Minerals Therapeutics, Inc. announced (NASDAQ:MLYS), a biotechnology company with a market cap of $454 million, recently announced that its CEO, John Congleton, sold 18,333 shares of common stock. The transactions took place on January 13, 2025, at a weighted average price of $9.0592 per share, for a total of approximately $166,082. The sales were made under a Rule 10b5-1 trading plan, which Congleton adopted on January 30, 2024. InvestingPro According to the data, the stock fell by about 12% over the past week.
Following these transactions, Congleton retains ownership of 877,608 shares of Mineralys Therapeutics. Shares were sold in multiple transactions, at prices ranging from $8.65 to $9.37. Congleton is committed to providing detailed information on the exact prices of each transaction upon request. InvestingPro The analysis shows that the company maintains a strong liquidity position with a current ratio of 8.55, while analyst price targets range from $26 to $45. For deeper insights into MLYS' financial health and detailed analysis, subscribers can access Pro Research's comprehensive report, available exclusively on InvestingPro.
In other recent news, Mineralys Therapeutics received FDA approval for a phase 2 clinical trial of lorundrostat, a potential treatment for obstructive sleep apnea and moderate-to-severe hypertension. The trial is scheduled to begin in 2025. In financial news, Minerals Therapeutics reported an increase in cash and investments to $263.6 million and a net loss of $56.3 million for the third quarter of 2024, primarily due to higher R&D expenses. Despite the loss, the company's strong cash position is expected to support its operations and clinical trials through 2026. Enrollment in the Advance-HTN and Launch-HTN trials of lurondrostat has been completed, with results expected in 2025. Analysts from InvestingPro maintain a strong consensus of Purchase. on the stock, with price targets ranging from $26 to $45. These are among the latest developments at Minerals Therapeutics.
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