Mineralys Stock Drops Before Open After $150 Million Sale Tests Blood-Pressure Drug Bet
Mineralys Therapeutics shares dropped 8.7% premarket after the company priced a $150 million stock offering at $26.50 a share to fund a $200 million royalty buyout with Tanabe Pharma. The company also secured a five-year, $500 million term loan from Pharmakon Advisors. Lorundrostat, its lead hypertension drug, is under FDA review with a decision expected by December 2026. AstraZeneca’s rival drug Baxfendy was approved in May.