Andranik Hakobyan
The developer of the hypertension drug Mineralys Therapeutics (MLYS) has filed for a $100 million initial public offering.
The biotech company did not specify in its profile price or number of shares to be offered, but specified in its profile tariff that it is looking for $100 million, a number that has a placeholder capacity and is subject to change.
Mineralys hopes to list its shares on Nasdaq under the symbol MLYS. Booksellers include BofA Securities, Evercore ISI, Stifel, Guggenheim Securities, Credit Suisse and Wells Fargo Securities.
Based in Radnor, Penn., Mineralys is working on drugs to treat conditions caused by abnormal aldosterone levels. Its main product, lorundrostat, is in a Phase 2 trial for uncontrolled hypertension and a Phase 1 trial for chronic kidney disease.
Mineralys is the second biotech company to file for an IPO this week, along with oral herpes developer Squarex Pharmaceuticals (SQRX). filed to raise $15 million.
