Mineralys Therapeutics Announces Pricing of $175 | U.S. Markets

Mineralys Therapeutics declares a public offering of 12.9 million shares at $13.50 every, raising $175 million for scientific development.

Quiver AI Abstract

Mineralys Therapeutics, Inc., a biopharmaceutical company centered on therapies for hypertension and associated illnesses, introduced the pricing of an underwritten public offering for 12,962,962 shares of its common stock at $13.50 per share, aiming to raise roughly $175 million. The offering consists of a 30-day option for underwriters to buy an extra 1,944,444 shares. Proceeds shall be used for the scientific development of their lead product, lorundrostat, alongside different company bills. The offering is predicted to close on or round March 13, 2025, subject to common circumstances. The securities are being issued beneath a shelf registration assertion with the SEC, and varied financial establishments are facilitating the offering.

Potential Positives

• Mineralys Therapeutics efficiently priced an underwritten public offering of roughly $175 million, offering vital capital for the company’s scientific development efforts.
• The profitable execution of the offering signifies sturdy investor curiosity and confidence in Mineralys and its lead product candidate, lorundrostat.
• The funds raised shall be utilized for advancing analysis and development, manufacturing, and pre-commercialization actions, positioning the company for potential future growth.
• The engagement of respected financial establishments as joint book-running managers enhances the company’s credibility within the market.

Potential Negatives

• The need for a public offering might point out money move points or financial instability within the company, particularly because it raises funds primarily for development and dealing capital.
• The numerous dilution of present shares may concern present shareholders about their investment’s worth and potential returns.
• Reliance on forward-looking statements emphasizes the uncertainties surrounding the company’s future efficiency and the success of its scientific development, probably inflicting investor apprehension.

FAQ

What’s the public offering price for Mineralys shares?

The public offering price for Mineralys shares is set at $13.50 per share.

What number of shares is Mineralys offering on this public offering?

Mineralys is offering 12,962,962 shares of its common stock on this public offering.

What’s going to Mineralys do with the proceeds from the offering?

The proceeds will fund scientific development of lorundrostat, manufacturing, and dealing capital wants.

Who’re the managers of the Mineralys public offering?

BofA Securities, Evercore ISI, Goldman Sachs, Stifel, and Wells Fargo Securities are the joint managers.

When is the anticipated time limit for the public offering?

The public offering is predicted to close on or about March 13, 2025, subject to circumstances.

Disclaimer: That is an AI-generated abstract of a press release distributed by GlobeNewswire. The model used to summarize this release might make errors. See the total release right here.

$MLYS Insider Buying and selling Exercise

$MLYS insiders have traded $MLYS stock on the open market 7 occasions previously 6 months. Of these trades, 0 have been purchases and seven have been gross sales.

Right here’s a breakdown of latest trading of $MLYS stock by insiders over the past 6 months:

• DAVID MALCOM RODMAN (Chief Medical Officer) has made 0 purchases and a couple of gross sales promoting 30,508 shares for an estimated $458,463.
• JON CONGLETON (Chief Government Officer) has made 0 purchases and a couple of gross sales promoting 33,604 shares for an estimated $372,515.
• ADAM SCOTT LEVY (CFO and Secretary) has made 0 purchases and three gross sales promoting 21,514 shares for an estimated $243,867.

To trace insider transactions, try Quiver Quantitative’s insider trading dashboard.

$MLYS Hedge Fund Exercise

Now we have seen 59 institutional buyers add shares of $MLYS stock to their portfolio, and 36 lower their positions of their most up-to-date quarter.

Listed here are some of the most important latest strikes:

• MILLENNIUM MANAGEMENT LLC added 1,002,941 shares (+1015.8%) to their portfolio in This autumn 2024, for an estimated $12,346,203
• OCTAGON CAPITAL ADVISORS LP eliminated 600,000 shares (-100.0%) from their portfolio in This autumn 2024, for an estimated $7,386,000
• INTEGRAL HEALTH ASSET MANAGEMENT, LLC added 519,000 shares (+145.8%) to their portfolio in This autumn 2024, for an estimated $6,388,890
• JPMORGAN CHASE & CO added 482,174 shares (+2251.5%) to their portfolio in This autumn 2024, for an estimated $5,935,561
• ADAMS STREET PARTNERS LLC eliminated 402,847 shares (-26.3%) from their portfolio in This autumn 2024, for an estimated $4,959,046
• STEMPOINT CAPITAL LP added 400,101 shares (+inf%) to their portfolio in This autumn 2024, for an estimated $4,925,243
• ORBIMED ADVISORS LLC eliminated 391,302 shares (-19.5%) from their portfolio in This autumn 2024, for an estimated $4,816,927

To trace hedge funds’ stock portfolios, try Quiver Quantitative’s institutional holdings dashboard.

