Latham & Watkins Advises Mineralys Therapeutics on US$175 Million Underwritten Public Offering of Common Stock

Mineralys Therapeutics, Inc. (Nasdaq: MLYS), a clinical-stage biopharmaceutical company focused on developing medicines to target hypertension, chronic kidney disease (CKD), obstructive sleep apnea (OSA), and other diseases driven by dysregulated aldosterone, has announced the pricing of an underwritten public offering of 12,962,962 shares of its common stock at a public offering price of US$13.50 per share. The aggregate gross proceeds to Mineralys from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately US$175 million. In addition, Mineralys has granted the underwriters a 30-day option to purchase up to an additional 1,944,444 shares of its common stock. All of the securities to be sold in the offering are to be sold by Mineralys. The offering is expected to close on or about March 13, 2025, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP is advising Mineralys in the offering with a corporate team led by San Diego partners Cheston Larson and Matt Bush, and counsel Anthony Gostanian, with associates Rachel Staub and Sterling Swift.