Mineralys Therapeutics, Inc. (MLYS) Form 8-K — Aug 11, 2026
Mineralys Therapeutics reported a second-quarter 2026 net loss of $241.1 million, up sharply from $43.3 million a year earlier, driven primarily by a $200.0 million upfront payment to Tanabe to eliminate royalty obligations on lorundrostat. The company ended the quarter with $661.4 million in cash, cash equivalents and investments, which it believes funds planned operations, including the lorundrostat commercial launch, into 2028. The Board appointed James J. "Terry" Ferguson III, M.D., as Chief Medical Officer effective August 10, 2026, succeeding David Rodman, M.D., who remains with the company as a full-time Strategic Advisor.
Key figures
- Guidance
- Cash, cash equivalents and investments sufficient to fund planned operations, including the commercial launch of lorundrostat, into 2028
- Total Debt
- 97617000
- Debt Amount
- $500.0 million senior secured term loan facility from Pharmakon Advisors funds; initial $100.0 million tranche drawn June 2026
- Cash Position
- 661400000
- Gross Proceeds
- 150000000
- Shares Offered
- 5660378
- Cash dec 31 2025
- $656.6 million
- Q2 2026 net loss
- $241.1 million (vs. $43.3 million Q2 2025)
- Pdufa target date
- December 22, 2026
- Q2 2026 ga expense
- $24.7 million (vs. $8.5 million Q2 2025)
- Q2 2026 rd expense
- $221.4 million (vs. $38.3 million Q2 2025), driven by $200.0 million Tanabe upfront payment
- Six month net loss
- $280.4 million (vs. $85.5 million prior-year period)
- Tanabe new milestones
- up to $100.0 million in the aggregate
- Tanabe upfront payment
- $200.0 million
- Total stockholders equity
- $550.9 million
- Weighted avg shares q2 2025
- 65451297
- Weighted avg shares q2 2026
- 84727282
- Tanabe remaining milestone obligations
- up to $255.0 million in the aggregate plus up to $10.0 million for a potential second indication
Price after filing
Close on the filing date to close N calendar days later (from $27.35). Historical, not a forecast.
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