Full Launch

RADNOR, Pa., March 11, 2025 (GLOBE NEWSWIRE) — Mineralys Therapeutics, Inc. (Nasdaq: MLYS), a clinical-stage biopharmaceutical company centered on developing medicines to focus on hypertension, power kidney illness (CKD), obstructive sleep apnea (OSA) and different illnesses pushed by dysregulated aldosterone, introduced right this moment the pricing of an underwritten public offering of 12,962,962 shares of its common stock at a public offering price of $13.50 per share. The combination gross proceeds to Mineralys from the offering, earlier than deducting underwriting reductions and commissions and different estimated offering bills, are anticipated to be roughly $175.0 million. As well as, Mineralys has granted the underwriters a 30-day option to buy up to an extra 1,944,444 shares of its common stock. All of the securities to be bought within the offering are to be bought by Mineralys. The offering is predicted to close on or about March 13, 2025, subject to the satisfaction of customary closing circumstances.

BofA Securities, Evercore ISI, Goldman Sachs & Co. LLC, Stifel and Wells Fargo Securities are appearing as joint book-running managers for the offering. LifeSci Capital is appearing as lead supervisor and H.C. Wainwright & Co. is appearing as co-manager for the offering.

Mineralys intends to make use of the online proceeds from the proposed offering to fund scientific development of lorundrostat, together with analysis and development and manufacturing, and pre-commercialization actions, in addition to for working capital and common company functions.

The securities described above are being provided by Mineralys pursuant to a shelf registration assertion beforehand filed and declared efficient by the Securities and Change Fee (SEC). A preliminary prospectus complement and accompanying prospectus referring to the offering has been filed, and a ultimate prospectus complement and accompanying prospectus associated to the offering shall be filed with the SEC. When accessible, copies of the ultimate prospectus complement and the accompanying prospectus referring to the offering could also be obtained from: BofA Securities NC1-022-02-25, Consideration: Prospectus Division, 201 North Tryon Avenue, Charlotte, North Carolina 28255-0001 or by e-mail at [email protected]; Evercore Group L.L.C., Consideration: Fairness Capital Markets, 55 East 52nd Avenue, thirty sixth Ground, New York, New York 10055, by phone at (888) 474-0200, or by e-mail at [email protected]; Goldman Sachs & Co. LLC, Consideration: Prospectus Division, 200 West Avenue, New York, NY 10282, through phone: (866) 471-2526, through fax: 212-902-9316, or through e-mail: [email protected]; Stifel, Nicolaus & Firm, Included, Consideration: Syndicate, One Montgomery Avenue, Suite 3700, San Francisco, California 94104, through phone at (415) 364-2720 or through e-mail at [email protected]; or Wells Fargo Securities, LLC, Consideration: WFS Buyer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, by phone at 1-800-645-3751, or by e-mail at [email protected]. Digital copies of the preliminary prospectus complement and accompanying prospectus will even be accessible on the web site of the SEC at http://www.sec.gov.

This press release shall not represent an offer to promote or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction wherein such offer, solicitation or sale can be illegal previous to the registration or qualification beneath the securities legal guidelines of any such jurisdiction.

About Mineralys

Mineralys Therapeutics is a clinical-stage biopharmaceutical company centered on developing medicines to focus on hypertension, CKD, OSA and different illnesses pushed by dysregulated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, extremely selective aldosterone synthase inhibitor that Mineralys Therapeutics is developing for cardiorenal circumstances affected by dysregulated aldosterone, together with hypertension, CKD and OSA. Mineralys is predicated in Radnor, Pennsylvania, and was based by Catalys Pacific.

Ahead-Wanting Statements

Statements contained on this press release concerning issues that aren’t historic info are “forward-looking statements” within the that means of the Personal Securities Litigation Reform Act of 1995. Such forward-looking statements embody statements concerning, amongst different issues, the completion of the proposed public offering and the anticipated use of proceeds therefrom. As a result of such statements are subject to dangers and uncertainties, precise outcomes might differ materially from these expressed or implied by such forward-looking statements. These forward-looking statements are based mostly upon Mineralys’ present expectations and contain assumptions that will by no means materialize or might show to be incorrect. Precise outcomes may differ materially from these anticipated in such forward-looking statements as a outcome of varied dangers and uncertainties, which embody, with out limitation, dangers and uncertainties related to market circumstances, the satisfaction of customary closing circumstances associated to the proposed public offering, and the opposite dangers described in Mineralys’ filings with the SEC. All forward-looking statements contained on this press release converse solely as of the date on which they have been made. Mineralys undertakes no obligation to replace such statements to replicate occasions that happen or circumstances that exist after the date on which they have been made, besides as required by law.

CONTACTS

Investor Relations

[email protected]

Media Relations

Tom Weible

Elixir Well being Public Relations

Cellphone: (1) 515-707-9678

E mail: [email protected]

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