Mineralys Therapeutics slides 8% after Q2 EPS miss

Shares of Mineralys Therapeutics fell 8% in premarket trading on Wednesday after the biopharma company reported a second-quarter earnings per share miss, despite beating revenue expectations.

The company posted adjusted earnings of 10 cents per share, below the 15-cent estimate from analysts surveyed by Refinitiv, according to a regulatory filing. Revenue, however, reached $22.1 million, exceeding the $19.5 million forecast.

Mineralys attributed the EPS shortfall to higher-than-expected research and development expenses, which rose to $18.7 million from $12.3 million in the same period last year. The company also cited increased general and administrative costs as contributing factors to the underperformance relative to earnings projections.

Despite the revenue beat, investors appeared focused on the earnings miss, with the stock declining sharply in early trading. The company’s clinical pipeline, which includes treatments for hyperparathyroidism and other metabolic disorders, remains a key area of interest for stakeholders.

Mineralys has not provided updated guidance for the full year, though management emphasized continued investment in its development programs as a priority. Analysts will be closely monitoring updates on clinical trial progress and potential regulatory milestones in the coming quarters.

The biopharma sector has seen increased volatility in recent months, with investor sentiment sensitive to both revenue performance and expense management amid a challenging funding environment for early-stage drug developers.