Latham Advises Mineralys Therapeutics on Upsized US$250 Million Underwritten Public Offering of Common Stock

Mineralys Therapeutics, Inc. (Nasdaq: MLYS), a clinical-stage biopharmaceutical company focused on developing medicines to target hypertension and related comorbidities such as chronic kidney disease (CKD), obstructive sleep apnea (OSA), and other diseases driven by dysregulated aldosterone, has announced the pricing of an upsized underwritten public offering of 9,803,921 shares of its common stock at a public offering price of US$25.50 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$250.0 million. In addition, Mineralys has granted the underwriters a 30-day option to purchase up to an additional 1,470,588 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 September 4, 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.