CEO: Nasdaq debut brings MBX Biosciences closer to ‘ultimate goal’
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe CEO of Carmel-based MBX Biosciences says the company’s debut two weeks ago on the Nasdaq Stock Market is a huge milestone that has been in the works for several years.
The life sciences company’s shares began trading on Sept. 13, and co-founder and CEO Kent Hawryluk said on Inside INdiana Business with Gerry Dick that the move was like opening a door to resources they didn’t have before.
“It really is a means to an end, and we believe it helps bring us closer to our ultimate goal, which is bringing new medicines to the patients who need them,” Hawryluk said.
MBX Biosciences’ lead drug candidate treats an uncommon endocrine disease, and the startup is also developing an anti-obesity drug. Hawryluk said the company has an “incredible opportunity” to be a part of what he called the obesity treatment revolution that’s currently taking place.
“We are advancing multiple MBX obesity programs, including MBX 4291, which…has the potential for once-monthly dosing as well as potential increases in GI tolerability and efficacy,” he said. “We’re very excited to advance our programs forward in obesity and help make a difference in patients who struggle with obesity.”
The company wants to advance MBX 4291 from preclinical development to clinical testing, our partners at the IBJ previously reported.
The five-year-old company is the brainchild of Dr. Richard DiMarchi, a serial entrepreneur in Indiana. His other startups have seen great success, collecting more than $500 million for founders and investors.
DiMarchi serves as an external advisor through a continuing research agreement between the company and his laboratory at Indiana University Bloomington.
When MBX shares opened on the market, they were priced at $23 per share. The company’s stock closed Thursday at $24.49 per share.
Hawryluk said said the company is excited about the future.
“This is incredibly inspiring,” he said. “Every day, we stay focused on our objectives and try to keep these programs, moving forward. So it isn’t just about growing the company. It’s about ensuring that the work we’re doing is having a positive impact on the on the lives of patients and their quality of life.”