Mineralys Therapeutics Mineralys, another clinical-stage biopharmaceutical, is Goldman's second pick. Mineralys targets aldosterone, a hormone that can induce significant hypertension. Hypertension usually results from potassium and salt levels out of balance, which aldosterone controls. About 25% of hypertensives have high aldosterone.
Mineralys could tap a vast market. 122 million Americans over 20 have high blood pressure, with or without therapy.
Uncontrolled hypertension and its effects on the heart and kidneys cost the economy a lot in unnecessary health care and lost work time. Mineralys has pushed lorundrostat, a new medication candidate, into clinical trials to meet this medical need.
The Launch-HTN study, a key Phase 3 lorundrostat experiment, began recently. This drug's second pivotal trial focuses on uHTN/rHTN patients. The trial, started in 4Q23, examines adding the medicine to patients' blood pressure treatment.
Advance-HTN, the first of two crucial trials, is also doing well. Mineralys is testing lorundrostat as an add-on therapy to an AHA guidelines-based standardized background treatment regimen of two or three antihypertensive medicines.
Mineralys anticipates releasing Advance-HTN topline results in 4Q24 and Launch-HTN data in 2H25. After reviewing its Phase 2 results and the hypertension treatment market's monetary potential, analyst Richard Law remains optimistic about this business.
Spironolactone is the SOC for resistant HTN, however its gynecomastia and hyperkalemia symptoms leave a gap. Lorundrostat is already reducing SBP by ~10 mmHg compared to placebo in Ph. 2. Obese patients experienced a greater ~17 mmHg decrease. We believe this efficacy can be best-in-class, and MLYS's 3/4L tailored approach for obesity-related HTN might treat 7-8M US patients.
We predict peak sales of lorundrostat at ~$2.8B WW non-risk-adjusted or ~$1.1B risk-adjusted in 2040. Law said MLYS may have best-in-class efficacy in a huge obesity-related HTN market, inspiring a Buy recommendation. Law rates MLYS Buy and sets a $30 price target for a 138% one-year gain.
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