Mineralys Therapeutics, Inc. ( (MLYS) ) has released its Q3 earnings. Here is a breakdown of the information Mineralys Therapeutics, Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Mineralys Therapeutics, Inc. is a clinical-stage biopharmaceutical company focusing on developing treatments for hypertension, chronic kidney disease, and related conditions driven by dysregulated aldosterone.
In its third-quarter 2024 earnings report, Mineralys Therapeutics highlighted key advancements in its clinical trials and financial performance. Notably, the company completed enrollment for two pivotal trials ahead of schedule and anticipates delivering topline data in the first half of 2025.
Financially, Mineralys reported a net loss of $56.3 million for the third quarter of 2024, compared to $22.8 million in the same period last year. This increase in net loss primarily stems from a significant rise in research and development expenses, which rose to $54 million due to the progression of their lorundrostat pivotal program. The company’s cash reserves stand at $263.6 million, which are expected to fund operations into 2026.
Strategically, Mineralys is making significant progress with its Advance-HTN and Launch-HTN trials for lorundrostat, a novel treatment for uncontrolled and resistant hypertension. These trials, set to provide crucial data in 2025, could pave the way for a new drug application to the FDA if results are favorable.
Looking ahead, Mineralys Therapeutics is poised to continue its momentum into 2025 with a focus on delivering pivotal trial results and advancing its pipeline of treatments targeting critical health conditions such as hypertension and chronic kidney disease.
