Mirum Soars 12% on $68.5M Private Placement: A Rare Disease Catalyst Ignites Biotech Buzz

Summary
• Mirum Pharmaceuticals (MIRM) surges 12.08% to $78.77, hitting its 52-week high of $79.325
• $68.5M private placement with TCGX announced, priced at $68.48/share, to fund Bluejay Therapeutics acquisition
• Intraday range of $70.76 to $79.325 signals sharp volatility amid regulatory and capital market tailwinds

Mirum Pharmaceuticals has ignited a rare disease rally, surging over 12% in a single session as a $68.5 million private placement with TCGX catalyzes investor optimism. The biotech’s aggressive capital raise, coupled with its impending acquisition of Bluejay Therapeutics, has positioned the stock at a critical inflection point. With the sector grappling with regulatory scrutiny and capital constraints, Mirum’s strategic maneuvering underscores its potential to disrupt the viral and liver disease therapeutic landscape.

Capital Injection Fuels Acquisition-Driven Optimism
Mirum’s 12.08% intraday surge is directly attributable to its $68.5 million private placement with TCGX, a transaction designed to fund the acquisition of Bluejay Therapeutics. The $68.48/share pricing—well below the current $78.77 level—signals strong investor confidence in the combined entity’s pipeline, particularly Bluejay’s viral and liver disease assets. The private placement, alongside a prior $200 million raise, provides Mirum with $268.5 million in gross proceeds, addressing regulatory and operational hurdles ahead of the Q1 2026 acquisition. This capital infusion not only de-risks near-term development but also aligns with the company’s strategic pivot into high-impact viral therapies, a sector gaining traction amid global health priorities.

Biotech Sector Volatility: AMGN Leads as MIRM Surges on Capital Catalyst
While the broader biotech sector remains mixed, Mirum’s 12.08% gain starkly contrasts with Amgen’s (AMGN) modest 1.25% intraday rise. The divergence highlights Mirum’s unique catalyst—its capital-backed acquisition strategy—versus Amgen’s reliance on incremental earnings growth. The sector’s recent focus on capital efficiency and regulatory clarity has amplified Mirum’s appeal, particularly as its private placement avoids the dilution risks common in public offerings. This dynamic positions Mirum as a short-term outperformer in a sector where liquidity and strategic acquisitions are increasingly decisive.

Options Playbook: Leverage MIRM’s Bullish Momentum with Gamma-Driven Calls
• 200-day MA: $58.01 (well below current price)
• RSI: 43.25 (oversold territory)
• MACD: -0.96 (bullish crossover potential)
• Bollinger Bands: $63.27–$74.76 (current price at 78.77 suggests strong breakout)

Mirum’s technicals and options chain present a compelling case for aggressive bullish positioning. The stock’s 12.08% intraday gain has pushed it above its 200-day MA by 35%, while RSI at 43.25 indicates oversold conditions. The options market reflects this optimism, with the MIRM20260116C80 and MIRM20260417C85 contracts standing out for their liquidity and gamma exposure. These contracts offer high leverage (24.53% and 12.66%) and moderate deltas (0.52 and 0.47), ideal for capitalizing on continued momentum. The MIRM20260116C80, with a 36.31% IV and $12,710 turnover, provides immediate gamma-driven gains if the stock holds above $80. The MIRM20260417C85, priced at $85 with 43.94% IV, offers a longer-term play on the Bluejay acquisition’s regulatory and operational milestones. For a 5% upside scenario (targeting $82.66), the MIRM20260116C80 would yield a 15.6% payoff, while the MIRM20260417C85 would return 12.4%. Aggressive bulls should prioritize the January 16 $80 call for short-term gamma exposure, while the April 17 $85 call serves as a strategic hold for acquisition-driven upside.

Backtest Mirum Stock Performance
The backtest of MIRM's performance following a 12% intraday surge from 2022 to the present indicates positive short-to-medium-term gains, with the 3-Day win rate at 51.12%, the 10-Day win rate at 55.80%, and the 30-Day win rate at 59.88%. The maximum return observed was 9.91% over 30 days, suggesting that while there is volatility, MIRM can capitalize on intraday movements to generate positive returns.

MIRM at Inflection Point: Capital, Catalysts, and Gamma-Driven Gains
Mirum’s 12.08% surge is not a fleeting rally but a calculated response to its $268.5 million capital raise and Bluejay acquisition. The stock’s technicals—oversold RSI, bullish MACD, and breakout above Bollinger Bands—signal a high-probability continuation. With Amgen (AMGN) up 1.25% as the sector leader, Mirum’s aggressive capital strategy positions it to outperform. Investors should monitor the $80 psychological level and the $85 strike for gamma-driven momentum. For those seeking leverage, the MIRM20260116C80 offers immediate upside, while the MIRM20260417C85 provides a longer-term play on regulatory clarity. Act now: Buy the January $80 call and hold the April $85 call as the acquisition timeline unfolds.