Mirum Pharmaceuticals, Inc.
MIRM evidence brief
What we can confirm
- BioSniper Score:
- 5.8 / 10
- Market Cap:
- $6.07B
- Lead Asset:
- brelovitug (Phase 3)
What it means
What to watch
Prepared research question
What matters most for MIRM—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · MIRM
Mirum Pharmaceuticals, Inc. (MIRM) is a biopharmaceutical company focused on developing and commercializing therapies for rare liver diseases, with a pipeline spanning approved drugs (LIVMARLI, Chenodal) and late-stage candidates (brelovitug, volixibat) targeting cholestatic liver conditions, chronic hepatitis delta, and primary sclerosing cholangitis.
Key risk: Sustained net losses
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 9 pipeline candidates · 25 clinical trials · 3 catalysts for Mirum Pharmaceuticals, Inc..
Similar companies
Mirum Pharmaceuticals, Inc. (MIRM) is a biopharmaceutical company focused on developing and commercializing therapies for rare liver diseases, with a pipeline spanning approved drugs (LIVMARLI, Chenodal) and late-stage candidates (brelovitug, volixibat) targeting cholestatic liver conditions, chronic hepatitis delta, and primary sclerosing cholangitis.
- Cash & equivalents of $330.7M as of 2026-06-30 [sec].
- Total revenue of $176.2M and net income of -$67.2M as of 2026-06-30 [sec].
- LIVMARLI (maralixibat) is approved for cholestatic liver diseases and is in Phase 4 for intrahepatic cholestasis of pregnancy [pipeline].
- Brelovitug met its primary endpoint in the Phase 3 AZURE-1 study for chronic hepatitis delta as of October 2026 [news · published 2026-10-02].
- Volixibat received Breakthrough Therapy designation and met its primary endpoint in the VISTAS Phase 2b study for primary sclerosing cholangitis as of May 2026 [news · published 2026-05-04].
What works
- Diversified pipeline with multiple late-stage candidates (brelovitug Phase 3, volixibat Phase 3) targeting distinct liver diseases [pipeline].
- Approved commercial products (LIVMARLI, Chenodal) provide existing revenue streams [pipeline].
- Breakthrough Therapy designation for volixibat may accelerate regulatory review [news · published 2026-08-13].
What to weigh
- Net loss of $67.2M as of 2026-06-30 and a six-month net loss of $857.38M reported in Q2 2026 [sec][news · published 2026-08-13].
- Shareholders' equity is negative (-$10.4M as of 2026-06-30) [sec].
- Volixibat previously failed to meet endpoints in a NASH study, leading to termination [catalyst].
- Competitive landscape for LIVMARLI includes a Phase 3 competitor (GSK's Linerixibat) [pipeline].
From the filings
Quoted directly from source documents.
Brelovitug met primary endpoint in Phase 3 AZURE-1
“Mirum Pharmaceuticals (NASDAQ:MIRM) reported positive top-line results from the Phase III portion of its AZURE-1 study evaluating brelovitug for chronic hepatitis delta, saying the investigational antibody met its primary endpoint at 24 weeks and showed a favorable tolerability profile.”
News · October 2, 2026
Volixibat met primary endpoint in VISTAS Phase 2b
“the primary endpoint was met in the VISTAS Phase 2b study evaluating volixibat, an investigational oral ileal bile acid transporter ("IBAT") inhibitor, in patients with primary sclerosing cholangitis ("PSC").”
News · May 4, 2026
Volixibat previously failed in NASH study
“Volixibat did not meet either interim endpoint; the study was terminated owing to lack of eff”
Catalysts
Catalyst timeline
- 2027-01-15 · Phase2_Start: MRX-901: An Open-label Study to Assess Safety and Tolerability of Maralixibat in Participants With Intrahepatic Cholestasis of Pregnancy (ICP) (OASIS) — Initiation of a Phase 2 study for maralixibat in a new indication (ICP).
- 2028-02-21 · Patent_Expiry · CHENODIOL — Patent expiry for Chenodiol (chenodeoxycholic acid) NDA219488.
- 2043-10-05 · Patent_Expiry · MARALIXIBAT CHLORIDE — Patent expiry for maralixibat chloride NDA219485.
Risks & what to watch (4)›
Key risks
- Sustained net losses — Net loss of $67.2M in Q2 2026 and six-month net loss of $857.38M [news · published 2026-08-13].
- Negative shareholders' equity — Shareholders' equity of -$10.4M as of 2026-06-30 [sec].
- Competitive pressure on LIVMARLI — GSK's Linerixibat is in Phase 3 for similar indications [pipeline].
- Past pipeline failure — Volixibat failed in a NASH study, leading to termination [catalyst].
What to watch
- FDA decision on brelovitug for chronic hepatitis delta following positive Phase 3 data [news · published 2026-10-02].
- Phase 2 start for maralixibat in intrahepatic cholestasis of pregnancy (OASIS) on 2027-01-15 [catalyst].
- Commercial progress of LIVMARLI and Chenodal amid rising net product sales guidance [news · published 2026-08-13].
- Regulatory updates for volixibat given Breakthrough Therapy designation [news · published 2026-08-13].
Sources: Catalysts · News · Pipeline · Generated October 13, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Cash runway data unavailable
Net income -$67M
Lead: Approved
9 candidates
3 upcoming, next in ~93d
0 buys · 27 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Short Interest
as of May 21, 2026- % of float
- 18.1%
- Days to cover
- 11.5
- Shares short
- 8,413,814
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
MIRM short interestGovernance
Frequently asked questions
What is the AI investment thesis for Mirum Pharmaceuticals, Inc.?
Mirum Pharmaceuticals, Inc. (MIRM) is a biopharmaceutical company focused on developing and commercializing therapies for rare liver diseases, with a pipeline spanning approved drugs (LIVMARLI, Chenodal) and late-stage candidates (brelovitug, volixibat) targeting cholestatic liver conditions, chronic hepatitis delta, and primary sclerosing cholangitis.
What is Mirum Pharmaceuticals, Inc.'s lead drug candidate?
Mirum Pharmaceuticals, Inc.'s most advanced tracked candidate is brelovitug (Phase 3) for Chronic Hepatitis D Infection; Chronic Hepatitis D.
What is Mirum Pharmaceuticals, Inc.'s next catalyst?
Mirum Pharmaceuticals, Inc.'s next tracked catalyst is a Phase2_Start event — "Phase2_Start: MRX-901: An Open-label Study to Assess Safety and Tolerability of Maralixibat in Participants With Intrahepatic Cholestasis of Pregnancy (ICP) (OASIS)" — expected January 15, 2027.
Who is the CEO of Mirum Pharmaceuticals, Inc.?
Mr. Christopher Peetz is the chief executive officer of Mirum Pharmaceuticals, Inc. (MIRM).
Where is Mirum Pharmaceuticals, Inc. headquartered?
Mirum Pharmaceuticals, Inc. (MIRM) is headquartered in Foster City, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.