Rodman David Malcom, Chief Medical (TASE:PMCN) Officer of Mineralys Therapeutics, Inc. (NASDAQ:MLYS), recently sold shares in the company, according to a recent SEC filing. On November 6, Malcom sold 25,482 shares of common stock at a weighted-average price of $15.0328 per share, totaling approximately $383,065. This transaction was conducted under a pre-established Rule 10b5-1 trading plan.
In addition to the sale, Malcom also exercised stock options to acquire 25,482 shares at a price of $1.08 per share, which added a total value of $27,520 to his holdings. Following these transactions, Malcom now holds 135,974 shares of Mineralys Therapeutics directly.
In other recent news, Mineralys Therapeutics has reported substantial progress in Q2 2024, particularly in the development of lorundrostat, a leading candidate for hypertension treatment. The company's recent earnings call highlighted the advancement of their clinical trials, including Advance-HTN and Explore-CKD. Top-line data from these ongoing trials are expected between the first quarter of 2025 and the second half of 2025.
Mineralys Therapeutics is nearing the completion of enrollment for the Advance-HTN trial, with results anticipated in early 2025. The company has also reported that the Launch-HTN trial is progressing faster than anticipated, with results expected in the latter half of 2025. Financially, Mineralys Therapeutics is well-positioned, boasting $311.1 million in cash, cash equivalents, and investments as of June 30, 2024.
In terms of safety considerations, the company is contemplating a lower 25 mg dose in the Explore-CKD study to mitigate the risk of hyperkalemia. Despite these potential safety considerations, enrollment in clinical trials is progressing well, with protocol amendments enhancing the enrollment rates. According to the company, their current financial resources are projected to support their clinical trials and operations until 2026. These are the recent developments in Mineralys Therapeutics.
InvestingPro Insights
As Rodman David Malcom, Chief Medical Officer of Mineralys Therapeutics, Inc. (NASDAQ:MLYS), adjusts his stake in the company, investors may find additional context in recent financial data and analyst perspectives.
According to InvestingPro data, Mineralys Therapeutics has a market capitalization of $704.13 million USD. The company's stock has shown strong performance, with a 73.53% price total return over the past year and a 26.77% return in the last three months. This aligns with an InvestingPro Tip highlighting the company's "Strong return over the last three months."
However, it's important to note that Mineralys Therapeutics is currently not profitable. The company reported an adjusted operating income of -$134.51 million USD for the last twelve months as of Q2 2024. This is reflected in an InvestingPro Tip stating that "Analysts do not anticipate the company will be profitable this year."
Despite the recent insider sale, Mineralys Therapeutics maintains a solid financial position. An InvestingPro Tip indicates that the company "Holds more cash than debt on its balance sheet" and "Liquid assets exceed short term obligations," which could provide some reassurance to investors concerned about the company's financial stability.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Mineralys Therapeutics, providing a deeper understanding of the company's financial health and market position.
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