NASDAQ$MIRM
Mirum Pharmaceuticals Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Reported financial results for the second quarter of 2021 and provided a business update.
Mirum Pharmaceuticals reported licensing revenue of $11.0 million for Q2 2021, stemming from a collaboration agreement. Total operating expenses were $48.4 million, resulting in a net loss of $43.9 million, or $1.45 per share. The company's cash, cash equivalents, and short-term investments amounted to $238.8 million as of June 30, 2021.
- Entered into an exclusive licensing agreement with GC Pharma to develop and commercialize maralixibat in South Korea.
- Presented maralixibat transplant-free survival data for PFIC2 and long-term safety analyses for ALGS at WCPGHAN Annual Meeting 2021.
- Appointed Carol L. Brosgart, M.D. as an independent director to the Board of Directors.
- FDA has issued a PDUFA date of September 29, 2021, for maralixibat in the U.S.
Headline financials
Revenue & EPS history
Mirum Pharmaceuticals · Revenue · Quarterly
$11M
Revenue by segment
Mirum Pharmaceuticals · $29.1M total across 1 segment · Q1 2023
- Net Product Sales$29.1M—100.0%
Forward guidance
Mirum anticipates potential FDA approval of maralixibat and is advancing its late-stage clinical development pipeline. Topline data from the Phase 3 MARCH PFIC study is expected in the second quarter of 2022.
Tailwinds
- The FDA has issued a PDUFA date of September 29, 2021, and, if approved, Mirum will launch maralixibat in the U.S. representing a commercial opportunity estimated at more than $500 million.
- Marketing authorization application (MAA) for PFIC2 decision expected in early 2022.
- Mirum plans to submit an MAA for ALGS in Europe based on results from the ICONIC study and six-year event-free survival analyses.
- Topline data from the Phase 3 MARCH PFIC study is expected in the second quarter of 2022.
- Enrollment ongoing in the potentially registrational Phase 2b OHANA study for ICP; interim analysis expected in 2022.
Headwinds
- Research and development expenses for the quarter ended June 30, 2021 were $35.0 million, compared to $18.6 million for the comparable prior-year period.
- General and administrative expenses for the second quarter of 2021 were $13.4 million, compared to $5.0 million for the comparable prior-year period.
- For the quarter ended June 30, 2021, Mirum reported a net loss of $43.9 million, or $1.45 per share, compared with a net loss of $23.3 million, or $0.93 per share for the same period in 2020.
- Total operating expenses for the quarter ended June 30, 2021 were $48.4 million, compared to $23.6 million for the second quarter of 2020.
- Change in fair value of derivative liability (1,272 )
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 Q2 2021
+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
| Quarter | Report date | Reaction (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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro