Mirum Pharmaceuticals Reports $111.6 Million Revenue in Q1 2025, Improved Net Loss

Mirum Pharmaceuticals, Inc. reported significant financial results for the first quarter of 2025, with total revenue reaching $111.6 million, a substantial increase from $68.9 million in the same period last year. This growth was primarily driven by increased product sales of its approved medicines, particularly LIVMARLI® and the Bile Acid Medicines, which include Cholbam® and Chenodal® (now marketed as Ctexli®). The company’s net loss for the quarter was $14.7 million, a notable improvement compared to a net loss of $25.3 million in the first quarter of 2024.

The company's operating expenses also rose, totaling $126.8 million for the quarter, up from $95.7 million a year earlier. This increase was attributed to higher costs in research and development, which rose to $46.0 million from $32.2 million, and selling, general, and administrative expenses, which increased to $57.7 million from $45.6 million. The rise in expenses reflects Mirum's ongoing investment in its product pipeline and commercialization efforts, including the recent FDA approval of Ctexli for the treatment of cerebrotendinous xanthomatosis (CTX).

In terms of operational metrics, Mirum's product sales were bolstered by strong demand in the U.S. market, where sales reached $86.9 million, compared to $56.1 million in the prior year. International sales also saw growth, totaling $24.7 million, up from $12.8 million. The company continues to expand its market presence, particularly through partnerships, such as its collaboration with Takeda for the commercialization of LIVMARLI in Japan, which recently received regulatory approval.

As of March 31, 2025, Mirum reported an accumulated deficit of $658.9 million and unrestricted cash, cash equivalents, and investments totaling $298.6 million, providing a solid liquidity position to support ongoing operations. The company anticipates continued net losses as it invests in clinical trials and commercialization activities. Looking ahead, Mirum expects to see further growth in product sales, although it acknowledges potential fluctuations due to the timing of large orders from partners and distributors. The company remains focused on advancing its clinical pipeline, including the development of its product candidate MRM-3379 for Fragile-X Syndrome, with plans to initiate a Phase 2 clinical trial in 2025.