---
title: "Mirum Pharmaceuticals | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 159"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285477288.md"
datetime: "2026-05-07T03:13:59.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285477288.md)
  - [en](https://longbridge.com/en/news/285477288.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285477288.md)
---

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

Revenue: As of FY2026 Q1, the actual value is USD 159, missing the estimate of USD 149.48 M.

#### Total Revenue

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 .

#### Segment Revenue

-   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 .
-   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 .

#### Operational Metrics

-   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 .
-   Cost of sales was $28.805 million in the first quarter of 2026, compared to $23.018 million in the first quarter of 2025 .
-   Research and Development (R&D) expense was $97.910 million for the first quarter of 2026, an increase from $41.044 million in the first quarter of 2025 .
-   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 .
-   Selling, General and Administrative (SG&A) expense was $96.330 million in the first quarter of 2026, up from $57.706 million in the first quarter of 2025 .
-   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 .
-   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 .
-   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 .

#### Cash and Investments

-   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 .
-   Cash and cash equivalents were $324.907 million as of March 31, 2026, compared to $296.683 million as of December 31, 2025 .
-   Short-term investments were $61.352 million as of March 31, 2026, down from $86.644 million as of December 31, 2025 .
-   Long-term investments were $34.353 million as of March 31, 2026, up from $8.105 million as of December 31, 2025 .

#### Unique Metrics

-   Non-recurring in-process research and development (IPR&D) expense associated with the acquisition of Bluejay Therapeutics was $726.3 million in Q1 2026 .
-   Non-recurring stock-based compensation expense associated with the acquisition of Bluejay Therapeutics was $34.7 million in Q1 2026 .
-   An upfront payment of $16 million was made for the exclusive worldwide license to zilurgisertib .

#### Outlook / Guidance

Mirum Pharmaceuticals, Inc. increased its 2026 net product sales guidance to a range of $660 million to $680 million . 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 . 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 .

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