Mineralys Therapeutics Reports $42.2 Million Net Loss and Advances Clinical Trials for Lorundrostat

Mineralys Therapeutics, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2025. The company recorded a net loss of $42.2 million, an increase from a loss of $31.5 million during the same period in 2024. This resulted in a net loss per share of $0.79, compared to $0.70 in the prior year. The increase in losses was primarily attributed to higher research and development expenses, which rose by $7.1 million to $37.9 million, driven by increased clinical trial costs and personnel expenses.

The company’s total operating expenses for the quarter were $44.4 million, up from $35.4 million in the previous year. General and administrative expenses also increased by $2.0 million, reflecting higher compensation and professional fees. Despite these losses, Mineralys Therapeutics saw a substantial increase in cash and cash equivalents, which rose to $165.0 million from $114.1 million at the end of 2024. The company also reported investments totaling $178.0 million, bringing total liquid assets to $343.0 million.

Strategically, Mineralys Therapeutics has made significant strides in its clinical programs, particularly with its lead product candidate, lorundrostat. The company announced successful results from its pivotal trials, Launch-HTN and Advance-HTN, which evaluated lorundrostat for the treatment of uncontrolled hypertension. These trials achieved statistically significant primary efficacy endpoints, and the company plans to meet with the FDA in the fourth quarter of 2025 to discuss a New Drug Application (NDA) for lorundrostat.

In terms of operational metrics, the company has expanded its employee headcount to support its growing clinical and administrative needs. As of March 31, 2025, the company had 64.9 million shares outstanding, reflecting a significant increase from 49.8 million shares at the end of 2024, following a public offering that generated approximately $188.7 million in net proceeds. This funding is earmarked for ongoing clinical development and general corporate purposes.

Looking ahead, Mineralys Therapeutics anticipates continued operating losses as it advances its clinical trials and seeks regulatory approval for lorundrostat. The company expects to finance its operations through equity offerings and other capital sources, emphasizing the need for additional funding to support its research and development activities. The management remains optimistic about the potential of lorundrostat to address unmet medical needs in hypertension and related conditions, while also acknowledging the inherent risks and uncertainties associated with clinical development and market entry.