Mirum 2025 Q1 Earnings Strong Improvement in Net Income by 41.9%

Mirum (MIRM) reported its fiscal 2025 Q1 earnings on May 07th, 2025. The total revenue of Mirum increased by 61.2% to $111.58 million in 2025 Q1, up from $69.22 million in 2024 Q1.

Mirum exceeded expectations with a 61.2% rise in revenue, reaching $111.58 million for the first quarter. The company has raised its full-year revenue guidance to between $435 million and $450 million, reflecting confidence in continued growth.

Revenue
Mirum's total revenue in Q1 2025 was driven entirely by product sales, which soared to $111.58 million, reflecting significant growth compared to the previous year's first quarter. There was no revenue contribution from licenses or other sources this quarter.

Earnings/Net Income
Mirum narrowed losses to $0.30 per share in 2025 Q1 from a loss of $0.54 per share in 2024 Q1, showcasing a 44.4% improvement. The company successfully reduced its net loss to $-14.68 million in 2025 Q1, a 41.9% reduction compared to the $-25.28 million net loss reported in 2024 Q1. The improved EPS indicates positive financial progress.

Post-Earnings Price Action Review
Over the past five years, investing in Mirum (MIRM) shares after a quarter of declining revenue and holding for 30 days has yielded moderate results. The strategy achieved an 11.69% return, lagging behind the benchmark by 72.39%. Despite the returns, the strategy experienced a maximum drawdown of -17.68% and a Sharpe ratio of 0.15, reflecting a challenging risk-return profile. These metrics underscore the importance of risk management due to the stock's volatility.

CEO Commentary
Chris Peetz, CEO, highlighted Mirum's "tremendous progress" in Q1 2025, reporting total revenues of $111.6 million, reflecting a 61% year-over-year growth. He emphasized the success of their commercial medicines and the advancement of their pipeline, noting three significant regulatory approvals that will drive future growth. Peetz expressed optimism about the ongoing VISTAS study for Volixibat in PSC, anticipating enrollment completion by Q3 2025 and top-line data by Q2 2026. He reiterated confidence in Mirum's leadership in the rare disease market, stating that 2025 is poised to be another year of "meaningful growth" for the company.

Guidance
Mirum updated its full-year revenue guidance to between $435 million and $450 million, driven by strong demand across its commercial medicines. The company expects continued growth from LIVMARLI and anticipates completing enrollment for the VISTAS study by Q3 2025, with top-line data expected in Q2 2026. The firm remains focused on advancing its pipeline, maintaining a cash flow positive outlook for the year, while also emphasizing financial discipline.

Additional News
In recent weeks, Mirum Pharmaceuticals has been actively advancing its strategic initiatives. The company has received three significant regulatory approvals since the start of the year, including FDA approval for CTEXLI and LIVMARLI in Japan, which are expected to enhance its growth trajectory. Additionally, Mirum's CEO, Chris Peetz, reiterated the company's commitment to expanding its pipeline, with promising interim data from the VANTAGE study in primary biliary cholangitis (PBC) showcasing potential. The company remains focused on maintaining its cash flow positive status for the full year, reflecting strong financial health and stability. These developments highlight Mirum's ongoing efforts to solidify its position in the rare disease market and drive sustained growth.