Mineralys Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 10:13 pm
Share
Mineralys Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 22.76 million compared to USD 6.68 million a year ago. Basic loss per share from continuing operations was USD 0.57 compared to USD 1.29 a year ago.
For the nine months, net loss was USD 47.51 million compared to USD 20.73 million a year ago. Basic loss per share from continuing operations was USD 1.36 compared to USD 4.02 a year ago.
Mineralys Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing medicines to target hypertension, chronic kidney disease (CKD) and other diseases driven by abnormally elevated aldosterone. The Companyâs product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor (ASI) that the Company is initially developing for the treatment of patients with uncontrolled hypertension (uHTN). Lorundrostat is designed to reduce aldosterone levels by inhibiting CYP11B2, the enzyme responsible for producing the hormone. The Company completed the Target-HTN trial, a Phase II proof-of-concept trial for lorundrostat in the treatment of uHTN. In addition to hypertension, the Company intends to develop lorundrostat for the treatment of chronic kidney disease (CKD).