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Investing.com -- Mineralys Therapeutics , Inc. (NASDAQ:MLYS) saw its stock jump 2.8% after reporting first quarter 2025 financial results that beat analyst expectations. The clinical-stage biopharmaceutical company focused on developing hypertension treatments posted a narrower-than-anticipated loss for the quarter.
Mineralys reported a Q1 adjusted loss of $0.79 per share, surpassing the analyst consensus estimate of a $1.08 per share loss by $0.29. The company did not report any revenue for the quarter.
The improved bottom line came despite higher expenses, with research and development costs rising to $37.9 million from $30.8 million in the same quarter last year. General and administrative expenses also increased to $6.6 million from $4.6 million YoY.
Mineralys highlighted positive data from two pivotal trials of its lead drug candidate lorundrostat for uncontrolled and resistant hypertension. CEO Jon Congleton stated, "With the success of our two pivotal trials, we are working toward submitting our new drug application with a pre-NDA meeting with the FDA anticipated in the fourth quarter of 2025."
The company ended the quarter with $343.0 million in cash and investments, bolstered by a $201.2 million public equity offering in March. Mineralys believes its current cash position will fund operations into 2027.
Looking ahead, Mineralys expects topline data from its Explore-CKD Phase 2 trial in Q2 2025. The company also initiated a Phase 2 trial for obstructive sleep apnea in Q1 2025.
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