Mirum 2025 Q2 Earnings Losses Narrow Significantly

Mirum (MIRM) reported its fiscal 2025 Q2 earnings on August 6th, 2025. The company delivered results that exceeded expectations with a 64.1% year-over-year revenue increase. Mirum also raised its full-year 2025 revenue guidance to $490 million to $510 million, reflecting strong commercial performance and confidence in future growth.

Revenue
Mirum's total revenue surged by 64.1% year-over-year to $127.78 million in Q2 2025, driven by strong demand for LIVMARLI and Bile Acid Medicines. LIVMARLI net product sales reached $88.2 million, a 87% increase compared to the prior year, while Bile Acid Medicines contributed $39.6 million, up 30% year-over-year. The company's global commercial momentum, particularly in international markets and the U.S. PFIC launch, underscored its revenue strength.

Earnings/Net Income
The company narrowed its net loss to $-5.86 million in Q2 2025, a 76.2% reduction compared to the $-24.64 million loss in the same period in 2024. Earnings per share also improved significantly, with a loss of $-0.12 per share in Q2 2025 versus $-0.52 in Q2 2024. Despite the improvement, Mirum has sustained losses for five consecutive years in the corresponding fiscal quarter, indicating ongoing financial challenges.

Price Action
The stock price of Mirum has shown positive momentum, rising 3.83% during the latest trading day, 4.44% during the most recent full trading week, and 5.79% month-to-date as of the earnings report date.

Post-Earnings Price Action Review
The strategy of buying Mirum shares after a revenue raise quarter-over-quarter on the financial report release date and holding for 30 days delivered strong returns over the past three years. The approach yielded a 57.06% return, outperforming the 48.58% benchmark by 8.47%. The strategy demonstrated a CAGR of 16.86% with a maximum drawdown of 0.00%, highlighting solid risk-adjusted performance as indicated by a Sharpe ratio of 0.33 and a volatility of 50.88%.

CEO Commentary
Christopher Peetz, CEO of Mirum, emphasized the company's strong business performance and momentum in commercial execution, scientific innovation, and financial discipline. He highlighted the pipeline’s progress toward three late-stage milestones in 2026 and underscored the team's dedication in driving Mirum forward as a rare disease leader.

Guidance
Mirum raised its full-year 2025 revenue guidance to between $490 million and $510 million, citing robust growth in LIVMARLI in international markets, Alagille syndrome, and PFIC. The company expects to achieve three late-stage clinical milestones in 2026, including top-line data from the VISTAS PSC trial and the initiation of the MRM-3379 Phase II study. Mirum affirmed its financial discipline and cash flow positivity, with operating cash flow in the black for Q2 and projected for the full year.

Additional News
Mirum Pharmaceuticals announced key developments in its commercial and pipeline initiatives. The company reported a successful Q2 2025 performance, with global net product sales reaching $127.8 million. The launch of the LIVMARLI single oral tablet dose in June in the U.S. contributed to this growth. The company is on track for three important late-stage clinical milestones in 2026, including the completion of the VISTAS study for PSC and the VANTAGE study for PBC. Mirum also plans to initiate a Phase II study for MRM-3379 in Fragile X Syndrome in Q4 2025. Additionally, the company hosted a business update conference call on August 6, 2025, to discuss these developments further.