Mineralys reports Q2 2026 results, names new CMO ahead of lorundrostat PDUFA date

Mineralys Therapeutics announced second quarter 2026 financial results and a corporate update on August 11, 2026. The company said the FDA is still reviewing the new drug application for lorundrostat as a treatment for hypertension used alongside other antihypertensive drugs, with a target decision date of December 22, 2026.¹

The company also announced a leadership change. James J. "Terry" Ferguson III, M.D. was appointed Chief Medical Officer effective August 10, 2026, taking over from David Rodman, M.D., who will remain with the company full time as a Strategic Advisor.¹ Ferguson's background includes more than 35 years in cardiovascular medicine and drug development, with prior roles leading Amgen's cardiovascular therapeutic area, nearly ten years in cardiovascular leadership positions at AstraZeneca and The Medicines Company, and over two decades on the faculty at the Texas Heart Institute.¹ He most recently served as Chief Medical Officer at Cadrenal Therapeutics.¹

On financing, Mineralys reported it completed a follow-on public offering of 5,660,378 shares of common stock, raising gross proceeds of about $150.0 million.¹ Separately, the company arranged a senior secured loan of up to $500.0 million with lender Pharmakon Advisors, LP, drawing an initial $100.0 million portion in June 2026.¹ Mineralys also amended its license agreement with Tanabe to remove ongoing royalty payments, paying Tanabe $200.0 million upfront and agreeing to up to $100.0 million more in commercial milestone payments.¹

Financially, cash, cash equivalents and investments totaled $661.4 million as of June 30, 2026, versus $656.6 million at the end of 2025.¹ Net loss for the quarter was $241.1 million, compared with $43.3 million in the same period last year.¹