NASDAQ$MIRM

Mirum Pharmaceuticals Inc · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Mirum Pharmaceuticals reported fourth quarter and year-end 2023 financial results.

Mirum Pharmaceuticals reported net product sales of $178.9 million for the full year 2023, representing 142% growth over 2022.

  • Net product sales totaled $178.9 million, and full year 2023 revenue totaled $186.4 million, delivering 142% growth over 2022 total revenue.
  • 2023 LIVMARLI net product sales totaled $141.8 million, representing approximately 89% growth over 2022 net product sales.
  • International business grew to 18 countries with reimbursed access to LIVMARLI.
  • FDA Prescription Drug User Free Act (PDUFA) date for LIVMARLI in progressive familial intrahepatic cholestasis (PFIC) is March 13, 2024.

Headline financials

Total Revenue

$69.6M

Previous: $27.9M+149.2%
EPS (adj)

-$0.66

Previous: -$0.99+33.3%
R&D Expenses

$30.9M

No prior period
SG&A Expenses

$46.2M

No prior period
Total Operating Expenses

$102M

No prior period
Interest Income

$3.78M

No prior period
Interest Expense

-$3.56M

No prior period
Net Income

-$33.1M

Previous: -$36.4M+9.0%
Operating Income

-$30.1M

Previous: -$34.2M+12.0%
Gross Profit

$47M

Previous: $23.4M+100.5%
R&D Expense

$30.9M

No prior period
Stock-Based Comp

$9.72M

Previous: $6.9M+41.0%

Revenue & EPS history

Mirum Pharmaceuticals · Revenue · Quarterly

$69.6M

Q4 2023+149.2%vs Q4 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 expects continued revenue growth across all approved medicines in 2024 with expected global net product sales of $310 million to $320 million.

Tailwinds

  • Continued revenue growth across all approved medicines is expected in 2024.
  • Expected global net product sales of $310 million to $320 million in 2024.
  • LIVMARLI PFIC PDUFA date on track for March 13, 2024.
  • New Drug Application (NDA) submission for CHENODAL in CTX planned in first half 2024.
  • Volixibat VISTAS and VANTAGE interim analyses expected in first half of 2024

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 Q4 2023

Historical avgQ4 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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