Moody’s upgrades Agnico Eagle’s rating to A3 on debt reduction
Rodman David Malcom, the Chief Medical (TASE:BLWV) Officer of Mineralys Therapeutics , Inc. (NASDAQ:MLYS), a biotech company currently valued at $901 million, recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. The stock has shown strong momentum, gaining over 8% in the past week, according to InvestingPro data. On April 14, Malcom sold shares totaling $165,185. The sale involved two separate transactions, with shares sold at prices ranging from $13.6929 to $14.83.
In addition to the sales, Malcom exercised stock options to acquire 6,348 shares of common stock at a price of $1.08 per share, amounting to a total value of $6,855. These transactions were conducted under a Rule 10b5-1 trading plan, which was adopted on October 25, 2024.
Following these transactions, Malcom’s direct ownership of Mineralys Therapeutics stands at 107,926 shares. The company maintains a strong financial position with more cash than debt on its balance sheet, and its stock typically moves counter to the market with a beta of -0.39.
In other recent news, Mineralys Therapeutics, Inc. announced the pricing of its public offering at $13.50 per share, aiming to raise approximately $175 million. This offering is intended to fund the clinical development of lorundrostat, their lead drug candidate, as well as for research, manufacturing, and corporate purposes. Additionally, Mineralys has launched a $250 million stock offering, with an option for underwriters to purchase an additional $37.5 million in shares. The funds from this offering are similarly earmarked for advancing lorundrostat’s development and associated activities.
Mineralys presented positive outcomes from its Phase 3 Launch-HTN and Phase 2 Advance-HTN studies, showing significant reductions in systolic blood pressure. The Launch-HTN trial demonstrated a placebo-adjusted reduction of 11.7 mmHg at the 12-week mark. Stifel analysts maintained their Buy rating with a $45 price target, while Goldman Sachs also reaffirmed a Buy rating with a $24 target, reflecting confidence in the company’s clinical trial results. The comprehensive data from these studies were presented at the ACC (NSE:ACC) 2025 Late Breaker session, reinforcing the safety and efficacy of lorundrostat.
Mineralys plans to present additional data from the Advance-HTN trial at the upcoming American College of Cardiology’s Annual Scientific Session & Expo, highlighting lorundrostat’s potential as a treatment for uncontrolled and resistant hypertension.
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