Mirum Pharmaceuticals (MIRM) investor relations material

Corporate strategy and growth outlook

• Focused on commercializing therapies for rare liver and genetic diseases, with a portfolio including LIVMARLI, volixibat, brelovitug, and zilurgisertib.

• Net sales have grown from $10 million five years ago to a 2026 guidance of $660–$780 million, targeting cash flow positivity by end of next year.

• Capital allocation prioritizes building a sustainable, high-growth rare disease business while returning value to shareholders.

• Temporary dip in cash flow expected this year due to phase III pipeline investments, with a return to positive cash flow anticipated next year.

Pipeline and clinical development

• Four registrational top-line readouts expected in the next 12 months, including VISTAS, EXPAND, and VANTAGE, plus a PDUFA date for zilurgisertib in September.

• Programs are sequenced to de-risk events, with parallel investment and operational synergies across liver and rare genetic disease franchises.

• Minimal incremental investment needed for new indications due to existing infrastructure.

Franchise organization and revenue outlook

• Business is organized into two units: liver diseases (LIVMARLI, volixibat, brelovitug) and rare genetic diseases (CTEXLI, CHOLBAM, zilurgisertib).

• Synergies exist between products and prescriber accounts, especially for new in-licensed assets.

• LIVMARLI is expected to reach at least $1 billion in peak sales, volixibat also targets $1 billion, brelovitug at least $750 million, and zilurgisertib at least $200 million.