Mineralys Therapeutics Soars After Upsizing Offering to $250 Million
Shares surge as the biopharma company boosts its capital raise to fund the development of its lead hypertension drug, lorundrostat, signaling strong investor confidence.
Shares of Mineralys Therapeutics, Inc. (Nasdaq: MLYS) experienced a significant surge after the clinical-stage biopharmaceutical company announced the pricing of an upsized $250.0 million public offering. The move was met with strong investor enthusiasm, signaling confidence in the company's strategy and its lead product candidate for treating hypertension.
In a formal announcement, Mineralys detailed the terms of the of 9,803,921 shares of its common stock priced at $25.50 per share. The offering was increased from an initially planned $200.0 million, reflecting robust demand. The gross proceeds are expected to be approximately $250.0 million before deductions, with an option for underwriters to purchase an additional 1,470,588 shares.
The capital injection is earmarked for critical growth initiatives. According to the company, the net proceeds will be used to , its proprietary aldosterone synthase inhibitor. The funding will support ongoing research, development, manufacturing, and pre-commercialization activities for the drug, which targets hypertension and related conditions like chronic kidney disease.
This successful capital raise is a crucial step for Mineralys, providing a substantial financial runway to advance its pipeline. The offering is being managed by a syndicate of prominent financial institutions, with BofA Securities, Evercore ISI, Goldman Sachs & Co. LLC, Stifel, and Wells Fargo Securities acting as joint book-running managers. The offering is expected to close on or about September 4, 2025, subject to customary closing conditions.
As detailed in its , the securities are offered pursuant to a shelf registration statement. This strategic financing positions Mineralys to accelerate its mission of developing new treatments for hypertension and other diseases driven by dysregulated aldosterone, a field with significant unmet medical needs.