Mineralys Therapeutics (NASDAQ:MLYS) Issues Earnings Results

Mineralys Therapeutics (NASDAQ:MLYS) released its quarterly earnings data on Tuesday. The company reported ($2.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30), FiscalAI reports.

Here are the key takeaways from Mineralys Therapeutics’ conference call:

• Positive Sentiment: Mineralys remains on track for the December 22, 2026 PDUFA date for lorundrostat, with its commercial infrastructure, payer outreach, launch campaign, and sales organization nearing completion.
• Positive Sentiment: New analyses supported lorundrostat’s potential differentiation, including clinically meaningful blood-pressure reductions in chronic kidney disease patients, a 52% placebo-adjusted reduction in albuminuria, and favorable changes in exploratory heart-failure biomarkers.
• Positive Sentiment: Management said payer discussions have been encouraging, with commercial coverage expected to build ahead of Medicare during 2027; the company also plans reimbursement and patient-support teams to facilitate access.
• Positive Sentiment: Mineralys repurchased potential future royalty obligations to Tanabe for $200 million upfront, while raising $150 million in equity and securing a $500 million senior secured term loan. Management believes its cash and investments are sufficient to fund planned operations, including launch activities, into 2028.
• Negative Sentiment: Second-quarter net loss increased sharply to $241.1 million from $43.3 million a year earlier, primarily because of the $200 million Tanabe payment and higher general and administrative costs, with additional interest obligations from the new debt facility.

Mineralys Therapeutics Trading Down 0.2%

Shares of NASDAQ MLYS traded down $0.05 during trading hours on Tuesday, hitting $27.33. 668,963 shares of the company traded hands, compared to its average volume of 1,290,093. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -13.33 and a beta of 0.68. The company’s 50 day moving average price is $26.41 and its 200 day moving average price is $27.68. Mineralys Therapeutics has a 12 month low of $12.59 and a 12 month high of $47.65.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MLYS shares. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, TD Cowen began coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating on the stock. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Insider Buying and Selling

In related news, CEO Jon Congleton sold 75,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the sale, the chief executive officer directly owned 614,321 shares in the company, valued at $16,058,350.94. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 7,438 shares of Mineralys Therapeutics stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total transaction of $199,859.06. Following the transaction, the insider directly owned 38,400 shares of the company’s stock, valued at $1,031,808. The trade was a 16.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 229,199 shares of company stock valued at $5,967,423 in the last three months. Corporate insiders own 18.94% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently made changes to their positions in the company. RA Capital Management L.P. raised its position in Mineralys Therapeutics by 19.1% in the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after purchasing an additional 1,176,470 shares during the period. State Street Corp boosted its position in shares of Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock valued at $115,584,000 after buying an additional 1,881,976 shares during the period. Caligan Partners LP boosted its position in shares of Mineralys Therapeutics by 37.4% during the third quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock valued at $105,139,000 after buying an additional 755,302 shares during the period. Franklin Resources Inc. grew its stake in shares of Mineralys Therapeutics by 0.3% during the third quarter. Franklin Resources Inc. now owns 1,809,768 shares of the company’s stock valued at $68,626,000 after buying an additional 6,171 shares during the last quarter. Finally, Orbimed Advisors LLC grew its stake in shares of Mineralys Therapeutics by 93.3% during the third quarter. Orbimed Advisors LLC now owns 1,469,494 shares of the company’s stock valued at $55,723,000 after buying an additional 709,143 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.