Mineralys Therapeutics falls after $150 mln stock deal
BUZZ-Mineralys Therapeutics falls after $150 mln stock deal ** Mineralys Therapeutics' MLYS.O shares down 8.5% premarket to $26.40 after $150 mln equity offering
** Radnor, Pennsylvania-based MLYS early Weds says it sold ~5.66 mln shares at $26.50
** Offering price represents 8.1% discount to stock's last close
** BofA, Goldman Sachs and Evercore joint bookrunners
** Co intends to use net proceeds to partially fund $200 mln upfront payment for the repurchase of the royalty obligation under its license agreement with Tanabe Pharma Corporation relating to MLYS's blood pressure drug, lorundrostat
** MLYS also announced early Weds a $500 mln committed debt facility with funds managed by Pharmakon Advisors, LP
** With ~82.5 mln shares outstanding, MLYS has about $2.4 bln market cap
** Through Tues close, shares down ~21% YTD
** 9 of 10 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $51.50, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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