Updates

** Shares of drug developer MBX Biosciences MBX.O fall 10% to $33.5

** MBX says its experimental once-weekly drug, canvuparatide, showed sustained benefit in patients with chronic hypoparathyroidism, a hormone disorder that causes low calcium levels

** In a one-year open-label extension study, 57% of patients met the main response criteria, compared with 63% response rate seen at 12 weeks in a mid-stage trial

** "While 1-year response rate is consistent with 12 week data, it declined from the 6 month open-label extension cut of 79% (n=56) and we think investors were hoping to see closer to the 79% 6 month response at 52 weeks," Barclays says

** Injection site reactions were reported in 10% of patients in the open-label extension study - MBX

** Company says it remains on track to start a late-stage trial in Q3 2026

** Including session moves, shares up 13% YTD