Mineralys launches $250 mln equity offering to fund blood pressure drug; shares dip

Mineralys Therapeutics

11/03/2025 13:47

** Shares of Mineralys Therapeutics MLYS.O down 0.5% at $14.89 early Tues as co looks to raise equity after its stock soared in previous session

      ** MLYS shares on Mon hit two-year high, before ending session up 42% at $14.96, after its blood pressure drug, lorundrostat, met main goals in mid- and late-stage trials

    ** After the bell, co
     commenced $250 mln stock offering to fund development of lorundrostat, as well as working capital, general purposes

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

        ** The Radnor, Pennsylvania-based firm has ~49.8 mln shares outstanding for ~$745 mln market cap

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

        ** Co went public in Feb 2023 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))