Mineralys Therapeutics: Strong Buy on Upcoming ADVANCE Trial Results and Robust Financial Health

In a report released yesterday, Mohit Bansal from Wells Fargo assigned a Buy rating on Mineralys Therapeutics, Inc. (MLYS – Research Report), with a price target of $26.00.

Mohit Bansal has given his Buy rating due to a combination of factors regarding Mineralys Therapeutics, Inc.’s upcoming clinical trial results and financial position. He highlights the anticipated data from the ADVANCE trial in the fourth quarter as a significant catalyst for the stock. The importance of the ADVANCE trial lies in its potential to satisfy the FDA’s requirement for two well-controlled studies for approval, despite its smaller size and different design compared to the LAUNCH trial and previous Phase 2 trials. Furthermore, the fact that AstraZeneca has initiated a similar trial adds to the credibility of MLYS’s trial design.
Bansal also considers the potential impact of the ADVANCE trial on the LAUNCH trial and the broader market positioning as a third-line treatment agent. He looks for outcomes such as a greater than 8mmHg placebo-adjusted reduction in systolic blood pressure, particularly in the obesity subgroup, and a favorable safety profile. Additionally, the Chronic Kidney Disease (CKD) Phase 2 trial data is expected to contribute to the hypertension (HTN) labeling and demonstrate broader applicability of the treatment. Financially, the company’s current cash position, bolstered by recent private financing, is seen as adequate to fund clinical programs into 2026, which mitigates near-term financial risk and supports the positive outlook.

According to TipRanks, Bansal is a 4-star analyst with an average return of 7.8% and a 58.96% success rate. Bansal covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Amgen, and Bristol-Myers Squibb.

In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $33.00 price target.

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Mineralys Therapeutics, Inc. (MLYS) Company Description:

Mineralys Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. The company’s product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor, that is initially developed for the treatment of patients with uncontrolled hypertension, defined as individuals who are unable to achieve BP of below 130/80 mmHg despite taking two or more lines of antihypertensive medication or resistant hypertension, defined as individuals who are unable to achieve BP of below 130/80 mmHg despite taking three or more antihypertensive medications typically including a diuretic.