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Mineralys Therapeutics Announces Closing of Underwriters' Option to Purchase Additional Shares in Connection with Public Offering of Common Stock

1. Mineralys closed sale of 1,944,444 shares at $13.50 each. 2. Total proceeds from the offering reached approximately $201.2 million. 3. Funds will support development of lorundrostat and operational activities. 4. Major investment banks managed the offering, enhancing credibility. 5. Forward-looking statements caution about possible risks and uncertainties.

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Why Bullish?

The successful capital raise enhances financial stability and supports R&D for lorundrostat. Historical examples indicate that such offerings often reflect trust in a company's prospects; for instance, similar capital raises by other biotech firms led to stock price increases when followed by successful product developments.

How important is it?

The article details a substantial equity offering to enhance future growth, underscoring MLYS's confidence and strategic direction in exploring lucrative markets that could lead to significant revenue.

Why Long Term?

Proceeds will fund both development and commercialization of new therapies, affecting future revenue streams. Companies that secure significant funding often see long-term benefits as products advance toward market readiness.

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March 18, 2025 16:01 ET  | Source: Mineralys Therapeutics, Inc. RADNOR, Pa., March 18, 2025 (GLOBE NEWSWIRE) -- Mineralys Therapeutics, Inc. (Nasdaq: MLYS), a clinical-stage biopharmaceutical company focused on developing medicines to target hypertension, chronic kidney disease (CKD), obstructive sleep apnea (OSA) and other diseases driven by dysregulated aldosterone, announced today the closing of the sale of an additional 1,944,444 shares of its common stock at a public offering price of $13.50 per share pursuant to the exercise in full of the underwriters’ option to purchase additional shares in connection with Mineralys’ recently completed public offering. After giving effect to the sale of these additional shares, the aggregate gross proceeds to Mineralys from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, were approximately $201.2 million. All of the securities sold in the offering were sold by Mineralys. BofA Securities, Evercore ISI, Goldman Sachs & Co. LLC, Stifel and Wells Fargo Securities acted as joint book-running managers for the offering. LifeSci Capital acted as lead manager and H.C. Wainwright & Co. acted as co-manager for the offering. Mineralys intends to use the net proceeds from the offering to fund clinical development of lorundrostat, including research and development and manufacturing, and pre-commercialization activities, as well as for working capital and general corporate purposes. The securities described above were offered by Mineralys pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: BofA Securities NC1-022-02-25, Attention: Prospectus Department, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email at dg.prospectus_requests@bofa.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, New York 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, via telephone: (866) 471-2526, via fax: 212-902-9316, or via email: prospectus-ny@ny.email.gs.com; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, via telephone at (415) 364-2720 or via email at syndprospectus@stifel.com; or Wells Fargo Securities, LLC, Attention: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, by telephone at 1-800-645-3751, or by email at wfscustomerservice@wellsfargo.com. Electronic copies of the final prospectus supplement and accompanying prospectus are also available on the website of the SEC at http://www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. About MineralysMineralys Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines to target hypertension, CKD, OSA and other diseases driven by dysregulated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor that Mineralys Therapeutics is developing for cardiorenal conditions affected by dysregulated aldosterone, including hypertension, CKD and OSA. Mineralys is based in Radnor, Pennsylvania, and was founded by Catalys Pacific. Forward-Looking StatementsStatements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the anticipated use of proceeds therefrom. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Mineralys’ current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks described in Mineralys’ filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Mineralys undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. CONTACTS Investor Relationsinvestorrelations@mineralystx.com Media RelationsTom WeibleElixir Health Public RelationsPhone: (1) 515-707-9678Email: tweible@elixirhealthpr.com

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