In This Article:
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Total Net Product Sales (Q4 2024): $99.4 million, a 43% year-over-year increase from $69.5 million in Q4 2023.
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Total Net Product Sales (Full Year 2024): $336.4 million, up from $178.9 million in 2023.
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LIVMARLI Net Product Sales (Q4 2024): $64.1 million.
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LIVMARLI Net Product Sales (Full Year 2024): $213.3 million, a 50% increase compared to 2023.
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Bile Acid Medicines Net Product Sales (Q4 2024): $35 million, approximately 25% growth over Q4 2023.
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Bile Acid Medicines Net Product Sales (Full Year 2024): $123.1 million.
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Total Operating Expense (2024): $424.5 million.
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R&D Expense (2024): $140.6 million.
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SG&A Expense (2024): $202.2 million.
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Cost of Sales (2024): $81.6 million.
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Non-Cash Stock-Based Compensation Expense (2024): $48.4 million.
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Intangible Amortization and Other Non-Cash Items (2024): $31 million.
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Cash, Cash Equivalents, and Investments (End of 2024): $293 million, an increase of approximately $7 million from the start of the year.
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2025 Net Product Sales Guidance: $420 million to $435 million.
Release Date: February 26, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Mirum Pharmaceuticals Inc (NASDAQ:MIRM) reported total net product sales of $336.4 million for 2024, exceeding the upper end of their revised guidance range.
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The company achieved a 43% year-over-year increase in net product sales in the fourth quarter of 2024.
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LIVMARLI's net product sales increased by 50% compared to 2023, driven by strong demand in Alagille syndrome and PFIC.
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The FDA approved CTEXLI for cerebrotendinous xanthomatosis (CTX) in adults, providing 7 years of market exclusivity.
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Mirum Pharmaceuticals Inc (NASDAQ:MIRM) is cash flow positive and expects to maintain this status in 2025, with projected net product sales between $420 million and $435 million.
Negative Points
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Total operating expenses for 2024 were $424.5 million, which includes significant R&D and SG&A expenses.
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The company faces risks and uncertainties that may cause actual results to differ materially from forward-looking statements.
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The convertibles mature in four years, which could impact future financial planning.
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The company is still in the early stages of its journey, indicating potential challenges in achieving long-term strategic goals.
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Enrollment for some clinical studies, such as the VANTAGE study, is not expected to complete until 2026, delaying potential market entry.
Q & A Highlights
Q: How does the strong stock performance and earnings impact Mirum's business development and capital allocation strategies? A: Christopher Peetz, CEO, explained that Mirum's strong financial position allows the company to pursue acquisitions and roll up rare disease products, creating value. Eric Bjerkholt, CFO, added that the convertible notes maturing in four years do not significantly impact current plans, and the company has flexibility for business development opportunities.