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On Tuesday, Jefferies analysts began coverage on Mineralys Therapeutics, Inc. (NASDAQ: MLYS) with a Hold rating. The analysts set a price target of $15.00 for the company’s stock, reflecting cautious optimism about the company’s future prospects. According to InvestingPro data, analyst targets range from $26 to $48, with the stock currently trading near $16.
Mineralys Therapeutics is developing a novel blood pressure medication, with the company currently valued at $1.06 billion. While the company holds more cash than debt and maintains strong liquidity with a current ratio of 26.48, InvestingPro analysis indicates rapid cash burn. Analysts noted that the company is expected to file for regulatory approval in 2026, with the following year focused on execution and commercial preparation ahead of a planned 2027 launch.
The consensus among analysts anticipates the medication to generate $1 billion in revenue by 2033. However, Jefferies analysts estimate figures that are 40-50% lower due to potential access challenges and competition from AstraZeneca (NASDAQ:AZN).
A potential area for upside, according to analysts, could be if Mineralys Therapeutics secures a partner to expedite the launch of the medication. However, they noted that it is difficult to predict the financial implications of such a partnership at this stage, and it may affect near-term mergers or acquisition scenarios.
In other recent news, Mineralys Therapeutics reported better-than-expected earnings for the first quarter of 2025. The company announced a loss of $0.79 per share, surpassing analysts’ expectations of a $1.08 loss. Mineralys highlighted progress in its product pipeline, particularly the promising results from the pivotal trials of its hypertension treatment, lorundrostat. These trials have shown significant efficacy in reducing blood pressure, which could support a future New Drug Application to the FDA. Additionally, Mineralys plans to present data from its Phase 3 Launch-HTN trial at the European Meeting on Hypertension and Cardiovascular Protection. The company maintains a strong cash position, with $343 million in cash, cash equivalents, and investments, which is expected to fund operations into 2027. Mineralys’ increased R&D expenses reflect its commitment to advancing its clinical programs. The firm is also preparing for a potential FDA approval for lorundrostat, which could expand its market presence in treating cardiorenal conditions.
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