Mirum Pharmaceuticals MIRM incurred a loss of 49 cents per share in fourth-quarter 2024, much wider than the Zacks Consensus Estimate of a loss of 27 cents. The company had reported a loss of 66 cents per share in the year-ago quarter.
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Revenues in the fourth quarter totaled $99.4 million, up 42.8% year over year. The figure also beat the Zacks Consensus Estimate of $97 million. The top line comprised sales of Livmarli (maralixibat) and newly acquired products, Cholbam and Chenodal.
Livmarli is approved for treating cholestatic pruritus in patients with Alagille syndrome worldwide. The drug is also approved for treating certain patients with progressive familial intrahepatic cholestasis in the United States and Europe.
Mirum acquired Travere Therapeutics’ bile acid products in August 2023, which added the latter’s Cholbam capsules and chenodiol tablets to its portfolio of commercialized drugs.
In the past year, shares of Mirum have rallied 70.3% against the industry’s decline of 9.5%.
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More on MIRM's Q4 Results
During the fourth quarter, the company recorded minimal negative license and other revenues. It did not record any such revenues in the year-ago quarter.
Research and development expenses increased 42.4% year over year to $44 million.
Selling, general and administrative expenses totaled $56.8 million, up almost 22.9% from the year-ago quarter’s level.
As of Dec 31, 2024, Mirum had cash, cash equivalents and marketable securities worth $292.8 million compared with $293.8 million as of Sept. 30, 2024.
MIRM's Full-Year Results
For 2024, Mirum generated revenues of $336.9 million compared with $186.4 million recorded in the year-ago quarter.
For the same period, the company reported a loss of $1.85 per share, narrower than a loss of $4.00 per share in the year-ago period.
2025 Guidance
Mirum expects worldwide net product sales of approximately $420-$435 million and positive cash flow in 2025.
MIRM's Recent Updates
Mirum is evaluating Livmarli in the phase III EXPAND study for treating pruritus in rare cholestatic conditions. Enrollment in the study is expected to be completed in 2026.
Earlier this week, the FDA approved Ctexli (chenodiol) tablets, a bile acid, for the treatment of adults with cerebrotendinous xanthomatosis (CTX). Following the nod, Ctexli became the first and only treatment to be approved for this rare, progressive and debilitating disease.
Mirum’s lead pipeline candidate, volixibat, is currently being evaluated in two phase IIb studies for treating patients with primary biliary cholangitis (the VANTAGE study) and primary sclerosing cholangitis (the VISTAS study).
Enrollment in the VISTAS study is expected to be completed in the second half of 2025 with top-line data expected to be announced in 2026. The company expects to complete enrollment in the VANTAGE study in 2026.
Mirum also plans to initiate a phase II study on its recently in-licensed PDE4D inhibitor, MRM-3379, for treating Fragile X syndrome later in 2025.
Mirum Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Mirum Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Mirum Pharmaceuticals, Inc. Quote
MIRM's Zacks Rank & Other Stocks to Consider
Mirum currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the drug/biotech sector are Rigel Pharmaceuticals, Inc. RIGL, argenx SE ARGX and Pacira BioSciences, Inc. PCRX, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Rigel Pharmaceuticals’ earnings per share have increased from 92 cents to $1.28 for 2025. In the past year, shares of RIGL have risen 44.1%.
RIGL earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 1,754.28%.
In the past 60 days, estimates for argenx’s earnings per share have increased from $9.08 to $10.85 for 2025. In the past year, shares of ARGX have risen 56.5%.
ARGX’s earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 339.37%.
In the past 60 days, estimates for Pacira BioSciences’ earnings per share have increased from $2.79 to $3.59 for 2025. In the past year, shares of PCRX have decreased 14.9%.
PCRX’s earnings beat estimates in two of the trailing four quarters, met the same once and missed the same on the remaining occasion, the average surprise being 7.13%.
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Mirum Pharmaceuticals, Inc. (MIRM) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
