MIRMMirum Pharmaceuticals, Inc.
Mirum Pharmaceuticals, Inc. (MIRM) sells specialty pharmaceuticals, primarily focused on rare disease therapies and bile acid treatments. The next catalyst is Nov 3, 2026 — Q3 2026 Earnings Release, which will test the company’s ability to deliver on its guidance and show progress in its rare disease program.
- Mirum has a narrow product pipeline, with Livmarli as its core asset and a small rare disease portfolio.
- The company is heavily leveraged, with $443.8 million in negative free cash flow over the past year.
- Its revenue growth is robust at 54.7% YoY, but net income remains deeply negative.
The Read
Mirum’s stock initially stalled despite strong Livmarli sales due to earnings losses and profitability concerns, then mildly pulled back after raised guidance amid consolidation, before rallying about 14% on positive Phase 2 data and rare disease program updates.
The schedule
- Wed4Nov
This earnings report will test the company's ability to meet revenue and guidance expectations, particularly in light of recent underperformance and the high volatility environment. The outcome will be critical for assessing product mix and cash flow sustainability.
- Tue9Feb
This report will test the company's ability to deliver on its guidance and demonstrate progress in key therapeutic areas. The outcome will be crucial for assessing the company's long-term viability.
- Wed5May
This report will test the company's ability to deliver on its guidance and demonstrate progress in key therapeutic areas. The outcome will be crucial for assessing the company's long-term viability.
- Wed4Aug
This report will test the company's ability to deliver on its guidance and demonstrate progress in key therapeutic areas. The outcome will be crucial for assessing the company's long-term viability.
- Tue28Sep
This news event could provide clarity on the company's strategic direction or regulatory progress, which may influence investor sentiment and stock performance.
Past
- Wed5Aug
Actual outcome: Bear · $100.65 at outcome
Mirum Pharmaceuticals reported a Q2 earnings miss with a loss of $0.80 per share, despite beating revenue estimates with $176 million in net product sales. Although the company raised its full-year 2026 sales outlook to $680-$700 million driven by Livmarli and bile acid drugs, the wider-than-expected quarterly loss weighed on investor sentiment, causing the stock to decline 4.9%.
Mirum will report Q2 results on August 5, with the street focused on Livmarli revenue and full-year sales guidance updates.
- Wed6May
Actual outcome: Mixed · $106.17 at outcome
Mirum reported a Q1 earnings and revenue beat alongside raised 2026 sales guidance, driven by strong performance from Livmarli and its bile acid portfolio. Despite the positive fundamental update, the stock experienced a mild 3.6% pullback by the outcome date as it consolidated gains from a recent rally sparked by positive Phase
- Wed25Feb
Actual outcome: Bear · $90.09 at outcome
Mirum reported a revenue beat for Q4 2025, demonstrating continued commercial momentum for Livmarli, but significantly missed earnings expectations with a loss of $0.11 per share versus an anticipated $0.02 profit. The stock remained flat as the strong top-line growth was offset by concerns regarding the company's spending trajectory and the timing of its transition to sustained non-GAAP profitability in 2026.