Mirum Pharmaceuticals, Inc. · NASDAQ:MIRM
Mirum Pharmaceuticals — Merger or Acquisition (December 2025)
10 slides from Mirum Pharmaceuticals's merger presentation, Dec 8, 2025
Slide 1: Mirum Pharmaceuticals: Transforming Lives in Rare Disease
Mirum Pharmaceuticals: Transforming Lives in Rare Disease M i r u m t o A c q u i r e B l u e j a y T h e r a p e u t i c s D e c e m b e r 2 0 2 5
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking" statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements other than statements of historical fact contained in
Slide 3: Mirum: Delivering Growth and Patient Impact in Rare Disease
Mirum: Delivering Growth and Patient Impact in Rare Disease + Proposed Acquisition of Bluejay Therapeutics 1 CAGR Operationally Efficient 4 Potentially Registrational ~108% $4B+ >50% Commercial Margins6 Topline Readouts Expected in Next 18 months2 2022 2023 2024 Disciplined Execution AZURE Unlocking
Slide 4: Mirum: Bluejay Therapeutics Acquisition Opportunity
Mirum: Bluejay Therapeutics Acquisition Opportunity Advances Leadership Acquisition Deal Terms $750M+ $250M Cash | $370M Stock2 in Rare Liver Disease Est. Brelovitug HDV Revenue Potential +Up to $200M Tiered Sales Milestones Hepatitis Delta Virus Brelovitug Mirum remains financially Large orphan set
Slide 5: Commercial Portfolio with Pipeline of Growth Opportunities
Commercial Portfolio with Pipeline of Growth Opportunities 3 APPROVED RARE DISEASE MEDICINES, 5 ADDITIONAL INDICATIONS IN DEVELOPMENT IN HIGH-NEED ORPHAN INDICATIONS Indication Preclinical Phase 1 Phase 2 and Phase 3 Approved Alagille Syndrome (ALGS)1 FDA and EMA approved Progressive Familial Intrah
Slide 6: HDV Is The Most Severe Form Of Viral Hepatitis
HDV Is The Most Severe Form Of Viral Hepatitis No Approved Therapies in the US Hepatitis Delta Virus >50% Liver-Related Death in 10 Years1 ~15,000~ US pts diagnosed, insured, under care4 5yrs Avg. Progression to Cirrhosis and Liver Failure2 ~40,000 Est. US Prevalence Requires Hepatitis B coinfection
Slide 7: Brelovitug: Preliminary Efficacy and Favorable Safety Profile in HDV
Brelovitug: Preliminary Efficacy and Favorable Safety Profile in HDV Brelovitug Phase 2 Study Results High rate of virologic response and ALT normalization at 48wks1 Virologic Response Virologic response + ALT normalization (HDV RNA ≥2 log reduction or TND) Fully human anti-HBsAg monoclonal antibody
Slide 8: Brelovitug: Ongoing Phase 3 Trials Supporting FDA and EMA Filings
Brelovitug: Ongoing Phase 3 Trials Supporting FDA and EMA Filings All Studies Enrolling 24wk FDA Registration AZURE 1 n=150 2:2:1 300mg 1x Weekly vs 900mg 1x Monthly vs Delayed Tx Start Extension (96wks) Delayed Tx→ 300mg 1x Weekly Enabling Studies Interim Analysis Primary Endpoint n=50 Week 24 Viro
Slide 9: Well-Positioned to Execute on Our Planned Strategy
Well-Positioned to Execute on Our Planned Strategy 4 potentially registrational topline readouts expected in the next 18 months1 2026 2027 2025 FY Guidance ❑ VISTAS (PSC) topline results in Q2 ❑ Volixibat PSC Approval/Launch in H1 ❑ AZURE-1 (HDV) Interim Analysis in Q22 ❑ EXPAND topline results in H
Slide 10: Thank You
Thank You ©2025 Mirum Pharmaceuticals, Inc. All rights reserved. All service marks, trademarks and tradenames appearing in this presentation are the property of their respective owners. Solely for convenience, the trademarks and tradenames referred to in this presentation appear without the ® and sy
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