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Jun 30, 2023
Mirum Pharmaceuticals Q2 2023 Earnings Report
Mirum Pharmaceuticals' Q2 2023 financial results were reported, highlighted by a revenue increase and strategic acquisitions.
Key Takeaways
Mirum Pharmaceuticals reported a total revenue of $37.5 million for Q2 2023, including $32.5 million from LIVMARLI net product sales. The company is acquiring CHENODAL and CHOLBAM to expand its leadership in pediatric hepatology. Four late-stage clinical trial data readouts are expected later this year.
Total revenue reached $37.5 million, with LIVMARLI contributing $32.5 million in net product sales.
Agreement to acquire CHENODAL and CHOLBAM was made, strengthening the company's position in pediatric hepatology.
Global net sales grew 86% compared to Q2 2022.
Mirum had cash, cash equivalents, and short-term investments of $330 million as of June 30, 2023.
Revenue by Segment
Forward Guidance
Mirum anticipates continued growth for LIVMARLI and expects multiple regulatory and pipeline catalysts in the second half of the year. The acquisition of CHENODAL and CHOLBAM is expected to add over $100 million in annual net sales.
Positive Outlook
- Continued commercial success for LIVMARLI
- Growth in year-over-year net product sales
- LIVMARLI commercial growth in international markets
- Potential label expansion into PFIC
- Becoming a global leader in rare disease
Challenges Ahead
- Risks and uncertainties associated with Mirum’s business in general
- Adverse macroeconomic and geopolitical development
- Uncertainties related to ongoing and planned studies for product candidates
- Potential delays in receipt and timing of planned data readouts
Historical Earnings Impact
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Avg. Return Before/After Earnings
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