S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
FOSTER CITY, Calif. - Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) reported fourth quarter earnings that fell short of analyst expectations, sending its stock down 4.4% in after-hours trading.
The biopharmaceutical company posted a fourth quarter adjusted loss of $1.85 per share, significantly wider than the $0.30 loss per share analysts had forecast. Revenue came in at $99.41 million, surpassing the consensus estimate of $95.4 million and representing a 55.6% increase YoY.
For the full year 2024, Mirum reported total net product sales of $336.4 million, up from $178.9 million in 2023. The company’s LIVMARLI drug generated $213.3 million in 2024 sales, while its Bile Acid Medicines contributed $123.1 million.
Looking ahead, Mirum provided 2025 guidance for global net product sales between $420 million to $435 million, implying continued strong growth. The company also expects to achieve positive cash flow in 2025.
"2024 was another year of significant growth and accomplishments for Mirum and in 2025 we expect this momentum to continue," said Chris Peetz, CEO of Mirum. "We continue to expand the reach of our three commercial medicines within our patient communities and look forward to another year of strong financial performance."
Mirum ended 2024 with $292.8 million in cash, cash equivalents and investments, up from $286.3 million at the end of 2023.
The company highlighted several upcoming milestones, including expected completion of enrollment for its VISTAS study of volixibat in primary sclerosing cholangitis in the second half of 2025, with topline data anticipated in 2026.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.