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Sep 30, 2023
Mirum Pharmaceuticals Q3 2023 Earnings Report
Mirum Pharmaceuticals reported third quarter 2023 financial results, highlighted by a 106% increase in LIVMARLI global net sales and the completion of the CHENODAL and CHOLBAM acquisition.
Key Takeaways
Mirum Pharmaceuticals reported a strong third quarter in 2023, marked by a significant increase in total revenue to $47.7 million, driven by LIVMARLI sales growth and the acquisition of CHENODAL and CHOLBAM.
Total revenue for the third quarter 2023 reached $47.7 million, compared to $18.8 million in the third quarter 2022.
LIVMARLI global net sales for the third quarter 2023 grew 106% compared to the third quarter 2022, reaching $38.7 million.
The acquisition of CHENODAL and CHOLBAM was completed, with $9 million in net sales recorded since the acquisition close on August 31, 2023.
Positive Phase 3 RESTORE study results were announced for CHENODAL in patients with CTX, with an NDA filing expected in the first half of 2024.
Mirum Pharmaceuticals
Mirum Pharmaceuticals
Forward Guidance
Mirum Pharmaceuticals anticipates continued commercial success for LIVMARLI, CHENODAL, and CHOLBAM, with planned international launches and label expansions. The company also expects to advance its pipeline with ongoing clinical studies and regulatory submissions.
Positive Outlook
- Continued commercial success for LIVMARLI, CHENODAL and CHOLBAM
- Planned LIVMARLI launches in additional international markets
- Label expansion into PFIC
- CHENODAL potential full indication in CTX
- Becoming a global leader in rare disease
Challenges Ahead
- Risks and uncertainties associated with Mirum’s business in general
- Impact of the COVID-19 pandemic
- Uncertainties related to the results, conduct and progress of Mirum’s ongoing and planned studies for its product candidates
- Uncertainties related to the regulatory approval path for its product candidates globally
- Assumptions that may never materialize or may prove to be incorrect