<span item_type="fundamental" item_id="7062c356d9978d11c99afd92590123f2" counter_id="ST/US/MIRM" env="prod"></span><span item_type="announcement" item_id="645580160867703425" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 159, missing the estimate of USD 149.48 M.</p><p></p><h4>Total Revenue</h4><p>Mirum Pharmaceuticals, Inc. reported total revenue of $159.9 million for the first quarter of 2026, an increase from $111.6 million for the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</p><h4>Segment Revenue</h4><ul><li>LIVMARLI® net product sales were $113.8 million in the first quarter of 2026, representing a 55% growth over the first quarter of 2025 net product sales <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Bile Acid Medicines net product sales reached $46.1 million in the first quarter of 2026, showing a 20% growth over the first quarter of 2025 net product sales <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li></ul><h4>Operational Metrics</h4><ul><li>Total operating expenses for the first quarter of 2026 were $949.3 million, significantly up from $126.8 million in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Cost of sales was $28.805 million in the first quarter of 2026, compared to $23.018 million in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Research and Development (R&amp;D) expense was $97.910 million for the first quarter of 2026, an increase from $41.044 million in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Acquired In-Process Research and Development expense was $726.302 million in the first quarter of 2026, compared to $5.000 million in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Selling, General and Administrative (SG&amp;A) expense was $96.330 million in the first quarter of 2026, up from $57.706 million in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>The company reported a loss from operations of - $789.465 million for the first quarter of 2026, a substantial increase from a loss of - $15.183 million in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Mirum Pharmaceuticals, Inc. incurred a net loss of - $790.155 million in the first quarter of 2026, compared to a net loss of - $14.677 million in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Net loss per share, basic and diluted, was - $13.43 for the first quarter of 2026, compared to - $0.30 for the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li></ul><h4>Cash and Investments</h4><ul><li>As of March 31, 2026, unrestricted cash, cash equivalents, and investments totaled $420.6 million, an increase from $391.4 million as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Cash and cash equivalents were $324.907 million as of March 31, 2026, compared to $296.683 million as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Short-term investments were $61.352 million as of March 31, 2026, down from $86.644 million as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Long-term investments were $34.353 million as of March 31, 2026, up from $8.105 million as of December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li></ul><h4>Unique Metrics</h4><ul><li>Non-recurring in-process research and development (IPR&amp;D) expense associated with the acquisition of Bluejay Therapeutics was $726.3 million in Q1 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>Non-recurring stock-based compensation expense associated with the acquisition of Bluejay Therapeutics was $34.7 million in Q1 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li><li>An upfront payment of $16 million was made for the exclusive worldwide license to zilurgisertib <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</li></ul><h4>Outlook / Guidance</h4><p>Mirum Pharmaceuticals, Inc. increased its 2026 net product sales guidance to a range of $660 million to $680 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>. The company anticipates a U.S. NDA submission for volixibat in the second half of 2026 and expects topline results for brelovitug AZURE-1 and AZURE-4 Phase 3 studies in the second half of 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>. Additionally, topline results for the LIVMARLI EXPAND Phase 3 study are expected in the fourth quarter of 2026, with VANTAGE study results now anticipated in the first quarter of 2027 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1759425/000175942526000036/mirm-20260506xexx991.htm"></span>.</p>

Mirum Pharmaceuticals | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 159