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Mirum Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally. The company is also involved in the commercialization of Cholbam, a cholic acid capsule, which is approved as treatment for pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects and for adjunctive treatment of patients with peroxisomal disorders, including peroxisome biogenesis disorder-Zellweger spectrum disorder and Smith-Lemli-Opitz syndrome; and Chenodal, a tablet, which is approved for the treatment of radiolucent stones in the gallbladder, and under development for the treatment cerebrotendinous xanthomatosis. In addition, it develops Volixibat, an oral and minimally absorbed agent designed to inhibit IBAT, currently under Phase 2b clinical trial for the treatment of adult patients with cholestatic liver diseases; Brelovitug, for the treatment of chronic HDV infection, which is in Phase 2 clinical trial; and MRM-3379, that is in Phase 2 clinical study for the treatment of FXS. The company has a collaboration agreement with the Shire International GmbH; License Agreement with Pfizer Inc.; Sanofi-Aventis Deutschland GmbH; Novartis Pharma AG; Lonza Ltd.; Enthorin Therapeutics, LLC and Dart Neuroscience LLC; Asset Purchase Agreement with Asklepion Pharmaceuticals, LLC; License and Manufacturing Agreement with LGM Pharma; and Asset Purchase Agreement with Travere Therapeutics, Inc. The company was incorporated in 2018 and is headquartered in Foster City, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $521M | $17M | $-23M | $55M | -7.4% | 54.7% | -73.4% |
| 2024 | $337M | $-49M | $-88M | $-11M | -39.0% | 80.8% | -46.2% |
| 2023 | $186M | $-136M | $-163M | $-91M | -65.7% | 141.8% | 20.5% |
| 2022 | $77M | $-123M | $-136M | $-120M | -95.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 77.06 | 186.37 | 336.89 | 521.31 |
| Operating Revenue | - | 77.06 | 186.37 | 336.89 | 521.31 |
| Cost Of Revenue | - | 12.37 | 47.04 | 81.64 | 100.24 |
| Gross Profit | - | 64.69 | 139.34 | 255.24 | 421.07 |
| Operating Expense | - | 195.91 | 248.49 | 342.85 | 443.21 |
| Research And Development | - | 106.84 | 102.61 | 140.63 | 186.18 |
| Selling General And Administration | - | 89.07 | 145.88 | 202.22 | 257.03 |
| Total Expenses | - | 208.28 | 295.53 | 424.49 | 543.45 |
| Operating Income | - | -131.22 | -109.15 | -87.61 | -22.14 |
| Total Operating Income As Reported | - | -131.22 | -109.15 | -87.61 | -22.14 |
| EBITDA | - | -122.85 | -136.49 | -48.97 | 17.21 |
| Normalized EBITDA | - | -123.76 | -87.41 | -48.97 | 17.21 |
| EBIT | - | -126.09 | -147.32 | -72.60 | -7.04 |
| Interest Income | - | 3.86 | 13.74 | 13.79 | 12.73 |
| Interest Expense | - | 15.98 | 15.10 | 14.31 | 14.39 |
| Net Interest Income | - | -12.12 | -1.37 | -0.52 | -1.66 |
| Other Non Operating Income Expenses | - | 0.36 | -2.82 | 1.21 | 2.37 |
| Other Income Expense | - | 1.27 | -51.90 | 1.21 | 2.37 |
| Interest Income Non Operating | - | 3.86 | 13.74 | 13.79 | 12.73 |
| Interest Expense Non Operating | - | 15.98 | 15.10 | 14.31 | 14.39 |
| Net Non Operating Interest Income Expense | - | -12.12 | -1.37 | -0.52 | -1.66 |
| Pretax Income | - | -142.07 | -162.42 | -86.91 | -21.43 |
| Tax Provision | - | -6.41 | 0.99 | 1.03 | 1.94 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.04 | -10.31 | 0 | 0 |
| Net Income Continuous Operations | - | -135.66 | -163.42 | -87.94 | -23.36 |
| Net Income From Continuing And Discontinued Operation | - | -135.66 | -163.42 | -87.94 | -23.36 |
| Net Income From Continuing Operation Net Minority Interest | - | -135.66 | -163.42 | -87.94 | -23.36 |
| Net Income | - | -135.66 | -163.42 | -87.94 | -23.36 |
| Net Income Common Stockholders | - | -135.66 | -163.42 | -87.94 | -23.36 |
| Net Income Including Noncontrolling Interests | - | -135.66 | -163.42 | -87.94 | -23.36 |
| Normalized Income | - | -136.53 | -124.64 | -87.94 | -23.36 |
| Diluted NI Availto Com Stockholders | - | -136.58 | -163.42 | -87.94 | -23.36 |
| Basic Average Shares | - | 33.84 | 40.89 | 47.52 | 50.20 |
| Diluted Average Shares | - | 33.98 | 40.89 | 47.52 | 50.20 |
| Reconciled Depreciation | - | 3.24 | 10.83 | 23.63 | 24.24 |
| Reconciled Cost Of Revenue | - | 12.37 | 47.04 | 81.64 | 100.24 |
| Total Unusual Items | - | 0.91 | -49.08 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0.91 | -49.08 | 0 | 0 |
| Special Income Charges | - | 0 | -49.08 | 0 | 0 |
| Other Special Charges | - | - | 49.08 | - | - |
| Gain On Sale Of Security | -0.73 | 0.91 | - | - | - |
| Average Dilution Earnings | 0 | -0.91 | 0 | 0 | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Mirum Pharmaceuticals, Inc.this co. | MIRM | $5.6B | -241.41 | 17.92 | -7.4% | 329.12 |
| Kymera Therapeutics, Inc. | KYMR | $6.1B | - | 3.89 | -19.7% | - |
| Terns Pharmaceuticals, Inc. | TERN | $6.1B | -63.58 | 6.08 | -9.6% | -51.02 |
| Rhythm Pharmaceuticals, Inc. | RYTM | $6.0B | - | 22.25 | -74.8% | - |
| PACS Group, Inc. | PACS | $5.9B |
| - |
| - |
| - |
| - |
| - |
| - |
| 30.96 |
| 6.26 |
| 20.2% |
| 24.98 |
| Cogent Biosciences, Inc. | COGT | $5.6B | -17.03 | 10.24 | -60.1% | -17.21 |
| Liquidia Corporation | LQDA | $5.6B | -80.69 | 124.29 | -154.0% | -128.84 |
| CRISPR Therapeutics AG | CRSP | $5.5B | - | 2.86 | -30.3% | - |
| Scholar Rock Holding Corporation | SRRK | $5.4B | - | 22.13 | -154.0% | - |
| Peer Median | - | -40.31 | 8.25 | -45.2% | -34.12 | |