MLYSMineralys Therapeutics, Inc.
Pharmaceutical Preparations
- Revenue
- —
- Operating margin
- —
- EBITDA
- −$171M
- 11% YoY
- Market cap
- $1.6B
- Employees
- —
- Net debt / EBITDA
- —
- −$138M net debt
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentYes61% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.6B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$79M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|
| Operating income | −$31M | −$85M | −$192M | −$171M | 11% |
| Net income | −$30M | −$72M | −$178M | −$155M | 13% |
| Operating cash flow | −$29M | −$81M | −$166M | −$142M | 14% |
| Capex | — | $0 | $96K | $15K | 84% |
| Stock-based comp | $455K | $5M | $11M | $19M | 70% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Sep 8, 2025 | Samsara BioCapital, L.P. | SCHEDULE 13D/A | 16.2% | Passive |
| Sep 8, 2025 | RA CAPITAL MANAGEMENT, L.P. | SCHEDULE 13D/A | 9.9% | Passive |
| Mar 17, 2025 | RA CAPITAL MANAGEMENT, L.P. | SCHEDULE 13D/A | 9.9% | Passive |
| Mar 17, 2025 | Samsara BioCapital, L.P. | SCHEDULE 13D/A | 9.1% | Passive |
| Feb 12, 2024 | RA CAPITAL MANAGEMENT, L.P. | SC 13D/A | 10.0% | Passive |
| Feb 12, 2024 | Samsara BioCapital, L.P. | SC 13D/A | 30.9% | Passive |
| Feb 24, 2023 | RA CAPITAL MANAGEMENT, L.P. | SC 13D | 7.8% | Passive |
| Feb 24, 2023 | Samsara BioCapital, L.P. | SC 13D | 11.1% | Active |
Insider trading
- Open-market buys, 12 mo
- $9M · 2
- Open-market sells, 12 mo
- $88M · 80
- Net
- −$79M
Pay vs performance
No pay-versus-performance disclosure yet.