Business
Mirum Pharmaceuticals Reports First Quarter 2024 Financial Results and Provides Business Update
- First quarter 2024 total revenue of $69.2 million, on track to achieve full-year guidance of $310 to $320 million - FDA approval of LIVMARLI for
About this update from Mirum Pharmaceuticals, Inc.
[{"type":"text","content":"\n- First quarter 2024 total revenue of $69.2 million, on track to achieve full-year guidance of $310 to $320 million\n- FDA approval of LIVMARLI for cholestatic pruritus in PFIC patients achieved in March\n- Volixibat VISTAS and VANTAGE interim analyses scheduled for June of 2024\n- Cash balance of $302.8 million as of March 31, 2024\n- Conference call to provide business updates today, May 8 at 1:30 p.m. PT/4:30 p.m. ET\n\n\n FOSTER CITY, Calif.--(BUSINESS WIRE)--\nMirum Pharmaceuticals, Inc. (Nasdaq: MIRM) today reported financial results for first quarter 2024 and provided a business update.\n\n\n“In the first quarter, we made great progress across a number of our strategic objectives that support both the near- and long-term growth of Mirum while maintaining a strong financial position,” said Chris Peetz, chief executive officer at Mirum. “Our commercial business is performing well, and we saw continued growth in demand for LIVMARLI globally putting us on track for our total revenue guidance target for the year. The FDA’s approval of LIVMARLI for cholestatic pruritus in patients with PFIC was also an important step in bringing our high impact medicines to the rare disease patient community. We look forward to continuing this momentum with our upcoming NDA submission for CHENODAL in CTX, and important interim analyses in our PSC and PBC studies in June.”\n\n\nCommercial: Continued demand growth and reiterate full year guidance of $310-$320 million\n\n\n\nFirst quarter 2024 global product sales, net of $68.9 million grew 137% compared to first quarter 2023.\n\n\n\nLIVMARLI first quarter net sales were $42.8 million, representing 47% growth compared to first quarter 2023.\n\n\n\nLIVMARLI approved in the US for treatment of cholestatic pruritus in patients with PFIC.\n\n\n\nFirst quarter 2024 CHOLBAM and CHENODAL net sales were $26.1 million.\n\n\n\nRegulatory and Pipeline: H1 Milestones on track\n\n\n\nInterim analyses for volixibat in PSC (VISTAS study) and in PBC (VANTAGE study) expected in June of 2024.\n\n\n\nNew Drug Application (NDA) submission for CHENODAL in CTX on track for first half 2024.\n\n\n\nPFIC CHMP approval recommendation anticipated in the first half of 2024.\n\n\n\nCorporate and Financial: Strong balance sheet\n\n\n\nTotal revenue for the quarter ended March 31, 2024, was $69.2 million compared to $31.6 mil...