Mirum Pharmaceuticals, Inc. reported a net income of $2.9 million for the third quarter of 2025, a significant improvement compared to a net loss of $14.2 million in the same period of 2024. For the nine months ending September 30, 2025, the company recorded a net loss of $17.6 million, a notable reduction from a loss of $64.2 million during the same timeframe in the previous year. Total revenue for the third quarter reached $133.0 million, up from $90.4 million in the prior year, driven primarily by increased product sales of its approved medicines, particularly LIVMARLI® and the Bile Acid Medicines.
The company's product sales for the third quarter of 2025 were $133.0 million, reflecting a 47% increase from $90.3 million in the third quarter of 2024. This growth was attributed to the continued commercialization of LIVMARLI for the treatment of cholestatic pruritus in patients with Alagille syndrome and progressive familial intrahepatic cholestasis, as well as sales of Cholbam® and Chenodal® (Ctexli®). For the nine months ended September 30, 2025, product sales totaled $372.4 million, compared to $237.0 million in the same period of 2024.
Operating expenses for the third quarter of 2025 were $130.4 million, an increase from $103.1 million in the prior year, primarily due to higher costs in research and development, as well as selling, general, and administrative expenses. Research and development expenses rose to $43.0 million from $31.7 million, reflecting increased clinical trial activities and personnel costs. Selling, general, and administrative expenses also increased to $61.9 million from $50.5 million, driven by higher personnel costs and marketing efforts to support the commercialization of its products.
As of September 30, 2025, Mirum had total assets of $785.1 million, up from $670.8 million at the end of 2024. The company reported unrestricted cash, cash equivalents, and investments of $378.0 million, providing a solid liquidity position to support ongoing operations and product development. The company anticipates continued net losses as it invests in commercialization and clinical trials, but expects product sales to grow annually. Mirum's strategic focus includes expanding its product offerings and entering new markets, while managing the risks associated with competition and regulatory approvals.
About Mirum Pharmaceuticals, Inc.
Mirum Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing therapies for rare and orphan diseases, particularly cholestatic liver and bile acid disorders. Its core products include LIVMARLI, CHOLBAM, and CHENODAL, targeting conditions like Alagille syndrome, PFIC, and CTX. The company leverages proprietary drug candidates, licensing agreements, and strategic acquisitions to address high unmet medical needs in niche markets worldwide.
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