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MIRM Stock Up on Q2 Earnings and Revenue Beat, Raised 2025 View
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Key Takeaways
{\"0\":\"MIRM posted a Q2 loss of $0.12 per share, which beat estimates and narrowed from $0.52 a year ago.\",\"1\":\"Q2 revenues rose 64.1% Y/Y to $127.8M, fueled by strong Livmarli and bile acid product sales.\",\"2\":\"MIRM lifted 2025 revenue guidance to $490M-$510M, up from the previous $435M-$450M range.\"}
Mirum Pharmaceuticals (MIRM - Free Report) reported a loss of 12 cents per share for the second quarter of 2025, much narrower than the Zacks Consensus Estimate of a loss of 31 cents. The company had incurred a loss of 52 cents per share in the year-ago quarter.
Revenues in the second quarter totaled $127.8 million, up almost 64.1% year over year. The figure also beat the Zacks Consensus Estimate of $108 million. The top line was driven by strong growth of its marketed products, Livmarli (maralixibat) and recently acquired products, Cholbam and Ctexli (chenodiol).
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 Ctexli tablets to its portfolio of commercialized drugs.
Shares of Mirum were up 8.6% in after-hours trading on Aug. 6, owing to the better-than-expected results as well as an increased revenue guidance for 2025.
Year to date, the stock has rallied 29.1% compared with the industry’s rise of 0.2%.
Image Source: Zacks Investment Research
MIRM's Q2 Earnings in Detail
Livmarli’s net product sales were $88.2 million in the second quarter, reflecting an increase of 87% year over year. Livmarli sales in the United States were $57 million, driven by strong demand across all indications. In ex-U.S. markets, Livmarli sales were $31.2 million.
Net product sales of bile acid products, comprising Cholbam and Ctexli tablets, were $39.6 million in the second quarter, reflecting an increase of 30% year over year.
The company did not record any license and other revenues in the reported quarter.
Research and development expenses increased almost 41% year over year to $46.1 million.
Selling, general and administrative expenses totaled $63.3 million, up almost 28.7% from the year-ago quarter’s level.
As of June 30, 2025, Mirum had cash, cash equivalents and investments worth $321.7 million compared with $298.6 million as of March 31, 2025.
MIRM's 2025 Guidance Raised
Owing to the strong performance of Livmarli, Mirum raised its full-year revenue guidance for 2025.
The company now expects revenues to be in the range of $490-$510 million in 2025, compared with the earlier projection of $435-$450 million.
MIRM's Key Recent Developments
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.
The FDA recently approved a new tablet formulation of Livmarli for the treatment of cholestatic pruritus in patients with Alagille syndrome and progressive familial intrahepatic cholestasis. The oral tablet was launched in the United States in June and is likely to offer convenience for the older patients.
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).
Enrollment in the VISTAS study is expected to be completed shortly, with top-line data expected to be announced in the second quarter of 2026. The company expects to complete enrollment in the VANTAGE study in 2026.
Mirum also plans to initiate a phase II study on its recently in-licensed PDE4D inhibitor, MRM-3379, for treating Fragile X syndrome in the fourth quarter of 2025.
Mirum Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
In the past 60 days, estimates for CorMedix’s earnings per share have increased from 93 cents to 97 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from $1.64 to $1.65. Year to date, shares of CRMD have rallied 47.5%.
CorMedix’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 25.82%.
In the past 60 days, estimates for Exact Sciences’ earnings per share have increased from 5 cents to 16 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from $1.13 to $1.23. Year to date, shares of EXAS have declined 16.6%.
Exact Sciences’ earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 48.79%.
In the past 60 days, estimates for Immunocore’s 2025 loss per share have narrowed from 86 cents to 68 cents. Loss per share estimates for 2026 have narrowed from $1.34 to $1.10 during the same period. IMCR stock has increased 8.9% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 76.18%.
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MIRM Stock Up on Q2 Earnings and Revenue Beat, Raised 2025 View
Key Takeaways
Mirum Pharmaceuticals (MIRM - Free Report) reported a loss of 12 cents per share for the second quarter of 2025, much narrower than the Zacks Consensus Estimate of a loss of 31 cents. The company had incurred a loss of 52 cents per share in the year-ago quarter.
Revenues in the second quarter totaled $127.8 million, up almost 64.1% year over year. The figure also beat the Zacks Consensus Estimate of $108 million. The top line was driven by strong growth of its marketed products, Livmarli (maralixibat) and recently acquired products, Cholbam and Ctexli (chenodiol).
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 Ctexli tablets to its portfolio of commercialized drugs.
Shares of Mirum were up 8.6% in after-hours trading on Aug. 6, owing to the better-than-expected results as well as an increased revenue guidance for 2025.
Year to date, the stock has rallied 29.1% compared with the industry’s rise of 0.2%.
Image Source: Zacks Investment Research
MIRM's Q2 Earnings in Detail
Livmarli’s net product sales were $88.2 million in the second quarter, reflecting an increase of 87% year over year. Livmarli sales in the United States were $57 million, driven by strong demand across all indications. In ex-U.S. markets, Livmarli sales were $31.2 million.
Net product sales of bile acid products, comprising Cholbam and Ctexli tablets, were $39.6 million in the second quarter, reflecting an increase of 30% year over year.
The company did not record any license and other revenues in the reported quarter.
Research and development expenses increased almost 41% year over year to $46.1 million.
Selling, general and administrative expenses totaled $63.3 million, up almost 28.7% from the year-ago quarter’s level.
As of June 30, 2025, Mirum had cash, cash equivalents and investments worth $321.7 million compared with $298.6 million as of March 31, 2025.
MIRM's 2025 Guidance Raised
Owing to the strong performance of Livmarli, Mirum raised its full-year revenue guidance for 2025.
The company now expects revenues to be in the range of $490-$510 million in 2025, compared with the earlier projection of $435-$450 million.
MIRM's Key Recent Developments
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.
The FDA recently approved a new tablet formulation of Livmarli for the treatment of cholestatic pruritus in patients with Alagille syndrome and progressive familial intrahepatic cholestasis. The oral tablet was launched in the United States in June and is likely to offer convenience for the older patients.
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).
Enrollment in the VISTAS study is expected to be completed shortly, with top-line data expected to be announced in the second quarter of 2026. The company expects to complete enrollment in the VANTAGE study in 2026.
Mirum also plans to initiate a phase II study on its recently in-licensed PDE4D inhibitor, MRM-3379, for treating Fragile X syndrome in the fourth quarter of 2025.
Mirum Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Mirum Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Mirum Pharmaceuticals, Inc. Quote
MIRM's Zacks Rank & Stocks to Consider
Mirum currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are CorMedix (CRMD - Free Report) , Exact Sciences (EXAS - Free Report) and Immunocore (IMCR - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for CorMedix’s earnings per share have increased from 93 cents to 97 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from $1.64 to $1.65. Year to date, shares of CRMD have rallied 47.5%.
CorMedix’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 25.82%.
In the past 60 days, estimates for Exact Sciences’ earnings per share have increased from 5 cents to 16 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from $1.13 to $1.23. Year to date, shares of EXAS have declined 16.6%.
Exact Sciences’ earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 48.79%.
In the past 60 days, estimates for Immunocore’s 2025 loss per share have narrowed from 86 cents to 68 cents. Loss per share estimates for 2026 have narrowed from $1.34 to $1.10 during the same period. IMCR stock has increased 8.9% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 76.18%.