Mirum Pharmaceuticals ( (MIRM) ) has released its Q3 earnings. Here is a breakdown of the information Mirum Pharmaceuticals presented to its investors.
Mirum Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing treatments for rare diseases affecting children and adults, with a portfolio that includes LIVMARLI, CHOLBAM, and CHENODAL. In its third-quarter earnings report for 2024, Mirum Pharmaceuticals announced a significant increase in global net product sales, reaching $90.3 million, and revised its annual sales guidance upwards to $330-335 million. The company also highlighted its strategic advancements, including the breakthrough therapy designation for volixibat in the treatment of cholestatic pruritus and the initiation of the Phase 3 EXPAND study for LIVMARLI. Mirum reported an 89% increase in sales compared to the previous year, driven by the strong performance of its commercial medicines, particularly LIVMARLI, which alone accounted for $59.1 million in sales. Additionally, Mirum expanded its pipeline by in-licensing the PDE4D inhibitor MRM-3379 for Fragile X syndrome and announced an upcoming PDUFA date for chenodiol in CTX. Despite a net loss of $14.2 million for the quarter, the company’s financial position remains robust with cash and investments totaling $293.8 million. Looking forward, Mirum Pharmaceuticals appears poised for continued growth as it progresses with its clinical trials and expands its therapeutic offerings in the rare disease sector.