MIRM

Mirum Pharmaceuticals, Inc.

Recommendation Details

PortfolioLargecap Short

DateNov 12, 2026

ForecastQ Daily Probabilities

58.7%

26.0%

12.4%

Company Description

Mirum Pharmaceuticals, Inc. is a biopharmaceutical firm dedicated to discovering and commercializing groundbreaking therapies for serious rare and orphan conditions. Its lead experimental drug, LIVMARLI, an oral treatment, is currently undergoing trials for progressive familial intrahepatic cholestasis (PFIC), Alagille syndrome, and biliary atresia. Furthermore, the company is advancing Volixibat to address intrahepatic cholestasis of pregnancy and primary sclerosing cholangitis. Founded in 2018, Mirum Pharmaceuticals, Inc. operates from its headquarters in Foster City, California.

Recent News & Events

Positive AZURE-4 Phase 3 topline win (second pivotal HDV study) de-risks brelovitug BLA path and is the dominant near-term catalyst, reinforced by strong Q3 sales and raised guidance; net sentiment positive.

Clinical Trial Results

AZURE-4 Phase 3 meets primary endpoint in chronic HDV

Mirum announced that the Phase 3 AZURE-4 study of brelovitug met its primary endpoint at Week 24, with 59% (300 mg QW) and 44% (900 mg Q4W) of patients achieving combined virologic response plus ALT normalization versus 0% in the delayed-treatment arm (p<=0.0001). AZURE-4 is the second of two pivotal studies supporting the U.S. registration package, materially de-risking the brelovitug BLA planned for H1 2027 and likely driving a positive near-term stock reaction.

SEC Filing (8-K)

Clinical Data Presentation

Long-term brelovitug data presented at AASLD The Liver Meeting

Across three AASLD presentations, brelovitug data showed deepening viral suppression, increased ALT normalization, and improved liver stiffness with longer treatment, including in advanced cirrhosis patients. Reinforces durability/efficacy narrative and supports the registration thesis, adding incremental positive sentiment around the AZURE-4 readout.

SEC Filing (8-K)

Earnings Report

Q3 2026 results beat with raised full-year sales guidance

Mirum reported Q3 2026 net product sales of $185.7M (up from $133.0M a year earlier) and raised 2026 net product sales guidance to $715M-$720M. Strong commercial execution (LIVMARLI +45% YoY) plus the ATEBRIOZ FOP launch support the growth story and underpin positive sentiment.

Mirum Press Release

Conference Presentation

Management commentary at Stifel Healthcare Conference

At the Stifel 2026 Healthcare Conference, management discussed broadening growth, LIVMARLI penetration above 50% in Alagille with room to expand, negative H2 cash flow from R&D spending, and a return to cash flow positivity in 2027. Provides forward-looking color that may modestly influence sentiment around the growth and cash runway trajectory.

Investing.com

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Company Information

Recommendation Details

Company Description

Recent News & Events

AZURE-4 Phase 3 meets primary endpoint in chronic HDV

Long-term brelovitug data presented at AASLD The Liver Meeting

Q3 2026 results beat with raised full-year sales guidance

Management commentary at Stifel Healthcare Conference