The following is a summary of the Mineralys Therapeutics, Inc. (MLYS) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Mineralys ended 2023 with cash, cash equivalents and investments totaling $239 million, a significant increase from $110.1 million in the previous year.

• R&D expenses witnessed a hike, reaching $70.4 million from $26.3 million in the prior year reflecting the company's increased investment in research activities.

• General and administrative expenses also rose to $14.3 million from $5.2 million last year.

• The company's net loss widened to $71.9 million as compared to $29.8 million last year.

Business Progress:

• Mineralys continues to progress in its clinical trials targeting diseases driven by elevated aldosterone, particularly with their drug lie rendrostat.

• The company's ongoing clinical trials for hypertension, 'Advance-HTN' and 'Launch-HTN', are on track with top-line data expected in Q4 2024, and H2 2025 respectively.

• They have made changes to their 'Explore-CKD' Phase 2 trial which aims to show the benefit of lorundrostat in reducing blood pressure and potential benefits on chronic kidney disease.

• Mineralys successfully raised approximately $120 million via a private placement financing to support their clinical trials and corporate operations till 2026.

• They are prioritizing advancement of their pivotal program for lorundrostat in the upcoming year.

• The addition of Dr. Minji Kim as Chief Business Officer is expected to bolster the management team.

More details: Mineralys Therapeutics IR

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