Is Mirum Pharmaceuticals on a Strong Path to Profitability?

Mirum Pharmaceuticals (NASDAQ: MIRM), a mid-cap biotech, performed good past twelvemonth and is maintaining that momentum truthful acold successful 2026. The company's shares person much than doubled implicit the trailing 12-month period.

However, arsenic is astir ever the lawsuit with smaller drugmakers, Mirum Pharmaceuticals isn't consistently profitable. If it tin marque coagulated advancement toward that extremity (and elsewhere), the banal mightiness beryllium worthy investing successful today. Is Mirum adjacent to posting accordant greenish connected the bottommost line?

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Mirum Pharmaceuticals is simply a biotech that markets therapies for underserved diseases. The institution developed Livmarli, a attraction for terrible itching successful patients with Alagille syndrome, a uncommon information that tin pb to liver damage. Mirum's lineup besides included Cholbam, a medicine indicated for the attraction of bile acerb disorders, and Chenodal, which helps dainty gallstones successful patients undergoing gallbladder surgery. Mirum Pharmaceuticals acquired Cholbam and Chenodal from Travere Therapeutics successful 2023.

Through the archetypal 9 months ended Sept. 30, 2025, Mirum Pharmaceuticals generated $372.4 cardinal successful revenue, up 56.8% twelvemonth implicit year. The institution remained unprofitable implicit this period, reporting a nonaccomplishment per stock of $0.35, overmuch amended than the $1.36 nonaccomplishment per stock successful the year-ago period.

However, looking solely astatine the 3rd quarter, Mirum turned successful a uncommon nett net of $2.9 million, compared with a nett nonaccomplishment of $14.2 cardinal successful the prior-year quarter. With overmuch narrower nett losses implicit the nine-month play and a nett income successful Q3, Mirum Pharmaceuticals does look to beryllium making strides toward profitability.

Mirum's apical enactment should support moving successful the close direction. It expects $520 cardinal successful nett merchandise income for the afloat 2025 fiscal twelvemonth (excluding imaginable licence revenue), truthful its full gross would turn by astatine slightest 54.4% compared to 2024. But enactment that for 2026, Mirum Pharmaceuticals is guiding for nett income of $630 cardinal to $650 million, oregon income maturation of 23.1% astatine the midpoint compared to 2025.

The institution precocious completed the acquisition of privately held Bluejay Therapeutics for $620 cardinal successful a premix of currency and stock, positive income milestones that could scope up to $200 million. This transaction volition apt harm Mirum's bottommost enactment successful the abbreviated word owed to acquisition-related costs. It could boost some gross and net successful the agelong tally by expanding its merchandise lineup.