Mineralys therapeutics CFO Adam Levy sells $97,863 in inventory

Adam Scott Levy, the Chief Monetary Officer and Secretary of Mineralys Therapeutics, Inc. (NASDAQ:MLYS), a clinical-stage biotech firm with a market capitalization of $454 million, lately executed a sequence of inventory gross sales in response to a submitting with the Securities and Alternate Fee. The inventory has declined over 12% previously week and 33% over six months. On January 13, Levy offered a complete of 10,757 shares of frequent inventory, producing roughly $97,863. The shares have been offered at costs starting from $9.0927 to $9.63 per share.

Following these transactions, Levy retains possession of 226,097 shares within the firm. The gross sales have been performed beneath a Rule 10b5-1 buying and selling plan that Levy adopted on November 14, 2023.

In different latest information, Mineralys Therapeutics has obtained approval from the U.S. Meals and Drug Administration (FDA) for a Part 2 medical trial of lorundrostat, a drug geared toward treating moderate-to-severe obstructive sleep apnea and hypertension. The trial is ready to start within the first quarter of 2025 with round 40 topics throughout 40 websites. In different developments, Mineralys reported a rise in money and investments to $263.6 million in its Q3 2024 outcomes, regardless of a web lack of $56.3 million because of elevated R&D bills. The corporate’s Advance-HTN and Launch-HTN trials for lorundrostat have accomplished enrollment, with outcomes anticipated in March and mid-2025, respectively. Analysts from InvestingPro keep a robust purchase consensus on the corporate’s inventory. These are latest developments at Mineralys, which is optimistic about upcoming information milestones for lorundrostat anticipated within the first half of 2025. The corporate’s monetary assets are projected to fund operations into 2026.

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