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Mineralys Therapeutics, Inc. (MLYS) stock has reached a 52-week low, trading at $8.57, as the company faces a challenging market environment. According to InvestingPro data, while the company maintains a strong liquidity position with a current ratio of 14.02 and more cash than debt, it’s currently burning through cash rapidly. This new low comes as a significant downturn from previous performance, with the stock showing a year-to-date decline of 24.86%. Investors are closely monitoring the company’s strategic moves and market conditions that could influence future performance and recovery from this low point. Despite current challenges, analyst price targets range from $24 to $45, suggesting potential upside. Get deeper insights and access to additional ProTips with an InvestingPro subscription.
In other recent news, Mineralys Therapeutics reported a notable miss in its earnings per share (EPS) for the fourth quarter of 2024, recording an EPS of -0.98 against the forecasted -0.71. This miss highlights the challenges the company faces with increased research and development expenses, which contributed to a net loss of $177.8 million for the year. Despite this financial setback, Mineralys maintains a strong cash position, with $198.2 million in cash and investments, expected to fund operations through the first quarter of 2026. Stifel analysts have maintained a Buy rating on Mineralys Therapeutics, with a $45 target price, expressing optimism about the company’s upcoming clinical study results, particularly for lorundrostat, a treatment for uncontrolled or resistant hypertension. The pivotal ADVANCE-HTN trial results are anticipated in March, with the LAUNCH-HTN trial results expected in mid-2025. These trials are critical for determining the drug’s regulatory and commercial viability. Analysts suggest that a reduction in blood pressure of between 8 to 10 mmHg could be seen as a success, with the potential for even greater effects in certain patient subpopulations.
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