Mineralys Therapeutics reported a net loss of $42.2 million for the first quarter ended March 31, 2025, an increase from $31.5 million for the same period in 2024. Research and Development (R&D) expenses rose to $37.9 million from $30.8 million year-over-year, primarily due to increased preclinical and clinical costs.
The company's cash, cash equivalents, and investments significantly increased to $343.0 million as of March 31, 2025, up from $198.2 million at the end of 2024. This strengthened cash position is expected to fund operations into 2027, providing a substantial runway for development.
Mineralys confirmed positive topline results from its pivotal Launch-HTN and Advance-HTN trials and announced an anticipated pre-NDA meeting with the FDA in the fourth quarter of 2025. The Explore-CKD Phase 2 trial is expected to deliver topline data in Q2 2025, and the Explore-OSA Phase 2 trial was initiated in Q1 2025. Additionally, Eric Warren was appointed as Chief Commercial Officer to solidify commercial and partnering strategies.
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