Business
Mirum Pharmaceuticals Reports Second Quarter 2023 Financial Results and Provides Business Update
- $37.5 million total revenue, including net product sales for LIVMARLI® (maralixibat) oral solution of $32.5 million, for second quarter 2023 - Acquiring
About this update from Mirum Pharmaceuticals, Inc.
[{"type":"text","content":"\n- $37.5 million total revenue, including net product sales for LIVMARLI® (maralixibat) oral solution of $32.5 million, for second quarter 2023\n- Acquiring CHENODAL® and CHOLBAM®, advancing Mirum’s leadership in pediatric hepatology with a multi-product franchise\n- Four late-stage clinical trial data readouts expected later this year\n- Conference call to provide business updates today, August 3 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 second quarter 2023 and provided a business update.\n\n\n“Our goal is to continue to bring life-changing medicines to patients with rare disease. Use of LIVMARLI in Alagille Syndrome continues to grow with strong adoption worldwide and we are looking forward to multiple regulatory and pipeline catalysts in the second half of the year,” said Chris Peetz, president and chief executive officer at Mirum. “Our recently announced agreement to acquire the rights to CHENODAL and CHOLBAM along with sponsorship of the cholestatic genetic testing program is a strong synergistic fit with Mirum’s expertise in rare and underserved liver diseases and will expand our commercial presence for LIVMARLI. With these products, which we expect will add over $100 million in annual net sales to our growing top line following completion of the acquisition, we have enhanced both our ability to impact patients with debilitating rare liver diseases and our partnership with the pediatric hepatology community.”\n\n\nPending acquisition of CHENODAL and CHOLBAM to establish a leading rare pediatric hepatology franchise\n\n\n\nEntered into a definitive agreement with Travere Therapeutics to acquire all rights and assets related to two therapies approved in the U.S., CHENODAL and CHOLBAM.\n\n\n\nMirum to pay $210 million upfront and up to $235 million in potential tiered annual net sales-based milestones.\n\n\n\nEntered into a definitive agreement for the sale of $210 million of common stock in a private placement to fund the up-front acquisition payment.\n\n\n\nTopline data from the Phase 3 RESTORE study, evaluating CHENODAL in patients with Cerebrotendinous Xanthomatosis (CTX), expected in Q4 2023.\n\n\n\n\n\nLIVMARLI: Continued growth in Alagille syndrome (ALGS) worldwide net sales and progressive familial intrahe...