Mineralys Therapeutics, Inc. (MLYS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MLYS SEC filings page.
This page shows Mineralys Therapeutics, Inc. (MLYS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Mineralys is a development-stage business with no reported revenue, where research spending drives losses and financing supplies balance-sheet growth.
In FY2025, operating cash outflow of$142M was close to the net loss of$155M , indicating losses were largely cash-consuming rather than dominated by noncash charges. Both measures improved from FY2024 while R&D also fell, pointing to lower spending as the clearest visible reason for the better result.
The 2025 balance sheet is overwhelmingly equity-funded: total liabilities were
R&D remained the dominant operating investment at
Financial Health Signals
Mineralys Therapeutics, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Mineralys Therapeutics, Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Mineralys Therapeutics, Inc. reported a net loss of $154.7M while operations used $142.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Mineralys Therapeutics, Inc.'s EBITDA was -$246.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 426.5% from the same quarter a year earlier. Against the prior quarter it is down 442.7%.
Mineralys Therapeutics, Inc. reported -$241.1M in net income in Q2 2026. This represents a decrease of 457.1% from the same quarter a year earlier. Against the prior quarter it is down 512.8%.
Mineralys Therapeutics, Inc. earned -$2.85 per diluted share (EPS) in Q2 2026. This represents a decrease of 331.8% from the same quarter a year earlier. Against the prior quarter it is down 506.4%.
Not reported for Q2 2026.
Cash & Balance Sheet
Mineralys Therapeutics, Inc. held $138.3M in cash against $100K in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Mineralys Therapeutics, Inc.'s ROE was -43.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 30.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 37.6 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Mineralys Therapeutics, Inc. invested $221.4M in research and development in Q2 2026. This represents an increase of 478.3% from the same quarter a year earlier. Against the prior quarter it is up 808.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
MLYS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $221.4M+478.3% | $24.4M-35.7% | N/A | $31.4M-41.7% | $38.3M-2.5% | $37.9M+23.2% | N/A | $54.0M+139.9% |
| SG&A Expenses | $24.7M+191.2% | $21.0M+219.4% | N/A | $9.7M+58.2% | $8.5M+43.6% | $6.6M+42.5% | N/A | $6.1M+62.2% |
| Operating Income | -$246.0M-426.3% | -$45.3M-2.0% | N/A | -$41.1M+31.6% | -$46.7M-3.5% | -$44.4M-25.7% | N/A | -$60.1M-128.8% |
| EBITDA | -$246.0M-426.5% | -$45.3M-2.0% | N/A | -$41.1M+31.6% | -$46.7M-3.5% | -$44.4M-25.7% | N/A | -$60.1M-128.7% |
| Net Income | -$241.1M-457.1% | -$39.3M+6.8% | N/A | -$36.9M+34.5% | -$43.3M-5.5% | -$42.2M-34.0% | N/A | -$56.3M-147.5% |
| EPS (Basic) | -$2.85-331.8% | -$0.47+40.5% | -$0.35+64.3% | -$0.52+54.0% | -$0.66+20.5% | -$0.79-12.9% | -$0.98-55.6% | -$1.13-98.2% |
| EPS (Diluted) | -$2.85-331.8% | -$0.47 | -$0.35+64.3% | -$0.52+54.0% | -$0.66+20.5% | -$0.79-12.9% | -$0.98-55.6% | -$1.13-98.2% |
| Diluted Shares (Avg) | 85M+29.5% | 83M | N/A | 71M+41.7% | 65M+32.6% | 53M+18.4% | N/A | 50M+24.8% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
MLYS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $667.9M+98.9% | $652.9M+83.9% | $661.8M+221.4% | $599.9M+123.6% | $335.7M+5.4% | $354.9M+2.2% | $205.9M-18.2% | $268.3M-3.4% |
| Current Assets | $665.8M+98.6% | $652.5M+84.1% | $661.4M+222.1% | $599.8M+124.0% | $335.3M+5.4% | $354.5M+2.2% | $205.4M-17.6% | $267.7M+0.9% |
| Cash & Equivalents | $138.3M+35.8% | $112.8M-31.7% | $172.9M+51.6% | $217.6M+123.7% | $101.8M+50.0% | $165.0M+82.5% | $114.1M+131.4% | $97.3M+12.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0 |
| Total Liabilities | $116.9M+427.4% | $14.7M+10.0% | $15.1M+3.2% | $23.5M-24.9% | $22.2M-21.9% | $13.4M-30.3% | $14.6M+39.7% | $31.3M+131.3% |
| Current Liabilities | $19.3M-12.9% | $14.7M+10.0% | $15.1M+3.2% | $23.5M-24.9% | $22.2M-21.9% | $13.4M-30.3% | $14.6M+39.7% | $31.3M+131.3% |
| Non-Current Liabilities | $97.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Debt | $100K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $550.9M+75.7% | $638.1M+86.8% | $646.7M+238.1% | $576.4M+143.3% | $313.6M+8.1% | $341.6M+4.1% | $191.3M-20.7% | $236.9M-10.3% |
| Retained Earnings | -$737.6M-90.1% | -$496.5M-44.0% | -$457.2M-51.1% | -$424.9M-67.6% | -$388.0M-96.7% | -$344.7M-120.7% | -$302.5M-142.6% | -$253.6M-152.8% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
MLYS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$32.6M-7.9% | -$39.5M+13.2% | -$37.9M+43.3% | -$28.9M+42.5% | -$30.2M-0.1% | -$45.5M-137.7% | -$66.8M-130.6% | -$50.2M-163.7% |
