Mineralys Therapeutics (NASDAQ:MLYS) Issues Quarterly Earnings Results

Mineralys Therapeutics (NASDAQ:MLYS) posted its quarterly earnings data on Tuesday. The company reported ($2.85) earnings per share 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

NASDAQ:MLYS traded down $0.05 during mid-day trading on Tuesday, reaching $27.33. The stock had a trading volume of 668,963 shares, compared to its average volume of 1,290,093. Mineralys Therapeutics has a twelve month low of $12.59 and a twelve month high of $47.65. The business has a 50 day simple moving average of $26.41 and a 200 day simple moving average of $27.68. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -13.33 and a beta of 0.68.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO Jon Congleton sold 75,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the completion of the transaction, the chief executive officer directly owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. This represents a 10.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 14,056 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $28.58, for a total value of $401,720.48. Following the completion of the sale, the insider directly owned 63,443 shares of the company’s stock, valued at $1,813,200.94. This represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 229,199 shares of company stock worth $5,967,423. Company insiders own 18.94% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after purchasing an additional 1,107 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Mineralys Therapeutics by 14,091.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after purchasing an additional 3,241 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Mineralys Therapeutics by 29.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,775 shares of the company’s stock valued at $200,000 after purchasing an additional 3,390 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at about $216,000. Finally, Federated Hermes Inc. increased its holdings in shares of Mineralys Therapeutics by 38.3% in the 2nd quarter. Federated Hermes Inc. now owns 16,528 shares of the company’s stock valued at $224,000 after purchasing an additional 4,577 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.