MIRM

MKT CAP:$5B

Mirum Pharmaceuticals, Inc.

Market Cap

$5B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$93.35+$15.28 (+19.58%)

Apr 23, 2026

Company Details

Mirum Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. The company's lead product candidate is LIVMARLI, an investigational or...

CEO

Christopher Peetz

IPO Date

Jul 18, 2019

Website

www.mirumpharma.com

Key Metrics TTM

Revenue

$521M

+54.7% YoY

Net Income

-$23M

EPS (Diluted)

-$0.49

Free Cash Flow

$55M

Revenue / Share

$10.39

Gross Margin

80.8%

Operating Margin

-4.2%

Net Margin

-4.5%

FCF Margin

10.5%

P/S

8.8x

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 25, 2026

$521M+54.7%EPS -$0.47

Q4 2025

Feb 25, 2026

$149M+49.8%EPS -$0.12

Q3 2025

Nov 4, 2025

$133M+47.2%EPS $0.05

Q2 2025

Aug 6, 2025

$128M+64.1%EPS -$0.12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$13M	$10M	-$33M
Q2 22	$17M	$15M	-$31M
Q3 22	$19M	$16M	-$33M
Q4 22	$28M	$23M	-$34M
Q1 23	$32M	$27M	-$27M
Q2 23	$37M	$31M	-$24M
Q3 23	$48M	$37M	-$25M
Q4 23	$70M	$45M	-$33M
Q1 24	$69M	$51M	-$26M
Q2 24	$78M	$58M	-$24M
Q3 24	$90M	$70M	-$13M
Q4 24	$99M	$77M	-$24M
Q1 25	$112M	$89M	-$15M
Q2 25	$128M	$104M	-$5M
Q3 25	$133M	$107M	$3M
Q4 25	$149M	$121M	-$5M

Valuation

Quarter	P/S	P/E
Q1 22	21.0x	—
Q2 22	15.8x	—
Q3 22	15.3x	—
Q4 22	9.8x	—
Q1 23	9.9x	—
Q2 23	9.1x	—
Q3 23	9.5x	—
Q4 23	7.1x	—
Q1 24	5.3x	—
Q2 24	6.1x	—
Q3 24	6.0x	—
Q4 24	5.8x	—
Q1 25	5.7x	—
Q2 25	5.8x	—
Q3 25	7.7x	—
Q4 25	8.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$40M	-$40M
Q2 22	-$20M	-$20M
Q3 22	-$26M	-$26M
Q4 22	-$34M	-$35M
Q1 23	-$19M	-$34M
Q2 23	-$17M	-$17M
Q3 23	-$18M	-$18M
Q4 23	-$17M	-$22M
Q1 24	$15M	$15M
Q2 24	-$4M	-$15M
Q3 24	$4M	-$6M
Q4 24	-$5M	-$5M
Q1 25	-$2M	-$2M
Q2 25	$12M	$12M
Q3 25	$40M	$39M
Q4 25	$6M	$5M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$17.0K
Q3 22	$19.0K
Q4 22	$242.0K
Q1 23	$15M
Q2 23	$68.0K
Q3 23	$0
Q4 23	$5M
Q1 24	$13.0K
Q2 24	$11M
Q3 24	$10M
Q4 24	$20.0K
Q1 25	$41.0K
Q2 25	$126.0K
Q3 25	$187.0K
Q4 25	$600.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	-4.2%
Q2 22	+58.9%	+1.1%
Q3 22	+275.6%	+8.0%
Q4 22	+789.3%	+27.4%
Q1 23	+145.1%	+28.7%
Q2 23	+114.5%	+26.3%
Q3 23	+154.1%	+41.1%
Q4 23	+149.2%	+64.6%
Q1 24	+119.1%	+62.9%
Q2 24	+107.7%	+65.3%
Q3 24	+89.4%	+41.4%
Q4 24	+42.9%	+21.0%
Q1 25	+61.2%	+32.5%
Q2 25	+64.1%	+30.0%
Q3 25	+47.2%	+26.5%
Q4 25	+49.8%	+24.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$7M	50.9%
Q2 22	$7M	39.0%
Q3 22	$7M	35.8%
Q4 22	$7M	24.7%
Q1 23	$9M	27.1%
Q2 23	$8M	22.3%
Q3 23	$8M	17.6%
Q4 23	$10M	14.0%
Q1 24	$11M	16.5%
Q2 24	$12M	15.2%
Q3 24	$12M	13.2%
Q4 24	$13M	13.3%
Q1 25	$16M	14.2%
Q2 25	$18M	14.5%
Q3 25	$18M	13.6%
Q4 25	$19M	12.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$24M	—	—	$19M
Q2 22	$25M	$21M	—	—
Q3 22	$26M	—	—	$23M
Q4 22	$31M	$17M	$10M	—
Q1 23	$24M	—	—	$30M
Q2 23	$22M	$33M	—	—
Q3 23	$26M	—	—	$37M
Q4 23	$31M	—	—	$46M
Q1 24	$32M	—	—	$46M
Q2 24	$33M	$41M	$8M	—
Q3 24	$32M	—	—	$51M
Q4 24	$44M	—	—	$57M
Q1 25	$46M	—	—	$58M
Q2 25	$46M	—	—	$63M
Q3 25	$43M	—	—	$62M
Q4 25	$51M	—	—	$74M

