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Rodman David Malcom, Chief Medical (TASE:BLWV) Officer of Mineralys Therapeutics , Inc. (NASDAQ:MLYS), executed a series of stock transactions on April 1, 2025, according to a recent SEC filing. The transactions included the sale of common stock totaling $879,008. The shares were sold at prices ranging from $14.9978 to $16.77 per share, notably above the current trading price of $13.53. InvestingPro analysis shows the stock has demonstrated significant volatility, with analyst targets ranging from $26 to $52.
In addition to the sales, Rodman also acquired 1,606 shares through the exercise of stock options at a price of $1.08 per share. Following these transactions, Rodman holds a total of 116,704 shares in the company. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, though it’s currently burning through cash reserves.
These transactions were made under a Rule 10b5-1 trading plan, which was adopted by Rodman on October 25, 2024. For deeper insights into insider trading patterns and comprehensive analysis, subscribers to InvestingPro can access the detailed Pro Research Report, available for over 1,400 US stocks.
In other recent news, Mineralys Therapeutics, Inc. has announced the pricing of its public offering at $13.50 per share, aiming to raise approximately $175 million. The funds are intended for the development of lorundrostat, their lead drug candidate for hypertension, with additional uses for research, manufacturing, and general corporate purposes. In conjunction with this, Mineralys also initiated a $250 million public offering, with an option for underwriters to purchase additional shares. These financial moves are supported by BofA Securities, Evercore ISI, Goldman Sachs & Co. LLC, Stifel, and Wells Fargo (NYSE:WFC) Securities among others, as joint book-running managers.
Furthermore, Mineralys has presented encouraging results from its Phase 2 Advance-HTN trial and Phase 3 Launch-HTN trial at the American College of Cardiology’s Annual Scientific Session & Expo. The trials demonstrated significant reductions in systolic blood pressure, with lorundrostat showing a favorable safety profile compared to existing treatments like spironolactone. Analysts from Stifel and Goldman Sachs have maintained their Buy ratings on Mineralys, with price targets of $45 and $24 respectively, reflecting confidence in the company’s clinical advancements.
The recent data from Mineralys’ trials have been recognized by key opinion leaders as offering clinically meaningful benefits, reinforcing the potential of lorundrostat in treating hypertension. The company’s ongoing research and these promising trial outcomes are crucial as they continue to develop solutions for conditions affected by dysregulated aldosterone.
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