NASDAQ$MIRM

Mirum Pharmaceuticals Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Mirum Pharmaceuticals' Q1 2023 financial performance was reported, featuring revenue growth and advancements in LIVMARLI's commercialization and label expansion.

Mirum Pharmaceuticals reported a strong start to 2023, with total revenue of $31.6 million, including $29.1 million in net product sales for LIVMARLI. The company is progressing with the global commercial launch of LIVMARLI, label expansions, and pipeline milestones.

  • Total revenue reached $31.6 million, including $29.1 million from LIVMARLI net product sales.
  • LIVMARLI's U.S. label was expanded to include infants three months of age and older for Alagille syndrome.
  • Regulatory submissions for LIVMARLI in PFIC are under review in the U.S. and Europe.
  • Three data catalysts are expected in the second half of 2023 for LIVMARLI in biliary atresia and volixibat in primary sclerosing cholangitis and primary biliary cholangitis.

Headline financials

Total Revenue

$31.6M

Previous: $12.9M+145.1%
EPS (adj)

-$0.80

Previous: -$1.17+31.6%
Capital Expenditures

-$41K

Previous: $0.00
Free Cash Flow

-$30.2M

Previous: -$36.6M+17.6%
Net Income

-$30.1M

Previous: -$36.6M+17.7%
Operating Income

-$27.1M

Previous: -$32.7M+17.1%
Gross Profit

$26.6M

Previous: $10.5M+154.3%
Cash & Equivalents

$232M

Previous: $240M-3.3%
Total Assets

$334M

Previous: $278M+19.9%
Stock-Based Comp

$8.56M

Previous: $6.56M+30.5%

Revenue & EPS history

Mirum Pharmaceuticals · Revenue · Quarterly

$31.6M

Q1 2023+145.1%vs Q1 2022
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Mirum Pharmaceuticals · $29.1M total across 1 segment · Q1 2023

  • Net Product Sales
    $29.1M

Forward guidance

Mirum Pharmaceuticals is focused on continued commercial success for LIVMARLI, including growth in year-over-year net product sales, LIVMARLI label expansion in the U.S. and Europe, the results, conduct and progress of Mirum’s ongoing and planned studies for its product candidates, including the receipt and timing of planned data readouts, the delivery of LIVMARLI to more patients, and the regulatory approval path for its product candidates globally.

Tailwinds

  • Continued commercial success for LIVMARLI
  • Growth in year over year net product sales
  • LIVMARLI label expansion in the U.S. and Europe
  • Results, conduct and progress of Mirum’s ongoing and planned studies for its product candidates, including the receipt and timing of planned data readouts
  • Delivery of LIVMARLI to more patients, and the regulatory approval path for its product candidates globally.

Headwinds

  • Risks and uncertainties associated with Mirum’s business in general
  • Adverse macroeconomic and geopolitical developments
  • Risks described in Mirum’s filings with the Securities and Exchange Commission
  • The forward-looking statements are based upon Mirum’s current expectations and involve assumptions that may never materialize or may prove to be incorrect.
  • Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+1.7%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+2.9%

Avg return

30 days after

59%

16 / 27 earnings

Positive

+26.4%

Q2 2022

Best reaction

-16.2%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.0%+0.2%-11.7%
Q4 2025-15.1%-19.2%-18.6%
Q3 2025-1.4%-1.8%-3.5%
Q1 2025+9.9%+9.8%+12.5%
Q4 2024-7.0%-10.5%-9.0%
Q3 2024+5.6%+6.9%+1.6%
Q2 2024+1.8%+14.3%+5.0%
Q1 2024-0.3%-4.4%-3.2%
Q4 2023-3.0%-3.1%-15.2%
Q3 2023+5.6%+5.6%+12.6%
Q2 2023+6.1%+2.1%+6.1%
Q1 2023-8.3%-7.9%-7.9%
Q4 2022-1.1%-4.7%+5.1%
Q3 2022-16.2%-19.7%-24.1%
Q2 2022+26.4%+18.0%+7.4%
Q1 2022+7.1%-4.4%+7.0%
Q4 2021+3.3%+1.5%+29.5%
Q3 2021+0.1%-1.2%-7.9%
Q2 2021+0.5%-4.0%+23.0%
Q1 2021-1.4%-6.3%-10.8%
Q4 2020+6.0%+14.3%+10.2%
Q3 2020+11.6%+16.9%+48.0%
Q2 2020+13.0%+15.3%-4.3%
Q1 2020+0.1%+6.2%+10.8%
Q4 2019+8.1%-10.5%+25.7%
Q3 2019-0.1%+4.0%+22.6%
Q2 2019-9.0%-10.3%-31.5%
Q1 2019
Q4 2018
Q3 2018

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