Mirum Pharmaceuticals, Inc. (MIRM) Bundle
A Brief History of Mirum Pharmaceuticals, Inc. (MIRM)
Foundation and Early Years
Mirum Pharmaceuticals, Inc. was established in 2018 by a team of experienced professionals in the biopharmaceutical industry. The company focused on developing innovative therapies for patients with rare and debilitating diseases. Initially, the company was centered on developing therapies for cholestatic liver diseases.
Initial Public Offering
On October 15, 2020, Mirum Pharmaceuticals went public with an initial public offering (IPO) that raised approximately $125 million. The stock was priced at $16 per share and began trading on the Nasdaq under the ticker symbol MIRM.
Key Product Development
Mirum's lead product candidate, Maralixibat, received attention for its potential in treating Alagille syndrome and other cholestatic liver diseases. In January 2021, Mirum announced that it had submitted a New Drug Application (NDA) to the FDA for Maralixibat.
Regulatory Milestones
In July 2021, the FDA accepted the NDA for Maralixibat and assigned a Priority Review designation. The FDA granted approval for the treatment on May 27, 2022, making it the first FDA-approved therapy for Alagille syndrome.
Financial Performance
As of Q2 2022, Mirum reported revenue of $12 million from Maralixibat sales. For the fiscal year 2022, the projected revenue was estimated to reach approximately $50 million.
Recent Developments
In September 2023, Mirum announced promising data from a Phase 2 clinical trial evaluating Maralixibat in pediatric patients with Alagille syndrome. The trial results showed a significant improvement in pruritus scores and liver function parameters.
Investment and Collaboration
Mirum has secured significant investments to support its development pipeline. In November 2022, the company raised $75 million through a private placement to fund ongoing clinical trials and expansion efforts.
Stock Performance
Following its IPO, MIRM shares experienced volatility, with the stock price reaching a low of $7.50 and a high of $27.00 within the first year of trading. As of October 2023, the stock price was approximately $18.50.
| Year | Key Event | Financial Data |
|---|---|---|
| 2018 | Foundation of Mirum Pharmaceuticals | N/A |
| 2020 | IPO, raised $125 million | Share price: $16 |
| 2021 | NDA submission for Maralixibat | N/A |
| 2022 | FDA approval of Maralixibat | Revenue: $12 million (Q2) |
| 2023 | Positive Phase 2 trial results | Stock price: $18.50 |
Future Outlook
Mirum continues to focus on expanding its pipeline with additional indications for Maralixibat and other novel therapies targeting rare diseases. The company is also exploring international markets for its approved products.
A Who Owns Mirum Pharmaceuticals, Inc. (MIRM)
Current Ownership Structure
As of the latest filings, the major shareholders of Mirum Pharmaceuticals, Inc. (MIRM) include institutional investors and insiders.
| Shareholder Type | Percentage of Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 58% | 10,200,000 |
| Insiders | 12% | 2,100,000 |
| Retail Investors | 30% | 5,300,000 |
Top Institutional Investors
The following are the top institutional investors in Mirum Pharmaceuticals, Inc. (MIRM) as of the latest data:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 3,500,000 | 20% |
| Vanguard Group, Inc. | 2,800,000 | 16% |
| Goldman Sachs Group, Inc. | 1,500,000 | 9% |
| Capital Research Global Investors | 1,200,000 | 7% |
Executive Ownership
Key executives and their ownership stakes within Mirum Pharmaceuticals, Inc. (MIRM) include:
| Name | Position | Shares Owned | Percentage of Ownership |
|---|---|---|---|
| Chris Peetz | CEO | 1,000,000 | 6% |
| David E. Gaffin | CFO | 500,000 | 3% |
| Jennifer M. Choi | COO | 400,000 | 2% |
Stock Performance and Market Capitalization
The stock performance of Mirum Pharmaceuticals, Inc. (MIRM) is noted for its volatility and recent fluctuations in market capitalization:
- Current share price: $18.50
- Market capitalization: $310 million
- 52-week range: $12.00 - $25.00
- Average daily trading volume: 250,000 shares
Recent Transactions
Recent significant transactions involving Mirum Pharmaceuticals, Inc. (MIRM) shareholders include:
- Institutional Purchase by BlackRock: 500,000 shares in June 2023.
- Insider Sale by Chris Peetz: 100,000 shares in August 2023.
- Institutional Sale by Vanguard: 200,000 shares in September 2023.
Mirum Pharmaceuticals, Inc. (MIRM) Mission Statement
Overview
Mirum Pharmaceuticals, Inc. is committed to developing innovative therapies to transform the lives of patients with rare diseases. The mission centers on providing effective solutions that meet the unmet needs in the market, especially for orphan diseases affecting small patient populations.
Mission Statement
The mission statement of Mirum Pharmaceuticals is to discover, develop, and deliver innovative therapies that address the needs of patients suffering from rare diseases. The company aims to create a pipeline of medicines tailored specifically for these conditions, enhancing the quality of life for patients and their families.
Core Values
- Patient-Centricity: Focus on patients’ needs and their journey.
- Innovation: Strive for groundbreaking solutions in rare disease treatment.
- Collaboration: Foster partnerships to enhance research and development.
- Integrity: Operate with transparency and ethical practices.
- Excellence: Commit to the highest quality in all endeavors.
Current Pipeline
| Product Name | Indication | Phase | Expected Launch |
|---|---|---|---|
| Maralixibat | Alagille Syndrome | Commercial | 2021 |
| MRX-4 | Primary Biliary Cholangitis | Phase 2 | 2024 |
| MRX-6 | Cholestatic Liver Disease | Preclinical | 2025 |
Financial Overview
As of the latest financial report, Mirum Pharmaceuticals demonstrated significant growth potential. For the fiscal year 2022, the company reported revenue of $46.3 million from product sales, with a projected revenue growth of 30% year-over-year.
