Fund Discloses Increased Mineralys Bet Amid 200% Stock Run as New Drug Application Nears | The Motley Fool

On November 14, New York City-based Suvretta Capital Management disclosed a buy of 387,641 shares of Mineralys Therapeutics ( MLYS 1.97%) that contributed to an overall position increase of about $57.25 million. What Happened Suvretta Capital Management, a U.S.-based investment adviser, reported in a November 14 SEC filing that it increased its stake in Mineralys Therapeutics ( MLYS 1.97%) during the third quarter. The fund acquired 387,641 additional shares, bringing total holdings to 2.13 million shares worth $80.85 million as of September 30. The fund reported 93 total positions for the quarter. What Else to Know This buy brings the fund’s MLYS stake to 2.07% of 13F AUM after the third-quarter increase. Top holdings after the filing: NASDAQ:ARQT: $197.51 million (5.99% of AUM) NASDAQ:BNTC: $138.57 million (4.20% of AUM) NASDAQ:META: $125.56 million (3.81% of AUM) NASDAQ:LEGN: $124.51 million (3.77% of AUM) NASDAQ:ETNB: $121.72 million (3.69% of AUM) As of Tuesday, shares were priced at $36.96, up a staggering 206% and well outperforming the S&P 500, which is up 15% in the same period. Company Overview Metric Value Price (as of Tuesday) $36.96 Market Capitalization $2.93 billion Net Income (TTM) ($171.36 million) One-Year Price Change 206% Company Snapshot Mineralys Therapeutics' lead product is lorundrostat, an orally administered, highly selective aldosterone synthase inhibitor targeting uncontrolled or resistant hypertension. The company operates a clinical-stage biopharmaceutical model, generating value through the research, development, and potential commercialization of proprietary therapies for cardiovascular diseases. Primary customers are expected to include healthcare providers and patients suffering from hypertension, particularly those with limited treatment options. Mineralys Therapeutics is a clinical-stage biotechnology company focused on developing innovative therapies for hypertension and related cardiovascular conditions. The company's strategic emphasis on lorundrostat positions it to address significant unmet needs in resistant hypertension. With a specialized approach and a proprietary drug candidate, Mineralys aims to establish a competitive edge in the cardiovascular therapeutics market. Foolish Take It’s a pivotal moment for Mineralys, which is no longer a concept-stage biotech living quarter to quarter. After completing enrollment in its Phase 2 Explore-OSA trial and signaling plans to submit a New Drug Application for lorundrostat by early 2026, the company is clearly pivoting from clinical execution to regulatory positioning. That shift is backed by a balance sheet that now looks strong for a company without an approved product. As of the third quarter, Mineralys reported $593.6 million in cash, cash equivalents, and investments following a $287.5 million equity raise in September. Management expects that war chest to fund operations into 2028, reducing near-term dilution risk even as losses continue. The latest quarter showed a net loss of $36.9 million, but that figure was down sharply from a year earlier as R&D spending declined following the completion of pivotal trials. In the context of the broader portfolio, this is clearly not a reckless momentum chase. At just over 2% of reported assets, the position sits alongside other biotech names where upside depends on regulatory outcomes rather than market beta. One important thing for investors to...

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