05:53 PM EDT, 03/10/2025 (MT Newswires) -- Mineralys Therapeutics ( MLYS ) said Monday it started a $250 million underwritten public offering of shares.

Underwriters in the offering will have a 30-day option to buy up to an additional $37.5 million shares, according to the company.

Proceeds from the offering will be used for clinical development of lorundrostat as well as working capital and general corporate purposes, Mineralys added.

Shares of Mineralys Therapeutics ( MLYS ) were up more than 1% in after-hours trading.