Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * RA CAPITAL MANAGEMENT, L.P. 2. Issuer Name and Ticker or Trading Symbol Mineralys Therapeutics, Inc. [MLYS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 200 BERKELEY STREET, 18TH FLOOR, 3. Date of Earliest Transaction (Month/Day/Year) 02/19/2026 (Street) BOSTON, MA 02116 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 02/19/2026 A 6,200(1) A $ 0 6,200 I See footnotes(2)(3) Common Stock 5,456,521 I See footnotes(2)(4) Common Stock 1,867,229 I See Footnote(2)(5)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (Right to Buy)

$28.06

02/19/2026

A

8,300

(6)

02/19/2036

Common Stock

8,300

$ 0

8,300

I

See Footnote(2)(3)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
RA CAPITAL MANAGEMENT, L.P. 200 BERKELEY STREET, 18TH FLOOR BOSTON, MA 02116	X
RA Capital Healthcare Fund LP 200 BERKELEY STREET, 18TH FLOOR BOSTON, MA 02116	X
RA Capital Nexus Fund III, L.P. 200 BERKELEY STREET, 18TH FLOOR BOSTON, MA 02116	X
Kolchinsky Peter C/O RA CAPITAL MANAGEMENT, L.P. 200 BERKELEY STREET, 18TH FLOOR BOSTON, MA 02116	X
Shah Rajeev M. C/O RA CAPITAL MANAGEMENT, L.P. 200 BERKELEY STREET, 18TH FLOOR BOSTON, MA 02116	X

Signatures

/s/ Peter Kolchinsky, Manager of RA Capital Management, L.P.		02/20/2026
**Signature of Reporting Person		Date
/s/ Peter Kolchinsky, Manager of RA Capital Healthcare Fund GP, LLC the General Partner of RA Capital Healthcare Fund, L.P.		02/20/2026
**Signature of Reporting Person		Date
/s/ Peter Kolchinsky, Manager of RA Capital Nexus Fund III GP, LLC the General Partner of RA Capital Nexus Fund III, L.P.		02/20/2026
**Signature of Reporting Person		Date
/s/ Peter Kolchinsky, individually		02/20/2026
**Signature of Reporting Person		Date
/s/ Rajeev Shah, individually		02/20/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Restricted Stock Units (RSUs) are granted to Dr. Derek DiRocco for no additional cash consideration, each of which represents a contingent right to receive one share of common stock upon vesting of these RSUs in one annual installment following the date of grant.
(2)	RA Capital Management, L.P. (the "Adviser") is the investment manager for RA Capital Healthcare Fund, L.P. (the "Fund") and RA Capital Nexus III Fund, L.P. (the "Nexus Fund III"). The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. The Adviser, the Adviser GP, the Fund, the Nexus Fund III, Dr. Kolchinsky and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.
(3)	Derek DiRocco is a Partner of the Adviser who serves on the Issuer's board of directors. Under Dr. DiRocco's arrangement with the Adviser, Dr. DiRocco holds the RSUs and the options for the benefit of the Fund and the Nexus Fund III. Dr. DiRocco is obligated to turn over to the Adviser any net cash or stock received upon settlement of the RSUs or exercise of the options, as applicable, which will offset advisory fees owed by the Fund and the Nexus Fund III to the Adviser. The Reporting Persons therefore disclaim beneficial ownership of the option and underlying common stock.
(4)	Held directly by the Fund.
(5)	Held directly by Nexus Fund III.
(6)	The stock option vests in 12 substantially equal monthly installments following the date of grant.
Remarks: Dr. Derek DiRocco, a Partner of the Adviser, serves on the Issuer's board of directors.

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