Unlocking IPO Success: MBX Biosciences’ Journey to Financial Reporting Excellence

In preparation for public life, MBX Biosciences recognized that relying on tools such as Excel, Word, and PowerPoint for financial reporting limited their controls, while increasing opportunities for potential risks such as data accuracy, version management, and security. In order to enhance reporting and compliance, they needed a solution that could streamline the process, while also complementing their Oracle NetSuite environment.

When preparation meets opportunity

IPOs are complex, time-consuming endeavors that necessitate extensive diligence and review — but a successful launch will help position your company for success.

Here are 7 key milestones in IPO preparation:

Dealmakers entered 2025 with cautious optimism, hoping that the tailwinds from late 2024 would carry through. The economic climate shifted toward volatility, with tariffs, policy shakeups, and global market swings dominating the headlines of the new year. However, as market conditions stabilized across May and June, we’ve seen encouraging trends in market activity kicking off the beginning of Q3.

The initial public offering (IPO) process includes a long list of responsibilities, and filing several disclosure forms is among the most important. Determining which documents to provide and assembling the information can take a significant amount of time. Among the disclosure forms that corporations must file is SEC Form 424. This form provides information about the offering for investors to review and use to decide whether to buy shares.

In January 2024, the Securities and Exchange Commission (SEC) approved new rules and amendments to better align Special Purpose Acquisition Company (SPAC) transactions with traditional IPOs. Now as the June 30^th compliance date quickly approaches, businesses must prepare to meet the new structured data requirements.

IPOs are a crucial element in the tech ecosystem. They provide access to capital, liquidity for investors, and an avenue for increasing brand value. A successful public offering is an important milestone for every tech entrepreneur.

So, it’s no surprise that this week’s panel at NYC Tech Week, IPO journey in the era of AI, attracted a lively and engaged audience, eager for insights. I had the pleasure of participating in the discussion, which was sponsored by PwC and moderated by PwC partner Christina White.

Navigating the private investment lifecycle is essential for companies seeking to scale, compete and ultimately reach public markets. This lifecycle includes a series of structured funding rounds — each aligned with a company’s growth stage and strategic goals. From early seed capital that fuels initial product development to later-stage funding that supports expansion or IPO readiness, every phase plays a critical role in building long-term value.

In today’s competitive and unpredictable market, private companies are adopting public company disciplines — from stronger governance to smarter tech investments — to attract capital, scale efficiently, and stay ahead.

This white paper, Private Companies in 2025: Scaling Through Public Practices, produced with our partner, NetSuite, explores how forward-thinking private companies are: