04:14 AM EDT, 09/03/2025 (MT Newswires) -- Mineralys Therapeutics ( MLYS ) said late Tuesday it priced an underwritten public offering of 9.8 million common shares at $25.50 per share for total expected gross proceeds of about $250 million.

The underwriters have been granted a 30-day option to purchase up to 1.5 million additional shares.

Net proceeds will be used to fund clinical activities, working capital and general corporate purposes, the company said.

The offering, which has been upsized from $175 million, is expected to close on or about Sept. 4, subject to customary closing conditions.