Mineralys drops as $175 mln stock offering priced

Mineralys Therapeutics

12/03/2025 11:04

** Shares of Mineralys Therapeutics MLYS.O down 4.7% at $13.63 before the bell after follow-on priced

      ** Radnor, Pennsylvania-based firm late Tues said sold ~12.96 mln shares at $13.50 for $175 mln gross proceeds

            ** Offering price represents 5.6% discount to last sale

            ** On Mon,

      MLYS soared 42% to close at $14.96 after

          lorundrostat, its drug
         to treat hypertension, met main goals in mid- and late-stage trials

    ** Late Mon, co
     commenced $250 mln stock offering to fund development of the drug

    ** Co has ~49.8 mln shares outstanding for $712 mln market cap

        ** BofA, Evercore, Goldman Sachs, Stifel and Wells Fargo are jt bookrunners for stock offering

        ** All 7 analysts covering MLYS are bullish with $33 median PT, per LSEG data

        ** Shares debuted in Feb 2023 after co's IPO priced at $16

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

(( lance.tupper@tr.com 1-646-279-6380))