| Depreciation & Amortization | $5K-68.8% | $6K-60.0% | $13K-13.3% | $15K+36.4% | $16K+77.8% | $15K+87.5% | $15K | $11K |
| Stock-Based Compensation | $7.4M+61.5% | $6.5M+79.6% | N/A | $5.8M+86.1% | $4.6M+58.5% | $3.6M+66.4% | N/A | $3.1M+98.9% |
| Capital Expenditures | N/A | N/A | $15K | $0-100.0% | $0 | $0-100.0% | $0 | $37K |
| Free Cash Flow | N/A | N/A | -$37.9M+43.3% | -$28.9M+42.5% | -$30.2M-0.1% | -$45.5M-136.9% | -$66.8M-130.6% | -$50.2M-163.9% |
| Investing Cash Flow | -$185.2M-331.9% | -$44.9M+51.6% | -$103.5M-223.8% | -$150.5M-289.1% | -$42.9M-654.3% | -$92.9M-66.0% | $83.6M+1133.1% | $79.6M+1886.6% |
| Financing Cash Flow | $243.3M+2374.5% | $24.3M-87.2% | $96.7M+107345.6% | $295.2M+29518900.0% | $9.8M+6567.8% | $189.3M+62.9% | $90K+21.6% | -$1K-100.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
MLYS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -43.8%-30.0pp | -6.2%+6.2pp | N/A | -6.4%+17.4pp | -13.8%+0.3pp | -12.4%-2.8pp | N/A | -23.8%-15.2pp |
| Return on Assets | -36.1%-23.2pp | -6.0%+5.9pp | N/A | -6.2%+14.8pp | -12.9%0.0pp | -11.9%-2.8pp | N/A | -21.0%-12.8pp |
| Current Ratio | 34.46+19.3x | 44.33+17.8x | 43.76+29.7x | 25.50+17.0x | 15.12+3.9x | 26.48+8.4x | 14.02-9.7x | 8.55-11.0x |
| Debt-to-Equity | 0.00-0.1x | 0.020.0x | 0.02-0.1x | 0.04-0.1x | 0.070.0x | 0.040.0x | 0.080.0x | 0.13+0.1x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Mineralys Therapeutics, Inc. MLYS | FY2025 | N/A | -$154.7M | N/A | $2.0B | — |
| Soleno Therapeutics, Inc. SLNO | FY2025 | $190.4M | $20.9M | 11.0% | $2.8B | 59/100 |
| Immunovant, Inc. IMVT | FY2026 | N/A | -$505.6M | N/A | $6.3B | — |
| Viking Therapeutics, Inc VKTX | FY2025 | $0 | -$359.6M | N/A | $3.6B | — |
| Xenon Pharmaceuticals Inc XENE | FY2025 | $7.5M | -$345.9M | N/A | $3.5B | 54/100 |
| Crinetics Pharmaceuticals, Inc. CRNX | FY2025 | $7.7M | -$465.3M | N/A | $9.0B | 60/100 |
Where Mineralys Therapeutics, Inc. Ranks
Frequently Asked Questions
Is Mineralys Therapeutics, Inc. profitable?
No, Mineralys Therapeutics, Inc. (MLYS) reported a net income of -$154.7M in fiscal year 2025.
What is Mineralys Therapeutics, Inc.'s EBITDA?
Mineralys Therapeutics, Inc. (MLYS) had EBITDA of -$170.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Mineralys Therapeutics, Inc.'s return on equity (ROE)?
Mineralys Therapeutics, Inc. (MLYS) has a return on equity of -23.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mineralys Therapeutics, Inc.'s free cash flow?
Mineralys Therapeutics, Inc. (MLYS) recorded an outflow of $142.4M in free cash flow during fiscal year 2025. This represents a 14.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Mineralys Therapeutics, Inc.'s operating cash flow?
Mineralys Therapeutics, Inc. (MLYS) recorded an outflow of $142.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Mineralys Therapeutics, Inc.'s total assets?
Mineralys Therapeutics, Inc. (MLYS) had $661.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mineralys Therapeutics, Inc.'s capital expenditures?
Mineralys Therapeutics, Inc. (MLYS) invested $15K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Mineralys Therapeutics, Inc. spend on research and development?
Mineralys Therapeutics, Inc. (MLYS) invested $132.0M in research and development during fiscal year 2025.
What is Mineralys Therapeutics, Inc.'s current ratio?
Mineralys Therapeutics, Inc. (MLYS) had a current ratio of 43.76 as of fiscal year 2025, which is generally considered healthy.
What is Mineralys Therapeutics, Inc.'s debt-to-equity ratio?
Mineralys Therapeutics, Inc. (MLYS) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mineralys Therapeutics, Inc.'s return on assets (ROA)?
Mineralys Therapeutics, Inc. (MLYS) had a return on assets of -23.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mineralys Therapeutics, Inc.'s P/E ratio?
Mineralys Therapeutics, Inc. (MLYS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $2.0B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Mineralys Therapeutics, Inc.'s price-to-sales ratio?
Mineralys Therapeutics, Inc. (MLYS) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $2.0B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Mineralys Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Mineralys Therapeutics, Inc. (MLYS) held $172.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $142.4M over that year. Dividing the one by the other, the reported balance equals about 15 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Mineralys Therapeutics, Inc.'s Piotroski F-Score?
Mineralys Therapeutics, Inc. (MLYS) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mineralys Therapeutics, Inc.'s earnings high quality?
Mineralys Therapeutics, Inc. (MLYS) reported a net loss of $154.7M while operations used $142.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.