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RADNOR, Pa. - Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has completed its previously announced underwritten public offering, raising approximately $287.5 million in gross proceeds, the clinical-stage biopharmaceutical company announced Thursday. The stock, currently trading at $33.14, has shown remarkable momentum with a 137.61% gain year-to-date, according to InvestingPro data.
The offering consisted of 11,274,509 shares of common stock sold at $25.50 per share, which included the full exercise of the underwriters’ option to purchase an additional 1,470,588 shares.
BofA Securities, Evercore ISI, Goldman Sachs & Co. LLC, Stifel, and Wells Fargo Securities acted as joint book-running managers for the offering. LifeSci Capital served as lead manager, while H.C. Wainwright & Co. acted as co-manager.
Mineralys, which focuses on developing medicines targeting hypertension and related conditions such as chronic kidney disease and obstructive sleep apnea, plans to use the proceeds to fund clinical development of its product candidate lorundrostat. The funds will support research and development, manufacturing, pre-commercialization activities, working capital, and general corporate purposes. The company maintains a strong financial position with a current ratio of 15.12, indicating robust liquidity. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with 15 additional ProTips available for subscribers.
Lorundrostat is described as a proprietary, orally administered, selective aldosterone synthase inhibitor.
The offering was made pursuant to registration statements previously filed with and declared effective by the Securities and Exchange Commission, according to the company’s press release statement.
Mineralys Therapeutics is based in Radnor, Pennsylvania, and was founded by Catalys Pacific.
In other recent news, Mineralys Therapeutics reported its second-quarter 2025 earnings, revealing a narrower-than-expected loss. The company posted an earnings per share (EPS) of -$0.66, outperforming analysts’ forecast of -$1.06. This positive earnings surprise has contributed to increased investor confidence. In addition, Mineralys Therapeutics announced a public stock offering of $175 million, with an option for underwriters to purchase up to an additional $26.25 million in shares. The proceeds are intended to fund the clinical development of its product candidate lorundrostat. Furthermore, Jefferies has raised its price target for Mineralys Therapeutics to $26 from $15, maintaining a Hold rating. This adjustment follows a significant increase in the company’s stock price after a competitor’s presentation. These developments reflect ongoing activities and adjustments within the company.
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