Mineralys Therapeutics reported a net loss of $48.9 million for the fourth quarter ended December 31, 2024, and a full-year net loss of $177.8 million for 2024. This compares to a net loss of $24.4 million for Q4 2023 and $71.9 million for full-year 2023, reflecting increased investment in clinical development.
Research and Development (R&D) expenses for the full year 2024 significantly increased to $168.6 million from $70.4 million in 2023, primarily driven by the initiation and progression of the lorundrostat pivotal program. The company's cash, cash equivalents, and investments stood at $198.2 million as of December 31, 2024, which is expected to fund operations through the first quarter of 2026.
The company provided key clinical updates, anticipating topline data from the pivotal Advance-HTN trial in March 2025 and the Launch-HTN trial in mid-first half of 2025. Mineralys also announced the completion of enrollment in the Explore-CKD Phase 2 trial, with topline data expected in Q2 2025, and the initiation of a Phase 2 trial to evaluate lorundrostat for obstructive sleep apnea (OSA) and hypertension.
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