RADNOR, PA — Mineralys Therapeutics Inc. (Nasdaq: MLYS) said it granted stock options and restricted stock units to a new non-executive employee on March 16 as an inducement to join the company, in accordance with Nasdaq rules.
The company said the awards were approved by the compensation committee of its board of directors and issued under its 2025 Employment Inducement Incentive Award Plan.
The inducement package includes stock options covering 27,920 shares of common stock and restricted stock units covering 20,940 shares.
Mineralys said the stock options will vest over four years, with 25% of the shares vesting on March 16, 2027, and the remaining shares vesting in equal monthly installments over the following three years, subject to continued service.
The restricted stock units will vest over the same four-year period, with 25% of the shares vesting annually on each anniversary of March 16, 2026, the vesting commencement date.
The company said the awards were granted as a material inducement to the employee’s acceptance of employment and comply with Nasdaq Listing Rule 5635(c)(4), which permits such awards outside of shareholder-approved equity plans.
Mineralys Therapeutics, based in Radnor, Pennsylvania, is a clinical-stage biopharmaceutical company focused on developing treatments for hypertension and related conditions driven by excess aldosterone.
Its lead drug candidate, lorundrostat, is an oral aldosterone synthase inhibitor designed to reduce aldosterone levels and is under regulatory review in the United States for the treatment of uncontrolled or resistant hypertension.
The company has completed multiple clinical trials evaluating lorundrostat in hypertension and related conditions, including chronic kidney disease and obstructive sleep apnea.
Mineralys reported $656.6 million in cash and equivalents as of the end of 2025 and said it expects that funding to support operations into 2028.
The U.S. Food and Drug Administration has set a target action date of December 22, 2026, for its review of lorundrostat.
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