MIRM's Q3 Earnings & Revenues Beat Estimates, 2025 View Tightened

Mirum Pharmaceuticals MIRM reported earnings of 5 cents per share for the third quarter of 2025 against the Zacks Consensus Estimate of a loss of 10 cents. The company had incurred a loss of 30 cents per share in the year-ago quarter.

Revenues in the third quarter totaled $133 million, up almost 47.1% year over year. The figure beat the Zacks Consensus Estimate of $132 million. The top line was driven by the strong growth of its marketed products, Livmarli (maralixibat) and recently acquired bile acid medicines, Cholbam and Ctexli (chenodiol).

Livmarli is approved for treating cholestatic pruritus in patients with Alagille syndrome worldwide. The drug is also approved for treating certain patients with progressive familial intrahepatic cholestasis in the United States and Europe.

Earlier this year, the FDA approved a new tablet formulation of Livmarli for the treatment of cholestatic pruritus in patients with Alagille syndrome and progressive familial intrahepatic cholestasis. The oral tablet was launched in the United States in June and is likely to offer convenience for older patients.

Mirum acquired Travere Therapeutics’ bile acid products in August 2023, which added the latter’s Cholbam capsules and Ctexli tablets to its portfolio of commercialized drugs.

Shares of Mirum have rallied 71.7% so far this year compared with the industry’s rise of 10.9%.

MIRM's Q3 Earnings in Detail

Livmarli’s net product sales were $92 million in the third quarter, reflecting an increase of 56% year over year. Livmarli sales in the United States were $64 million, reflecting strong demand across all indications. In ex-U.S. markets, Livmarli sales were $28 million.

Net product sales of bile acid products, comprising Cholbam and Ctexli tablets, were $40.8 million in the third quarter, reflecting an increase of 31% year over year.

The company did not record any license and other revenues in the reported quarter.

Research and development expenses increased almost 35.6% year over year to $43 million.

Selling, general and administrative expenses totaled $61.9 million, up almost 22.6% from the year-ago quarter’s level.

As of Sept. 30, 2025, Mirum had cash, cash equivalents and investments worth $378 million compared with $321.7 million as of June 30, 2025.

MIRM's 2025 Guidance Tightened

Mirum raised the lower end of its full-year revenue guidance for 2025.

The company now expects revenues to be in the range of $500-$510 million in 2025, compared with the earlier projection of $490-$510 million.

The Zacks Consensus Estimate for total revenues in 2025 currently stands at $508.9 million.

MIRM's Key Pipeline Updates

Mirum is evaluating Livmarli in the phase III EXPAND study for treating pruritus in rare cholestatic conditions. Enrollment in the study is expected to be completed in 2026.

Mirum’s lead pipeline candidate, volixibat, is currently being evaluated in two phase IIb studies for treating patients with primary biliary cholangitis (the VANTAGE study) and primary sclerosing cholangitis (the VISTAS study).

Enrollment in the VISTAS study was completed in September 2025, with top-line data expected to be announced in the second quarter of 2026. The company expects to complete enrollment in the VANTAGE study in 2026.

Mirum recently initiated a phase II study on its newly in-licensed PDE4D inhibitor, MRM-3379, for treating Fragile X syndrome, a rare genetic neurocognitive disorder.

Mirum Pharmaceuticals, Inc. Price, Consensus and EPS Surprise

Mirum Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Mirum Pharmaceuticals, Inc. Quote

MIRM's Zacks Rank & Other Stocks to Consider

Mirum currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the biotech sector are ANI Pharmaceuticals ANIP, Arcutis Biotherapeutics ARQT and Intellia Therapeutics NTLA, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In the past 60 days, estimates for ANI Pharmaceuticals’ earnings per share have increased from $7.25 to $7.29 for 2025. During the same time, earnings per share estimates for 2026 have increased from $7.74 to $7.81. Year to date, shares of ANIP have surged 71.1%.

ANI Pharmaceuticals' earnings beat estimates in each of the trailing four quarters, the average surprise being 22.66%.

In the past 60 days, estimates for Arcutis Biotherapeutics’ loss per share have narrowed from 44 cents to 24 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from 9 cents to 41 cents. Year to date, shares of ARQT have rallied 72.3%.

Arcutis Biotherapeutics’ earnings beat estimates in each of the trailing four quarters, the average surprise being 64.80%.

In the past 60 days, estimates for Intellia’s loss per share have narrowed from $4.15 to $4.11 for 2025. During the same time, loss per share estimates for 2026 have narrowed from $4.12 to $4.07. Year to date, shares of NTLA have gained 4.2%.

Intellia’s earnings beat estimates in each of the trailing four quarters, the average surprise being 6.21%.

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This article originally published on Zacks Investment Research (zacks.com).

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