The chart below shows how MIRM performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MIRM sees a +0.36% change in stock price 10 days leading up to the earnings, and a -1.97% change 10 days following the report. On the earnings day itself, the stock moves by -1.27%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Sales Exceed Guidance: Mirum Pharmaceuticals achieved total net product sales of $336.4 million in 2024, exceeding the upper-end of their revised guidance range.
Strong Sales Growth: LIVMARLI generated total net product sales of $213 million in 2024, with strong growth driven by new patient starts and international uptake.
FDA Approval for CTX Treatment: The FDA approved CTEXLI for cerebrotendinous xanthomatosis (CTX), allowing for promotional efforts to reach patients in this under-diagnosed condition.
Projected Revenue Increase: The company expects to add close to $100 million to their top-line in 2025, with anticipated net product sales between $420 million and $435 million.
LIVMARLI Label Expansion: Mirum expanded LIVMARLI's label with its approval for PFIC in both the US and Europe, enhancing its market potential.
Breakthrough Designation Achieved: Positive interim results for Volixibat in both VISTAS PSC and VANTAGE PBC studies were reported, leading to breakthrough designation in PBC.
LIVMARLI Enrollment Progress: The Phase 3 EXPAND study of LIVMARLI is on track to complete enrollment in 2026, targeting cholestatic pruritus, a significant growth opportunity.
Phase 2 Study Initiation: MRM-3379 for Fragile X syndrome is set to initiate a Phase 2 study this year, addressing a high unmet need in rare genetic neurology.
Strong Financial Position: The company ended 2024 with cash, cash equivalents, and investments of $293 million, indicating a strong financial position.
Positive Cash Flow Outlook: Mirum expects to maintain positive cash flow in 2025, supported by their strong performance and well-funded resources.
Negative
High Operating Expenses: Total operating expenses for 2024 were $424.5 million, which is significantly high and includes substantial R&D and SG&A expenses.
Stock-Based Compensation Impact: Despite a strong revenue growth, the company incurred a non-cash stock-based compensation expense of $48.4 million, which could impact profitability.
Sales Increase vs. Expenses: The company reported a net product sales increase, but the overall operating expenses outpaced revenue growth, indicating potential financial strain.
License Payment Impact: The upfront payment of $7.5 million for the MRM-3379 license adds to the financial burden, raising concerns about cash flow management.
Cash Flow and Revenue Risks: While the company expects positive cash flow in 2025, the reliance on continued revenue growth to sustain this is a risk, especially in the competitive pharmaceutical market.
Mirum Pharmaceuticals, Inc. (MIRM) Q4 2024 Earnings Call Transcript
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