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Mineralys Therapeutics Priced, Nasdaq: MLYS

Phase 2 biotech developing an in-licensed therapy for cardiorenal disorders.

Industry: Health Care

Latest Trade: $16.02 +0.14 (+0.9%)

First Day Return: +15.3%

Return from IPO: -0.7%

Industry: Health Care

We are a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Our product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor (ASI) that we are initially developing for the treatment of patients with uncontrolled hypertension (uHTN). In a Phase 2 clinical trial evaluating 200 subjects with uHTN and rHTN (Target-HTN), lorundrostat demonstrated a clinically meaningful and statistically significant reduction in BP with once-daily dosing and was well tolerated. In addition to hypertension, we intend to develop lorundrostat for the treatment of chronic kidney disease (CKD) and believe that our product candidate holds promise to be an innovative solution for the rapidly growing unmet need in multiple cardiorenal disorders. Our product candidate, lorundrostat, is a proprietary, orally administered, highly selective ASI that is designed to reduce aldosterone levels by inhibiting CYP11B2, the enzyme responsible for producing the hormone. We licensed lorundrostat from Mitsubishi Tanabe Pharmaceutical Company (Mitsubishi Tanabe), who discovered the compound and provided the early foundational work, including demonstrating the selectivity of lorundrostat, and progressing the asset through Phase 1 clinical development.
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IPO Data
IPO File Date 01/18/2023
Offer Price $16.00
Price Range $14.00 - $16.00
Offer Shares (mm) 12.0
Deal Size ($mm) $192
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 02/09/2023
Offer Price $16.00
Price Range $14.00 - $16.00
Offer Shares (mm) 12.0
Deal Size ($mm) $192
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
BofA Securities
Evercore ISI
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Company Data
Headquarters Radnor, PA, United States
Founded 2019
Employees 12
Website www.mineralystx.com

Mineralys Therapeutics (MLYS) Performance