Mineralys Therapeutics, Inc. Fair Value Disclosure
| December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Level 1 | |||||||||||
| Assets | |||||||||||
| Cash equivalents | |||||||||||
| Money market funds | $ | 161,943 | $ | 83,602 | |||||||
| As of December 31, 2025 | ||||||||||||||||||||
| Balance Sheet Location | Original Maturities | Amortized Cost | Estimated Fair Value | |||||||||||||||||
| Cash and cash equivalents | less than 3 months | $ | 9,948 | $ | 9,948 | |||||||||||||||
| Investments | between 3 and 12 months | 483,714 | 483,891 | |||||||||||||||||
| Total | $ | 493,662 | $ | 493,839 | ||||||||||||||||
| As of December 31, 2024 | ||||||||||||||||||||
| Balance Sheet Location | Original Maturities | Amortized Cost | Estimated Fair Value | |||||||||||||||||
| Cash and cash equivalents | less than 3 months | $ | 29,825 | $ | 29,829 | |||||||||||||||
| Investments | between 3 and 12 months | 84,096 | 84,123 | |||||||||||||||||
| Total | $ | 113,921 | $ | 113,952 | ||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 12, 2026 | Showing above |
| 2024 | Feb 12, 2025 | |
| 2023 | Mar 21, 2024 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.