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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).