Stock Performance
As of October 2023, Mirum Pharmaceuticals (NASDAQ: MIRM) has a market capitalization of approximately $750 million. The stock has seen an increase in value of 45% since the beginning of the year.
Investment in Research and Development
Mirum Pharmaceuticals allocates a substantial portion of its budget to R&D, comprising around 75% of its total expenditure. The investment for 2023 is estimated to be about $50 million, focused on advancing its clinical pipeline and improving therapeutic outcomes.
Conclusion
The mission of Mirum Pharmaceuticals, Inc. is clearly defined, focusing on rare diseases. With a strong commitment to innovation, patient-centered solutions, and strategic partnerships, Mirum aims to lead in the development of therapies that fulfill unmet medical needs in the realm of rare diseases.
How Mirum Pharmaceuticals, Inc. (MIRM) Works
Overview
Mirum Pharmaceuticals, Inc. is a biopharmaceutical company that focuses on the development and commercialization of novel therapies for rare diseases. Founded in 2018, the company is headquartered in Foster City, California. As of October 2023, Mirum trades on the Nasdaq under the ticker symbol MIRM.
Key Products
Mirum's lead product is Maralixibat, which is specifically developed to treat cholestatic liver diseases, including Alagille syndrome and progressive familial intrahepatic cholestasis (PFIC). In 2023, the company reported that Maralixibat had received FDA approval for PFIC in April 2023.
| Product | Indication | FDA Approval Date | Year-to-Date Sales (2023) |
|---|---|---|---|
| Maralixibat | PFIC | April 2023 | $15 million |
Financial Performance
As of Q3 2023, Mirum Pharmaceuticals reported a total revenue of $20 million, a significant increase compared to $5 million in the same quarter of the previous year. The net loss for the year stood at $35 million, a decrease from $40 million in 2022.
| Financial Metric | 2023 Q3 | 2022 Q3 |
|---|---|---|
| Total Revenue | $20 million | $5 million |
| Net Loss | $35 million | $40 million |
Market Strategy
Mirum Pharmaceuticals aims to build partnerships with healthcare providers and advocacy groups to enhance awareness and access to their therapies. The company is also investing in clinical trials to explore additional indications for Maralixibat.
- Focus on rare diseases
- Partnerships with healthcare providers
- Investment in clinical research
Research and Development
The R&D expenses reported for Q3 2023 were $25 million, highlighting the company’s commitment to innovation and the development of new therapies. Mirum aims to advance multiple candidates through its pipeline.
| R&D Expense | 2023 Q3 |
|---|---|
| $25 million |
Stock Performance
As of October 2023, MIRM stock is trading at approximately $10 per share, with a market capitalization of $300 million. The stock has seen a growth of 15% year-to-date.
| Stock Metric | Value |
|---|---|
| Current Price | $10 |
| Market Capitalization | $300 million |
| Year-to-Date Growth | 15% |
Collaborations and Partnerships
Mirum Pharmaceuticals has established several collaborations with academic institutions and other biopharmaceutical companies to enhance its R&D efforts.
- Partnership with University of California
- Collaboration with Vertex Pharmaceuticals
- Strategic alliance with various clinical research organizations
Future Outlook
Looking ahead, Mirum plans to expand its product portfolio and increase market penetration for Maralixibat, projecting future revenues to potentially reach $50 million by the end of 2024.
How Mirum Pharmaceuticals, Inc. (MIRM) Makes Money
Revenue Streams
Mirum Pharmaceuticals, Inc. primarily generates revenue through the sale of pharmaceuticals, particularly focusing on treatments for rare liver diseases. The company’s lead product, Livmarli (maralixibat), is a pivotal component of its revenue model.
Sales of Livmarli
The sales of Livmarli contributed significantly to Mirum's revenue, with reported sales of approximately $20.1 million in Q2 2023, marking a substantial increase from previous quarters. The product is aimed at treating cholestatic liver diseases, particularly in pediatric patients.
Market Position
Mirum operates in a niche market for rare diseases, which often allows for higher pricing and reduced competition. As of 2023, the total addressable market for cholestatic liver diseases is estimated at around $800 million in the United States alone.
Financial Performance
For the fiscal year ending December 31, 2022, Mirum Pharmaceuticals reported total revenues of $35.5 million, a notable increase from $11.8 million in 2021.
| Year | Total Revenue | Revenue from Livmarli | Net Income/(Loss) |
|---|---|---|---|
| 2022 | $35.5 million | $20.1 million | $(45.7 million) |
| 2021 | $11.8 million | $5.0 million | $(33.1 million) |
| 2020 | $8.9 million | $3.2 million | $(29.8 million) |
Partnerships and Collaborations
Mirum's collaborative efforts with larger pharmaceutical companies or academic institutions can also be a source of revenue through milestone payments or royalties. In 2022, Mirum entered a partnership with Fujifilm to potentially expand its market reach, which could enhance funding opportunities.
Future Growth Projections
Analysts project a compound annual growth rate (CAGR) of approximately 15% for the pediatric liver disease market, driven by increased diagnosis rates and therapeutic advancements.
Expenses and Investment
Mirum invests heavily in research and development (R&D), with R&D expenses amounting to $37 million in 2022, reflecting the company's commitment to developing new therapies.
| Expense Category | 2022 Amount | 2021 Amount |
|---|---|---|
| R&D Expenses | $37 million | $29 million |
| General and Administrative Expenses | $25 million | $20 million |
Stock Performance
As of October 2023, Mirum Pharmaceuticals' stock has experienced volatility, trading at approximately $18.00 per share, down from a high of $30.00 earlier in 2022.
Mirum Pharmaceuticals, Inc. (MIRM) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support