David Malcom Rodman, Chief Medical Officer at Mineralys Therapeutics, Inc. (NASDAQ:MLYS), sold 2,171 shares of the company’s common stock on July 9, 2026. The transaction totaled $65,781, with shares sold at a price of $30.30 each. This sale was conducted under a Rule 10b5-1 trading plan, which Mr. Rodman adopted on October 6, 2025. The sale comes after the stock delivered a remarkable 94% return over the past year, though shares currently trade at $28.36, below the CMO’s sale price. According to InvestingPro analysis, the stock appears overvalued at current levels.
On the same day, prior to the sale, Mr. Rodman acquired 2,171 shares of Mineralys Therapeutics common stock through the exercise of stock options. These shares were acquired at a price of $16.00 per share, amounting to a total value of $34,736. The exercised stock options had a conversion or exercise price of $16.00 and are set to expire on February 9, 2033. The options vested as to 25% of the underlying shares on the first anniversary of the grant date, with the remaining shares vesting in 36 substantially equal monthly installments thereafter.
Following these transactions, Mr. Rodman directly holds 57,733 shares of Mineralys Therapeutics common stock. This balance includes 638 shares purchased under the Mineralys Therapeutics, Inc. 2023 Employee Stock Purchase Plan that had not been previously reported. Additionally, he holds 15,194 derivative shares (stock options). InvestingPro subscribers have access to 8 additional exclusive tips about MLYS, including detailed Pro Research Reports that transform complex data into actionable intelligence for smarter investing decisions.
In other recent news, Mineralys Therapeutics Inc. announced the pricing of a public offering of 5,660,378 shares of common stock at $26.50 per share, expecting to raise approximately $150 million in gross proceeds. Additionally, the company secured up to $750 million through a combination of debt, equity, and a royalty deal aimed at repurchasing royalty obligations and strengthening its balance sheet. As part of this transaction, Mineralys will pay Tanabe Pharma Corporation $200 million upfront, with potential additional payments based on commercial milestones, to eliminate future royalty payments related to lorundrostat.
Jefferies reiterated a Hold rating on Mineralys stock, setting a price target of $30.00, amid speculation of potential acquisition during the FDA review of the company’s new drug application. Meanwhile, H.C. Wainwright maintained a Buy rating with a $56.00 price target, highlighting the company’s presentation of post hoc analysis from the Launch-HTN trial at a European conference. Mineralys also presented clinical data for lorundrostat, showing its evaluation in participants with uncontrolled or resistant hypertension, including those with chronic kidney disease. These developments reflect ongoing strategic and clinical progress within the company.
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