** Shares of Mineralys Therapeutics MLYS.O down 0.5% at $14.89 early Tues as co looks to raise equity after its stock soared in previous session
** MLYS shares on Mon hit two-year high, before ending session up 42% at $14.96, after its blood pressure drug, lorundrostat, met main goals in mid- and late-stage trials
** After the bell, co commenced $250 mln stock offering to fund development of lorundrostat, as well as working capital, general purposes
** BofA, Evercore, Goldman Sachs, Stifel and Wells Fargo are jt bookrunners
** The Radnor, Pennsylvania-based firm has ~49.8 mln shares outstanding for ~$745 mln market cap
** All 7 analysts covering MLYS are bullish with $33 median PT, LSEG data shows
** Co went public in Feb 2023 IPO priced at $16
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
(( lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.