Mineralys Therapeutics, Inc. (MLYS) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: June 03, 2026

Risk Assessment Details

Potential Dilution: 23.52% of current shares
Recent Dilution: 60.66% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
82M
Potential Supply
19M
Additional shares possible
Splits
None
Past 2 years

Summary

MLYS currently has 82.4M outstanding shares. with moderate dilution risk from 19.4M authorized shares representing 23.5% potential dilution. The company has significantly diluted shareholders by 60.66% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jun 03, 2026

8-K filing: Mineralys Therapeutics, Inc. announced the pricing of an underwritten public offering of 5,660,378 shares of its common stock at a public offering price of $26.50 per share. ($150.0M proceeds)

82M 19M
Mar 12, 2026

10-K filing | 82.4M shares outstanding

82M 19M
Nov 10, 2025

10-Q filing | 79.1M shares outstanding

79M 19M
Sep 03, 2025

8-K filing: Mineralys Therapeutics, Inc. entered into an underwriting agreement for the issuance and sale of 9,803,921 shares of common stock at $25.50 per share, with an option for the underwriters to purchase up to 1,470,588 additional shares. ($234.7M proceeds)

65M 19M
Aug 12, 2025

10-Q filing | 65.5M shares outstanding

65M 19M
May 12, 2025

10-Q filing | 65.2M shares outstanding

65M 19M
Mar 12, 2025

8-K filing: Mineralys Therapeutics, Inc. entered into an underwriting agreement for the issuance and sale of 12,962,962 shares of its common stock at a public offering price of $13.50 per share, with the offering expected to close on March 13, 2025. ($164.2M proceeds)

49M 19M
Feb 12, 2025

10-K filing | 48.5M shares outstanding

49M 19M
Nov 12, 2024

10-Q filing | 49.8M shares outstanding

50M 19M
Aug 13, 2024

10-Q filing | 49.4M shares outstanding

49M 19M
May 09, 2024

10-Q filing | 44.9M shares outstanding

45M 19M
Mar 29, 2024

S-3/A filing: This is an S-3/A filing that includes an ATM Equity Offering Sales Agreement, dated as of March 21, 2024, by and among Mineralys Therapeutics, Inc., BofA Securities, Inc. and Evercore Group L.L.C.

41M 19M
Mar 21, 2024

10-K filing | 49.6M shares outstanding

50M 19M
Mar 21, 2024

S-3 filing: The filing is an S-3 form for an at-the-market offering of common stock with an aggregate offering price of up to $100,000,000. The company intends to use the net proceeds for general corporate purposes.

41M 19M
Feb 08, 2024

8-K filing: Mineralys Therapeutics, Inc. entered into a securities purchase agreement for a private placement of 8,339,169 shares of common stock at $13.50 per share and pre-funded warrants to purchase 549,755 shares at $13.499 per warrant, with aggregate gross proceeds expected to be approximately $120 million before deducting offering expenses.

40M 12M
Nov 07, 2023

10-Q filing | 39.9M shares outstanding

40M 12M
Aug 07, 2023

10-Q filing | 39.8M shares outstanding

40M 12M
May 15, 2023

10-Q filing | 40.9M shares outstanding

41M 12M
Feb 02, 2023

S-1/A filing: This is an S-1/A filing for an initial public offering of common stock.

27M 12M
Jan 18, 2023

S-1 filing: This S-1 filing outlines the initial public offering of MLYS, detailing the common stock offering, potential underwriter options, use of proceeds, and associated risk factors.

69M 0
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