Mineralys Therapeutics CFO Adam Levy sold $97,863 worth of stock Via Investing.com

Adam Scott Levy, Chief Financial Officer and Secretary of Mineralys Therapeutics, Inc. (NASDAQ: MLYS), a well-established biotech company with a market capitalization of $454 million, recently completed a series of stock sales in accordance with a filing with the Securities and Exchange Commission. and Exchange Commission. The price is down more than 12% in the last week and 33% in six months. On January 13th, Levy sold a total of 10,757 shares of common stock, generating approximately $97,863. Shares were traded at a price ranging from $9.0927 to $9.63 per share.

After these transactions, Levy still owns 226,097 shares of the company’s stock. The sales were made under a Rule 10b5-1 business plan that Levy adopted on November 14, 2023.

In other recent news, Mineralys Therapeutics has received approval from the US Food and Drug Administration (FDA) for a Phase 2 clinical trial of lorundrostat, a drug intended to treat obstructive sleep apnea. moderate to severe and high blood pressure. The trial is set to begin in the first quarter of 2025 with approximately 40 studies in 40 locations. In other developments, Mineralys reported an increase in revenue and investment to $263.6 million in its Q3 2024 results, despite a loss that a total of $56.3 million due to additional R&D expenses. The company’s Advance-HTN and Launch-HTN trials for lorundrostat have completed enrollment, with results expected in March and mid-2025, respectively. InvestingPro analysts maintain a strong buy rating on the company’s stock. These are the latest updates from Mineralys, which is optimistic about the upcoming data milestones for lorundrostat expected in the first half of 2025. The company’s financials are expected to support operations in the year of 2026.

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