Credit Suisse initiates coverage on Mineralys with 'outperform' rating

Mineralys Therapeutics

07/03/2023 13:44

** Credit Suisse initiates coverage on drug developer Mineralys Therapeutics
Inc  MLYS.O  with an "outperform" rating and PT of $40 
    ** Brokerage sees significant upside to co's lead drug candidate,
lorundrostat, being developed to treat uncontrolled hypertension
    ** Lorundrostat's superior efficacy in the obesity-related patient
population look "remarkably better" to what standard-of-care achieved and could
be the "key differentiation" needed to drive its success in the generic
hypertension market -CS
    ** Brokerage estimates peak global sales of $2.6 billion for lorundrostat in
2037
    ** Brokerage anticipates a potential partnership deal in the near-term,
after the company released mid-stage study data last week related to
lorundrostat
    ** Shares rise 3.2% to $19.57 premarket     

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))