MLYS

MKT CAP:$2B

Mineralys Therapeutics, Inc.

Market Cap

$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$27.61-$8.10 (-22.68%)

Apr 24, 2026

Company Details

Mineralys Therapeutics, Inc., a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and associated cardiovascular diseases. It clinical-stage product candidate is lorundrostat, a proprietary, o...

CEO

Jon Congleton

IPO Date

Feb 10, 2023

Website

mineralystx.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$155M

EPS (Diluted)

-$2.37

Free Cash Flow

-$142M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 11, 2026

PENDING

FY 2025

Mar 12, 2026

$0EPS -$2.29

Q4 2025

Mar 12, 2026

$0EPS -$0.40

Q3 2025

Nov 10, 2025

$0EPS -$0.52

Q2 2025

Aug 12, 2025

$0EPS -$0.66

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$8M
Q2 22	$0	$0	-$6M
Q3 22	$0	$0	-$7M
Q4 22	$0	$0	-$10M
Q1 23	$0	$0	-$15M
Q2 23	$0	$0	-$16M
Q3 23	$0	$0	-$26M
Q4 23	$0	$0	-$28M
Q1 24	$0	-$8.0K	-$35M
Q2 24	$0	$0	-$45M
Q3 24	$0	$0	-$60M
Q4 24	$0	$0	-$52M
Q1 25	$0	$0	-$44M
Q2 25	$0	$0	-$47M
Q3 25	$0	-$15.0K	-$41M
Q4 25	$0	-$13.0K	-$38M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$7M	-$7M
Q2 22	-$5M	-$5M
Q3 22	-$7M	-$7M
Q4 22	-$10M	-$10M
Q1 23	-$13M	-$13M
Q2 23	-$20M	-$20M
Q3 23	-$19M	-$19M
Q4 23	-$29M	-$29M
Q1 24	-$19M	-$19M
Q2 24	-$30M	-$30M
Q3 24	-$50M	-$50M
Q4 24	-$67M	-$67M
Q1 25	-$45M	-$45M
Q2 25	-$30M	-$30M
Q3 25	-$29M	-$29M
Q4 25	-$38M	-$38M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$59.0K
Q2 24	$0
Q3 24	$37.0K
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$15.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	—	+41.3%
Q1 23	—	+97.4%
Q2 23	—	+142.9%
Q3 23	—	+253.9%
Q4 23	—	+176.9%
Q1 24	—	+136.7%
Q2 24	—	+187.1%
Q3 24	—	+128.8%
Q4 24	—	+86.8%
Q1 25	—	+25.7%
Q2 25	—	+3.5%
Q3 25	—	-31.6%
Q4 25	—	-26.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$19.0K	—
Q2 22	$26.0K	—
Q3 22	$192.0K	—
Q4 22	$218.0K	—
Q1 23	$749.0K	—
Q2 23	$1M	—
Q3 23	$2M	—
Q4 23	$1M	—
Q1 24	$2M	—
Q2 24	$2.9K	—
Q3 24	$3M	—
Q4 24	$3M	—
Q1 25	$4M	—
Q2 25	$5M	—
Q3 25	$6M	—
Q4 25	$5M	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$7M	$791.0K	—
Q2 22	$6M	$884.0K	—
Q3 22	$6M	$1M	—
Q4 22	$8M	$2M	—
Q1 23	$12M	$3M	—
Q2 23	$12M	$4M	—
Q3 23	$22M	$4M	—
Q4 23	$24M	$4M	—
Q1 24	$31M	$5M	—
Q2 24	$39M	$6M	—
Q3 24	$54M	$6M	—
Q4 24	$45M	$7M	—
Q1 25	$38M	$7M	—
Q2 25	$38M	$8M	—
Q3 25	$31M	$10M	—
Q4 25	$24M	—	$14M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$11M	$0	$11M
Q3 22	$49M	$72M	$121M
Q4 22	$88M	$22M	$110M
Q1 23	$138M	$132M	$271M
Q2 23	$101M	$160M	$261M
Q3 23	$86M	$167M	$254M
Q4 23	$49M	$187M	$237M
Q1 24	$90M	$248M	$339M
Q2 24	$68M	$243M	$311M
Q3 24	$97M	$166M	$264M
Q4 24	$114M	$84M	$198M
Q1 25	$165M	$178M	$343M
Q2 25	$102M	$223M	$325M
Q3 25	$218M	$0	$218M
Q4 25	$173M	$484M	$657M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	5M	+1.3%	—
Q2 22	5M	+0.6%	—
Q3 22	5M	+0.6%	—
Q4 22	5M	+0.6%	+3.0%
Q1 23	25M	+375.3%	+383.3%
Q2 23	40M	+60.5%	+671.6%
Q3 23	40M	+0.4%	+670.7%
Q4 23	40M	+0.4%	+669.5%
Q1 24	45M	+12.0%	+81.3%
Q2 24	49M	+9.9%	+24.2%
Q3 24	50M	+0.9%	+24.8%
Q4 24	50M	+0.3%	+24.6%
Q1 25	53M	+6.4%	+18.4%
Q2 25	65M	+23.1%	+32.6%
Q3 25	71M	+7.9%	+41.7%
Q4 25	81M	+14.1%	+61.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$0	12
Q1 23	$0	12
Q2 23	$0	12
Q3 23	$0	12
Q4 23	$0	28
Q1 24	$0	28
Q2 24	$0	28
Q3 24	$0	28
Q4 24	$0	51
Q1 25	$0	51
Q2 25	$0	51
Q3 25	$0	51
Q4 25	$0	76

Revenue / Employee