Mirum Pharmaceuticals (MIRM)
NASDAQ:MIRM
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.76Last Year’s EPS
-0.12Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented strong commercial momentum and meaningful pipeline and BD progress: solid Q1 sales growth (~42.9% YoY), an upward revision to full-year guidance, funded R&D investments, prioritized near-term regulatory catalysts (including a PDUFA on September 26, 2026), and a plan to scale the commercial team. These positives are tempered by a very large, one-time operating expense tied to the Bluejay acquisition that drove an unusually high quarterly operating charge ($761M of $949M), minimal Q1 operating cash flow (~$2M), elevated R&D spend, and remaining data and market-size uncertainties for some pipeline assets (e.g., FOP patient counts and certain subgroup signals in hepatitis delta). Management expects operating cash flow positivity next year and GAAP profitability by 2028, indicating confidence in the business model despite near-term accounting and investment-driven headwinds.Company Guidance
Revenue Growth and Raised Guidance
Q1 net product sales of ~$160 million versus $112 million in Q1 last year, a ~42.9% increase year-over-year. Company raised full-year 2026 net product sales guidance to $660 million–$680 million, driven primarily by strong PFIC uptake and better-than-expected international performance.
Strong Cash Position and Funded Investments
Cash, cash equivalents, and investments of $421 million as of March 31, 2026, up from $391 million at the beginning of the year (a ~7.7% increase). Management states planned R&D step-ups in 2026 are fully funded.
Healthy Commercial Margins
Cash contribution margin from commercial business in the mid-50% range in Q1, indicating solid unit economics from marketed products.
Pipeline Clinical Readouts & Expansion Opportunities
Positive clinical signals: VISTA (vilixibat) in PSC showed significant improvement in pruritus; AZURE-1 Phase 2b in hepatitis delta produced supportive results. Both programs represent opportunities to expand rare liver business from pediatric to larger adult populations and will have late-breaking presentations at EASL.
Strategic BD Adds a Potential Near-Term Launch
Licensing of zolergosertib (from Incyte) for FOP: NDA accepted with priority review, PDUFA date of September 26, 2026, and potential launch by year-end if approved. Upfront fee $16 million; $25 million milestone upon U.S. FDA approval; royalties mid- to high-single-digits. Company estimates peak global sales of $200M+ for the asset.
Commercial Infrastructure Expansion Plan
Planned U.S. liver field commercial expansion from ~20 to ~60 sales representatives, increasing reach from ~1,500 to over 4,000 liver health care providers to support adult liver indications (PFIC adult patients, PSC, hepatitis delta) and international expansion.
Balance Sheet Maneuvers to Support Growth
Bluejay acquisition net cash outflow of $253 million was offset by net financing proceeds of $260 million, demonstrating ability to execute transformational transactions while maintaining liquidity; company expects operating cash flow positive next year (2027).
MIRM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MIRM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | $110.08 | $102.93 | -6.50% |
Feb 25, 2026 | $108.62 | $92.19 | -15.13% |
Nov 04, 2025 | $70.97 | $70.09 | -1.24% |
Aug 06, 2025 | $53.39 | $59.82 | +12.04% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Mirum Pharmaceuticals (MIRM) report earnings?
Mirum Pharmaceuticals (MIRM) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Mirum Pharmaceuticals (MIRM) earnings time?
Mirum Pharmaceuticals (MIRM) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MIRM EPS forecast?
MIRM EPS forecast for the fiscal quarter 2026 (Q2) is -0.76.