Mirum Pharmaceuticals
Commercializes rare-disease medicines while building a broader liver and genetic-disease pipeline.
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Profile
Sells LIVMARLI, CHOLBAM, and CTEXLI for rare liver and genetic disorders while developing medicines for additional cholestatic, viral, skeletal, and neurocognitive diseases. LIVMARLI generates most product revenue, U.S. sales dominate the mix, and manufacturing is fully outsourced.
Commercializes three rare-disease medicines: LIVMARLI for cholestatic pruritus in Alagille syndrome and progressive familial intrahepatic cholestasis, CHOLBAM for bile-acid synthesis and peroxisomal disorders, and CTEXLI for cerebrotendinous xanthomatosis. Revenue comes from product sales, with LIVMARLI contributing most and the United States accounting for most sales.
Builds on a focused specialty-commercial model in North America and parts of Europe, using distributors and licensees elsewhere. Development programs span additional LIVMARLI uses, volixibat for adult cholestatic liver disease, brelovitug for chronic hepatitis delta, zilurgisertib for fibrodysplasia ossificans progressiva, and MRM-3379 for Fragile X syndrome.
Regulatory approvals and reimbursement govern access, while all manufacturing is outsourced to contract producers.
Company facts
Key statistics
Year to date +24.8% · Average volume (30d) 663.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 27, 2026 | UBS | Target | $140 | $137 | |
| Aug 6, 2026 | Robert W. Baird | Target | $129 | $123 | |
| Aug 6, 2026 | Morgan Stanley | Target | $150 | $137 | |
| Aug 6, 2026 | RBC Capital | Reiterate | Outperform | $148 | $135 |
| Aug 6, 2026 | H.C. Wainwright | Reiterate | Buy | $185 | $140 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.74 | −$1.06 | −42.8% | $166.3M | $176.2M | +5.9% | −11.03% |
| May 6, 2026Q1 FY26 | −$0.40 | −$13.43 | −3,257.5% | $148.2M | $159.9M | +7.9% | −6.50% |
| Feb 25, 2026Q4 FY25 | $0.02 | −$0.11 | −650.0% | $142.5M | $148.9M | +4.5% | −15.13% |
| Nov 4, 2025Q3 FY25 | −$0.10 | $0.05 | +150.0% | $140.9M | $133.0M | −5.6% | −1.24% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $111.6M | $127.8M | $133.0M | $148.9M | $159.9M | $176.2M | |
| Gross profit | $88.6M | $104.4M | $107.5M | $120.6M | $131.0M | $145.9M | |
| Operating income | −$15.2M | −$5.0M | $2.6M | −$4.6M | −$63.2M | −$42.5M | |
| Net income | −$14.7M | −$5.9M | $2.9M | −$5.7M | −$790.2M | −$67.2M | |
| Diluted EPS | −$0.30 | −$0.12 | $0.05 | −$0.12 | −$13.43 | −$1.06 | |
| Gross margin | 79.4% | 81.7% | 80.8% | 81.0% | 81.9% | 82.8% | |
| Operating margin | -13.6% | -3.9% | 2.0% | -3.1% | -39.5% | -24.1% |
Fiscal years (4-quarter sums)FY21 $19.1M · FY22 $77.1M · FY23 $186.4M · FY24 $336.9M · FY25 $521.3M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $438.3M · Total debt $760.5M · Total assets $1.04B · Shareholders' equity −$10.4M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 60.98M · Float 52.46M · 86.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Janus Henderson Group PLC | 22.74M | 14.30% | 13G | May 14, 2025 |
| Frazier Life Sciences Management, L.P. | 7.68M | 12.59% | 13F | Aug 14, 2026 |
| Jupiter Topco LLC | 5.91M | 9.69% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 4.39M | 7.20% | 13F | Aug 7, 2026 |
| FMR LLC | 3.67M | 6.02% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | Jolanda Howe | officer: SVP, GLOBAL CONTROLLER | −40,000 | $100.00 |
| Aug 11, 2026 | Eric Bjerkholt | officer: CHIEF FINANCIAL OFFICER | −6,001 | $99.90 |
| Aug 10, 2026 | Christopher Peetz | director, officer: CHIEF EXECUTIVE OFFICER | −20,000 | $98.92 |
| Aug 3, 2026 | Jolanda Howe | officer: SVP, GLOBAL CONTROLLER | −1,840 | $105.29 |
| Jul 6, 2026 | Eric Bjerkholt | officer: CHIEF FINANCIAL OFFICER | −5,000 | $122.25 |
Peers
- Gilead Sciences
Approved HDV and PBC franchises across liver expansion
- VirBio
Late-stage HDV pipeline pressure on brelovitug
- GSK (ADR)
PBC itch IBAT overlap through Lynavoy/linerixibat
- Regeneron
Near-term FOP regulatory competitor to zilurgisertib
- Pliant Therapeutics
PSC pipeline peer with disease-modifying fibrosis approach
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Mirum Pharmaceuticals | $97.46 | 0.00% | $5.94B | — | — | 9.6 | +37.9% |
| Gilead Sciences | $139.30 | −4.36% | $180.87B | — | 16.0 | 5.9 | +10.2% |
| VirBio | $10.83 | 0.00% | $1.83B | — | — | 6.0 | +19,582.5% |
| GSK (ADR) | $50.57 | −0.51% | $101.82B | 15.8 | 9.2 | 2.2 | +2.7% |
| Regeneron | $793.21 | −0.11% | $81.82B | 19.6 | 13.1 | 5.3 | +16.7% |
| Pliant Therapeutics | $1.12 | +0.54% | $68.7M | — | — | — | — |
| Median | 17.7 | 13.1 | 5.6 | +13.5% |