CEO of Bio Company Preparing for Hypertension New Drug Review Sells Some Shares While Retaining 20 Billion Won Stake

According to a filing with the U.S. Securities and Exchange Commission today, Mineralys Therapeutics, Inc. (NASDAQ: MLYS) CEO Jon Congleton sold 75,000 shares of the company’s common stock on the open market in two separate transactions under a pre-arranged Rule 10b5-1 trading plan. The shares were sold at approximately $25.94 and $26.82 per share, generating total proceeds of about $1.96 million (roughly 2.6 billion Korean won). After these sales, Congleton still directly owns approximately 614,000 shares of common stock, representing an equity stake valued in the tens of millions of U.S. dollars (hundreds of billions of Korean won).

Mineralys Therapeutics also announced that the U.S. Food and Drug Administration has formally accepted its New Drug Application for zokundrostat, an investigational treatment for hypertension, and set a PDUFA target action date of December 22, 2026. As of March 31, 2026, the company held approximately $646.1 million in cash and marketable securities, which it expects will fund clinical development, regulatory activities, and commercialization preparations through 2028.

Headquartered in Radnor, Pennsylvania, Mineralys Therapeutics is a clinical-stage biotech company focused on developing zokundrostat, a selective aldosterone synthase inhibitor for patients with uncontrolled or resistant hypertension. Zokundrostat has demonstrated blood-pressure–lowering efficacy and a favorable safety profile across multiple Phase 2 and Phase 3 trials and is now in the final regulatory review stage for potential U.S. commercial approval.