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Mirum Pharmaceuticals
Mirum Pharmaceuticals (MIRM) investor relations material
Mirum Pharmaceuticals 44th Annual J.P. Morgan Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.44th Annual J.P. Morgan Healthcare Conference summary14 Jan, 2026
Commercial performance and financial outlook
Achieved $520 million in 2025 product revenue, with 2026 guidance of $630–$650 million and expectations to be cash flow positive by 2027.
Three approved medicines drive growth, with Livmarli as a billion-plus opportunity and Volixibat and MRM-3379 also seen as billion-dollar brands.
International markets show seasonality, with stronger sales in the latter half of the year; U.S. growth remains steady.
Recent acquisitions, such as BlueJay Therapeutics, expand the portfolio and synergize with existing commercial infrastructure.
Well-financed balance sheet supports ongoing pipeline investment.
Pipeline and clinical development updates
Four pivotal clinical readouts expected in the next 18 months, including Livmarli EXPAND, Volixibat VISTAS (PSC), Volixibat VANTAGE (PBC), and Brilovatug AZURE (HDV).
Livmarli's EXPAND study targets ultra-rare cholestatic pruritus, with top-line data expected in Q4 and label expansion anticipated next year.
Volixibat's VISTAS (PSC) and VANTAGE (PBC) studies are fully enrolled, with interim and top-line data expected soon; both target significant unmet needs in adult cholestatic diseases.
MRM-3379 for Fragile X is in phase 2, with first patients randomized and data expected in 2027.
Brilovatug for hepatitis delta is in phase 3 (AZURE), with interim and top-line data expected in 2024; strong phase 2 results support confidence.
Market opportunities and strategic positioning
Livmarli is approved for Alagille syndrome and PFIC, with a third indication (EXPAND) pending; pricing ranges from $400,000–$1 million per patient per year depending on indication.
Volixibat addresses a 20,000-patient U.S. PSC market with no approved therapies and a 31,000-patient PBC front-line market; high potential for first-mover advantage in PSC.
Brilovatug targets 15,000 diagnosed and insured hepatitis delta patients in the U.S., with potential for market expansion as diagnosis rates improve.
Commercial team expansion planned in the U.S. and Western Europe to support new launches, leveraging existing relationships in hepatology and GI.
IP protection for Livmarli extends to 2040–2043, supporting long-term revenue durability.
LIVMARLI: PFIC adult diagnosis impact
Volixibat PSC: What drives confidence in data?
Brelovitug: US market opportunity and expansion
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Next Mirum Pharmaceuticals earnings date
Q4 202526 Feb, 2026
Mirum Pharmaceuticals
Next Mirum Pharmaceuticals earnings date
Q4 202526 Feb, 2026
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Frequently asked questions
Mirum Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of therapies for rare liver diseases. The company targets conditions that primarily affect children and adults with limited treatment options. Mirum’s therapeutic approach addresses disorders related to bile acid metabolism, aiming to improve liver function and quality of life for patients. The company's portfolio includes both approved treatments and investigational therapies designed to manage chronic liver diseases. The company is headquartered in Foster City, California, and its shares are listed on the NASDAQ.
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