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Sep 30, 2025
Mirum Pharmaceuticals Q3 2025 Earnings Report
Mirum Pharmaceuticals reported its financial results for the third quarter of 2025, highlighting strong commercial momentum and pipeline progress.
Key Takeaways
Mirum Pharmaceuticals delivered a strong third quarter in 2025, with total revenue reaching $133 million, driven by robust sales of LIVMARLI and Bile Acid Medicines. The company also made significant advancements in its pipeline, completing enrollment for the VISTAS study and initiating a new Phase 2 study for Fragile X Syndrome, while maintaining financial discipline.
Total revenue for Q3 2025 was $133 million, a significant increase from the previous year.
LIVMARLI net product sales grew by 56% year-over-year to $92.2 million.
Bile Acid Medicines net product sales increased by 31% year-over-year to $40.8 million.
The company updated its full-year 2025 revenue guidance to $500 million to $510 million.
Revenue by Segment
Forward Guidance
Mirum Pharmaceuticals updated its full-year 2025 revenue guidance to a range of $500 million to $510 million, reflecting continued strong commercial performance. The company also anticipates key pipeline readouts in 2026 and 2027.
Positive Outlook
- Updated 2025 revenue guidance to $500 million to $510 million, indicating strong expected full-year performance.
- Phase 2b VISTAS study in PSC enrollment is complete, with topline data expected in Q2 2026.
- Volixibat VANTAGE study in PBC expected to complete enrollment in 2026, with topline data in H1 2027.
- LIVMARLI EXPAND Phase 3 study expected to complete enrollment in 2026, with topline data in H1 2027.
- Initiated a Phase 2 study for MRM-3379 in Fragile X Syndrome, expanding the pipeline.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- The company did not provide specific guidance on expenses or profitability for the full year.
- Future clinical trial results are subject to inherent risks and uncertainties.
Historical Earnings Impact
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