Mineralys Therapeutics (NASDAQ:MLYS) Announces Earnings Results

Key Points

• Mineralys missed earnings expectations: The company reported a quarterly loss of $2.85 per share, significantly wider than analysts’ consensus estimate of a $0.55 loss.
• Lorundrostat remains on track: Management reaffirmed the December 22, 2026 PDUFA date and cited promising data, including a 52% placebo-adjusted reduction in albuminuria and meaningful blood-pressure reductions in chronic kidney disease patients.
• Financing strengthened but losses increased: Mineralys raised $150 million in equity, secured a $500 million term loan and paid $200 million to repurchase future royalty obligations; the payment contributed to a second-quarter net loss of $241.1 million, up from $43.3 million a year earlier.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) announced its quarterly earnings results 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 Stock Performance

Shares of MLYS stock traded down $0.05 during mid-day trading on Tuesday, hitting $27.33. 668,963 shares of the stock were exchanged, compared to its average volume of 1,290,093. The stock's fifty day simple moving average is $26.41 and its two-hundred day simple moving average is $27.68. Mineralys Therapeutics has a 12-month low of $12.59 and a 12-month high of $47.65. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -13.33 and a beta of 0.68.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. HC Wainwright reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Finally, TD Cowen assumed coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They set a "buy" rating on the stock. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.33.

Insider Transactions at Mineralys Therapeutics

In related news, insider Eric Warren sold 7,438 shares of the company's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total value of $199,859.06. Following the completion of the sale, the insider directly owned 38,400 shares of the company's stock, valued at $1,031,808. This represents a 16.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $30.30, for a total value of $65,781.30. Following the transaction, the insider directly owned 57,733 shares in the company, valued at approximately $1,749,309.90. This trade represents a 3.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 229,199 shares of company stock valued at $5,967,423 over the last quarter. Company insiders own 18.94% of the company's stock.

Institutional Trading of Mineralys Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Mineralys Therapeutics by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock worth $271,000 after purchasing an additional 702 shares during the period. Velan Capital Investment Management LP increased its stake in Mineralys Therapeutics by 0.6% in the third quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company's stock valued at $6,659,000 after purchasing an additional 1,000 shares during the period. Royal Bank of Canada increased its stake in Mineralys Therapeutics by 262.3% in the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company's stock valued at $56,000 after purchasing an additional 1,107 shares during the period. The Manufacturers Life Insurance Company increased its stake in Mineralys Therapeutics by 9.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 16,181 shares of the company's stock valued at $587,000 after purchasing an additional 1,415 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Mineralys Therapeutics by 1.8% in the fourth quarter. Swiss National Bank now owns 90,100 shares of the company's stock valued at $3,270,000 after buying an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

About Mineralys Therapeutics

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.

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