Revenue Segments

Quarter	License	Product	License and Other Revenue
Q1 22	$2M	$11M	—
Q2 22	—	$17M	—
Q3 22	—	$19M	—
Q4 22	—	$28M	—
Q1 23	$3M	$29M	—
Q2 23	$5M	$32M	—
Q4 23	—	$70M	—
Q1 24	—	$69M	$305.0K
Q2 24	—	$78M	$115.0K
Q3 24	—	$90M	$75.0K
Q1 25	—	$112M	—
Q2 25	—	$128M	—
Q3 25	—	$133M	—
Q4 25	—	$149M	—

Revenue by Geography

Quarter	Rest Of World	United States
Q1 24	$13M	$56M
Q2 24	$13M	$65M
Q3 24	$16M	$74M
Q1 25	$25M	$87M
Q2 25	$32M	$96M
Q3 25	$29M	$104M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$46M	$94M	$140M
Q2 22	$55M	$70M	$125M
Q3 22	$36M	$150M	$185M
Q4 22	$28M	$124M	$152M
Q1 23	$49M	$83M	$132M
Q2 23	$297M	$33M	$330M
Q3 23	$303M	$3M	$306M
Q4 23	$286M	$0	$286M
Q1 24	$303M	$0	$303M
Q2 24	$233M	$45M	$278M
Q3 24	$223M	$61M	$284M
Q4 24	$223M	$58M	$280M
Q1 25	$212M	$66M	$278M
Q2 25	$228M	$76M	$305M
Q3 25	$282M	$94M	$376M
Q4 25	$297M	$87M	$383M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	31M	+2.3%	+4.0%
Q2 22	32M	+2.8%	+6.3%
Q3 22	35M	+8.5%	+15.0%
Q4 22	38M	+7.4%	+22.7%
Q1 23	38M	+0.4%	+20.4%
Q2 23	38M	+1.1%	+18.4%
Q3 23	41M	+7.9%	+17.7%
Q4 23	47M	+13.7%	+24.5%
Q1 24	47M	+0.4%	+24.6%
Q2 24	47M	+0.7%	+24.0%
Q3 24	48M	+1.2%	+16.3%
Q4 24	48M	+1.2%	+3.5%
Q1 25	49M	+1.1%	+4.2%
Q2 25	50M	+1.7%	+5.3%
Q3 25	57M	+14.6%	+19.3%
Q4 25	50M	-11.9%	+3.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$94.1K	137
Q2 22	$127.6K	137
Q3 22	$137.1K	137
Q4 22	$142.4K	196
Q1 23	$161.2K	196
Q2 23	$191.3K	196
Q3 23	$243.5K	196
Q4 23	$263.5K	264
Q1 24	$262.2K	264
Q2 24	$295.0K	264
Q3 24	$342.3K	264
Q4 24	$308.7K	322
Q1 25	$346.5K	322
Q2 25	$396.8K	322
Q3 25	$413.1K	322
Q4 25	$2.8K	54K

Revenue / Employee