MBX Biosciences, Inc. (MBX) Presents at Morgan Stanley 24th Annual Global Healthcare Conference Transcript

MBX Biosciences, Inc. ( MBX ) Morgan Stanley 24th Annual Global Healthcare Conference September 16, 2026 8:30 AM EDT Company Participants Steven Hoerter - Executive Chairperson, CEO & President Salomon Azoulay - Chief Medical Officer Conference Call Participants Jason Russell - Morgan Stanley Presentation Jason Russell Morgan Stanley Okay. Great. Good morning, everyone. Welcome to day 3. We're saving the best for last here at the Morgan Stanley Conference. I'm Jason Russell, and it's a pleasure to welcome MBX to the stage. So CEO, Steve Hoerter as well as Dr. Sam Azoulay, who is the Chief Medical Officer. MBX is first time here at the Morgan Stanley conference. We're pumped to have him with us. Just as a quick overlay for those that don't know, MBX is developing long-acting precision peptide therapeutics lead in the clinic, late-stage Canvuparatide now, I think, officially started in Phase III. That's right. For chronic hypoparathyroidism and a very exciting MBX-4291, potential true once-monthly GLP-1/GIP prodrug for obesity with, I think, some data expected later this year. So Steve, Sam, welcome. Maybe we'll start with some high-level perspective. I mean, Steve, you took the CEO job recently, stepped in from the Board. And I think in July at a very important moment for the company. I already talked about where we are in the clinic. You have a very unique operating experience, having transitioned Deciphera into a commercial stage company and a successful exit. So maybe starting with your priorities as the CEO, what are the things that if we step back 12 months from now that you think investors should judge you and the team's performance on? Question-and-Answer Session Steven Hoerter Executive Chairperson, CEO & President Yes. It's been a really transformative year for the company in 2026. And just to set the stage, Jason, and by the way, thanks for