivative
    2026-06-04INSIDERHeron Patrick J acquired 12.5k sh Stock option (right to buy) — Director, 10% owner
    2026-06-04INSIDERAynechi Tiba acquired 12.5k sh Stock option (right to buy) — Director
    2026-06-04INSIDERRyder Steven acquired 12.5k sh Stock option (right to buy) — Director
    2026-06-04INSIDERHoerter Steven L. acquired 12.5k sh Stock option (right to buy) — Director
    2026-06-04INSIDERStelzer Laurie acquired 12.5k sh Stock option (right to buy) — Director
    2026-06-04INSIDERPescovitz Ora H. acquired 12.5k sh Stock option (right to buy) — Director
    2026-06-04INSIDERMathers Edward T acquired 12.5k sh Stock option (right to buy) — Director
    2026-05-11FILING8-K filing →
    2026-05-08 00:00 UTCINSIDER10 insider transactions — 2026-05 · net sell $1.9M 3 derivative
    2026-05-08INSIDERAzoulay Salomon transacted 55.0k sh — Chief Medical Officer ~$575k
    2026-05-08INSIDERAzoulay Salomon sold 55.0k sh — Chief Medical Officer ~$2.11M
    2026-05-08INSIDERAzoulay Salomon transacted 15.0k sh — Chief Medical Officer ~$240k
    2026-05-08INSIDERAzoulay Salomon sold 15.0k sh — Chief Medical Officer ~$575k
    2026-05-08INSIDERAzoulay Salomon acquired 55.0k sh Stock option (right to buy) — Chief Medical Officer
    2026-05-08INSIDERAzoulay Salomon acquired 15.0k sh Stock option (right to buy) — Chief Medical Officer
    2026-05-07FILING8-K filing →
    2026-05-07FILING10-Q filing →
    2026-05-06INSIDERAzoulay Salomon sold 231 sh — Chief Medical Officer ~$7k
    2026-05-06INSIDERHawryluk P. Kent sold 607 sh — Director, President & CEO ~$18k
    2026-05-01INSIDERHoerter Steven L. transacted 11.9k sh — Director
    2026-05-01INSIDERHoerter Steven L. acquired 74.2k sh Stock option (right to buy) — Director
    2026-04-22FILINGDEF 14A filing →
    2026-03-13 00:00 UTCINSIDER1 insider transaction — 2026-03 · net buy $526k
    2026-03-13INSIDERHawryluk P. Kent bought 18.5k sh — Director, President & CEO ~$526k
    2026-03-12FILING10-K filing →
    2026-03-12FILING8-K filing →
    2026-03-09FILING8-K filing →
    2026-02-27FILING8-K filing →
    2026-02-26 00:00 UTCINSIDER8 insider transactions — 2026-02 · net buy $460k 4 derivative
    2026-02-26INSIDERHawryluk P. Kent transacted 28.8k sh — Director, President & CEO ~$460k
    2026-02-26INSIDERHawryluk P. Kent disposed of 28.8k sh Stock option (right to buy) — Director, President & CEO
    2026-02-05FILING8-K filing →
    2026-02-02INSIDERAzoulay Salomon transacted 15.0k sh — Chief Medical Officer
    2026-02-02INSIDERBartram Richard transacted 15.0k sh — Chief Financial Officer
    2026-02-02INSIDERHawryluk P. Kent transacted 35.2k sh — Director, President & CEO
    Showing the 40 most recent of 56 entries.
    The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage