Mineralys Therapeutics Inc
MLYSHealthcare|Biotechnology|USA
$28.38
-0.58 (-2.00%)
Tangible Book
$7.74
Financials
Financial Snapshot
Market Cap
$2.50B
Enterprise Value
$646.1M
Revenue (TTM)
$0.00
Net Income (TTM)
$-151.8M
Cash & Equivalents
—
Net Cash/Share
$7.66
Free Cash Flow (TTM)
$-136.4M
Operating CF (TTM)
$-136.4M
Debt/Equity
0
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$34.1M
Monthly Burn
$11.4M
Est. Runway
—
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $1.4M | $10.6M | $110.1M | $236.6M | $198.2M | $656.6M | $646.1M | |
| Operating Cash Flow | $-2.5M | $-14.6M | $-29.2M | $-81.2M | $-166.3M | $-142.4M | $-136.4M | |
| Free Cash Flow | $-2.5M | $-14.6M | $-29.2M | $-81.2M | $-166.4M | $-142.4M | $-136.4M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $0.00 | $-96.0K | $-15.0K | $0.00 | |
| Financing Cash Flow | $3.8M | $23.8M | $128.0M | $203.2M | $116.1M | $591.0M | $426.0M |
R&D Spending
R&D (TTM)
$118.5M
R&D Intensity
—
R&D Growth YoY
-10.2%
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $2.4M | $16.3M | $26.3M | $70.4M | $168.6M | $132.0M | $118.5M | |
| R&D % of Revenue | — | — | — | — | — | — | — | |
| SG&A | $532.0K | $2.4M | $5.2M | $14.3M | $23.8M | $38.6M | $53.0M |
Income Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $2.4M | $16.3M | $26.3M | $70.4M | $168.6M | $132.0M | $118.5M | |
| SG&A | $532.0K | $2.4M | $5.2M | $14.3M | $23.8M | $38.6M | $53.0M | |
| Operating Income | $-2.9M | $-18.7M | $-31.5M | $-84.7M | $-192.4M | $-170.6M | $-171.5M | |
| Interest Expense | $-115.0K | $-27.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-3.4M | $-19.4M | $-29.8M | $-71.9M | $-177.8M | $-154.7M | $-151.8M | |
| Net Income | $-3.4M | $-19.4M | $-29.8M | $-71.9M | $-177.8M | $-154.7M | $-151.8M | |
| EPS (Diluted) | -0.35 | -3.77 | -0.76 | -1.99 | -3.66 | -2.29 | -2.05 | |
| EBITDA | $-3.3M | $-19.4M | $-31.5M | $-84.7M | $-192.4M | $-170.5M | $-171.4M | |
| Shares Out. (M) | 9.91 | 5.15 | 39.06 | 36.19 | 48.54 | 67.66 | 82.83 |
Balance Sheet
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.4M | $10.6M | $87.7M | $49.3M | $114.1M | $172.9M | $112.8M | |
| Marketable Securities | $0.00 | $0.00 | $22.4M | $187.3M | $84.1M | $483.7M | $533.3M | |
| Total Current Assets | $1.5M | $11.1M | $112.8M | $249.1M | $205.4M | $661.4M | $652.5M | |
| Total Assets | $1.5M | $11.1M | $114.4M | $251.6M | $205.9M | $661.8M | $652.9M | |
| Total Current Liabilities | $5.1M | $5.1M | $8.1M | $10.5M | $14.6M | $15.1M | $14.7M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $5.1M | $34.0M | $166.7M | $10.5M | $14.6M | $15.1M | $14.7M | |
| Stockholders' Equity | $-3.6M | $-22.9M | $-52.3M | $241.2M | $191.3M | $646.7M | $638.1M | |
| Retained Earnings | $-3.6M | $-23.0M | $-52.8M | $-124.7M | $-302.5M | $-457.2M | $-496.5M |
Cash Flow Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-2.5M | $-14.6M | $-29.2M | $-81.2M | $-166.3M | $-142.4M | $-136.4M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $0.00 | $-96.0K | $-15.0K | $0.00 | |
| Free Cash Flow | $-2.5M | $-14.6M | $-29.2M | $-81.2M | $-166.4M | $-142.4M | $-136.4M | |
| Investing Cash Flow | $0.00 | $0.00 | $-21.8M | $-160.5M | $115.0M | $-389.8M | $-341.8M | |
| Financing Cash Flow | $3.8M | $23.8M | $128.0M | $203.2M | $116.1M | $591.0M | $426.0M | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $203.0M | $116.1M | $578.4M | $409.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $-1.6M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $3.9M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.0K | $80.0K | $455.0K | $5.1M | $11.3M | $19.3M | $22.2M | |
| Net Change in Cash | $1.4M | $9.3M | $77.0M | $-38.4M | $64.8M | $58.8M | $-52.2M |
Dilution Tracker
Shares outstanding grew 1507.5% over 5 years — significant dilution
Shares Outstanding
83M
5-Year Share Growth
+1507.5%
Stock Issuance (TTM)
$409.4M
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 9.91 | 5.15 | 39.06 | 36.19 | 48.54 | 67.66 | 82.83 | |
| YoY Change % | — | -48.0% | 657.9% | -7.3% | 34.1% | 39.4% | 22.4% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $203.0M | $116.1M | $578.4M | $409.4M | |
| Stock Repurchase | $0.00 | $0.00 | $-1.6M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.0K | $80.0K | $455.0K | $5.1M | $11.3M | $19.3M | $22.2M |
Margins & Profitability
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | 0.0% | 0.0% | -76.1% | -82.2% | -36.9% | -30.2% | |
| ROA % | -230.6% | -307.8% | -47.5% | -39.3% | -77.7% | -35.6% | -29.1% | |
| R&D / Revenue | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.41
P/S—
Historical— / — / —
Industry Med.9.51
P/B3.67
Historical— / — / 3.67
Industry Med.2.93
EV/EBITDA-10.82
Historical-10.82 / — / —
Industry Med.13.14
EV/Revenue—
Historical— / — / —
Industry Med.8.71
P/FCF—
Historical— / — / —
Industry Med.27.54
Intrinsic Value Models
Tangible Book
$7.74
Net Current Assets
$7.730
Net-Net Working Capital
$7.66
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | N/A | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 0.00 | 1.47 | 3.21 | 4.58 | 3.67 | |
| EV/EBITDA | 0.00 | 0.00 | 0.00 | -1.38 | -2.16 | -13.50 | -10.82 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
4
Moderate
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $121.36M | $254.69M |
| Net Income | $-187.31M | $-184.39M | $-105.40M |
| EPS | -2.28 | -2.05 | -1.13 |
| Book Value per Share | 0.00 | 0.00 | 0.00 |
| Operating Cash Flow per Share | -2.38 | 1.13 | 0.00 |
| Operating CF | $-197.15M | $93.60M | $0.00M |