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Mineralys Therapeutics reported a wider second-quarter loss, largely driven by a $200 million upfront payment related to its amended agreement with Tanabe Pharma Corp. The company is preparing for the commercial launch of lorundrostat, pending FDA approval, with a target decision date of 22 December. Chief Executive Jon Congleton said the company's priorities included launch readiness and evaluating partnership opportunities. Mineralys also appointed Dr Terry Ferguson as chief medical officer, succeeding Dr David Rodman. During the quarter, the company presented clinical data from its Launch-HTN trial, showing statistically meaningful blood-pressure reductions in patients with chronic kidney disease. Formal label discussions with the FDA are expected in October or November.

Mineralys Therapeutics announces pricing of $150 million underwritten offering of common stock. * 2 hrs ago RADNOR, Pa., June 03, 2026 (GLOBE NEWSWIRE) - Mineralys Therapeutics, Inc. (Nasdaq: MLYS), a biopharmaceutical company focused on developing medicines to target hypertension and related comorbidities such as chronic kidney disease (CKD), obstructive sleep apnea (OSA) and other diseases driven by dysregulated aldosterone, announced today the pricing of an underwritten offering of 5,660,378 shares of its common stock at a price of $26.50 per share. The aggregate gross proceeds to Mineralys from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $150.0 million. All of the securities to be sold in the offering are to be sold by Mineralys. The offering is expected to close on or about June 4, 2026, subject to the satisfaction of customary closing conditions. BofA Securities, Goldman Sachs & Co. LLC and Evercore ISI are acting as joint book-running managers for the offering. Mineralys intends to use the net proceeds from the offering to fund a portion of the $200.0 million upfront payment for the repurchase of the royalty obligation under its license agreement with Tanabe Pharma Corporation. Earlier today, Mineralys announced entering into a $500 million committed debt facility with funds managed by Pharmakon Advisors, LP. Novo Raises Forecast as Wegovy Pill Fuels Sales The securities described above are being offered by Mineralys pursuant to a shelf registration statement that became automatically effective upon filing with the Securities and Exchange Commission (SEC). A prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC. When available, copies of the 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 [email protected]; 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: [email protected]; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at (888) 474-0200, or by email at [email protected]. Electronic copies of the prospectus supplement and accompanying prospectus will also be 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 Mineralys Therapeutics Mineralys Therapeutics is a biopharmaceutical company focused on developing medicines to target hypertension and related comorbidities such as CKD, OSA and other diseases driven by dysregulated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor. Mineralys is based in Radnor, Pennsylvania, and was founded by Catalys Pacific. Forward-Looking Statements Statements 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 completion of the proposed offering and 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 and uncertainties associated with market conditions, the satisfaction of customary closing conditions related to the proposed offering, and the other risks described in Mineralys' filings with the SEC, including under the heading "Risk Factors" in Mineralys' most recent Annual Report on Form 10-K and any subsequent 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. Investor Relations Media Relations Melyssa Weible Elixir Health Public Relations Around the web.

Mineralys Therapeutics has repurchased its royalty obligations to Tanabe Pharma Corporation for lorundrostat, paying $200 million upfront and up to $100 million upon reaching certain commercial milestones. The deal eliminates all future royalty payments under the existing licence agreement. Concurrently, Mineralys secured a $500 million committed senior secured term loan facility from funds managed by Pharmakon Advisors, with $100 million funded at closing. The company also priced a $150 million common stock offering. Following the transaction, Mineralys' aggregate potential future milestone payments to Tanabe will total up to $265 million, including $100 million in new commercial milestones and $165 million in existing ones. Tanabe will also assign its intellectual property rights for lorundrostat to Mineralys.