Mineralys Therapeutics Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update

Mineralys Therapeutics, a clinical-stage biopharmaceutical company focusing on developing medicines for hypertension, chronic kidney disease (CKD), obstructive sleep apnea (OSA), and other conditions related to dysregulated aldosterone, has released its financial results for the fourth quarter and full year ending December 31, 2024, along with a corporate update.

CEO Jon Congleton expressed pride in the team’s work throughout the past year, particularly in advancing lorundrostat. He emphasized the importance of the forthcoming topline data from pivotal programs aimed at treating patients with uncontrolled or resistant hypertension, expressing optimism about the potential positive impact on patients’ lives given the clinical data on dysregulated aldosterone.

Key highlights and upcoming milestones include:

– The anticipated release of topline data from the pivotal Advance-HTN trial in March 2025, evaluating lorundrostat’s efficacy and safety as an add-on therapy for uncontrolled or resistant hypertension.
– Expectations of topline data from the pivotal Phase 3 Launch-HTN trial in mid-first half of 2025, focusing on subjects with uncontrolled or resistant hypertension.
– Enrollment completion in the Explore-CKD Phase 2 trial with expected topline data in Q2 2025.
– Initiation of a Phase 2 trial for assessing lorundrostat in treating patients with moderate-to-severe obstructive sleep apnea (OSA) and hypertension.

Financially, as of December 31, 2024, Mineralys reported cash, cash equivalents, and investments totaling $198.2 million, with the belief that these funds will sustain planned clinical studies and corporate operations through the first quarter of 2026. Research and Development (R&D) expenses for 2024 were $168.6 million, reflecting the implementation of the lorundrostat pivotal program. General and Administrative (G&A) expenses for the same period were $23.8 million.

Net loss for the year ended December 31, 2024, was $177.8 million, compared to $71.9 million for 2023. The increase in net loss was primarily attributed to rises in R&D and G&A expenses.

Mineralys Therapeutics is hosting a conference call at 8:30 a.m. ET on February 12, 2025, to discuss these results and the company’s future plans.

The company’s primary focus is on developing lorundrostat, a selective aldosterone synthase inhibitor with promising results in treating hypertension, CKD, and OSA. Mineralys believes in the potential therapeutic benefits of lorundrostat and is dedicated to advancing its clinical development.

For more information about Mineralys Therapeutics and its work in the biopharmaceutical industry, visit their website.

This release may contain forward-looking statements subject to various risks and uncertainties, as detailed in filings with the Securities and Exchange Commission (SEC). The company cautions against placing undue reliance on these statements, emphasizing the dynamic nature of the industry and the need for ongoing evaluation.

Investors and media can access additional information through Investor Relations at [email protected] and Media Relations contact Tom Weible at Elixir Health Public Relations.

Mineralys Therapeutics, Inc.
Selected Financial Information
Condensed Balance Sheet Data
December 31, 2024:
– Cash, cash equivalents and investments: $198,187 thousand
– Total assets: $205,903 thousand
– Total liabilities: $14,646 thousand
– Total stockholders’ equity: $191,257 thousand

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mineralys Therapeutics’s 8K filing here.

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.