Company: MIRM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001759425-25-000041
Chunk: 370

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 370
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 other foreign government programs. Our rebate calculations may require estimates based upon our actual historical experience, customer and payor mix and revenue projections. We update estimates and assumptions on a quarterly basis and record any necessary adjustments to revenue in the period identified. Estimated rebates are recorded as a reduction of revenue in the period the related sale is recognized. To date, actual government rebates have not differed materially from our estimates.

25

Recent Accounting Pronouncements

A description of recent accounting pronouncements that may potentially impact our financial position, results of operations or cash flows is disclosed in Note 2 to our unaudited condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q.

Results of Operations for the Three Months Ended June 30, 2025 and 2024

The following table summarizes our results of operations for the three months ended June 30, 2025 and 2024 (in thousands): 

 Three Months Ended June 30,Change  20252024Revenue:Product sales, net$127,785 $77,760 $50,025 License and other revenue— 115 (115)Total revenue127,785 77,875 49,910 Operating expenses:Cost of sales23,421 20,227 3,194 Research and development46,067 32,672 13,395 Selling, general and administrative63,286 49,208 14,078 Total operating expenses132,774 102,107 30,667 Loss from operations(4,989)(24,232)19,243 Other income (expense):Interest income3,033 3,486 (453)Interest expense(3,589)(3,569)(20)Other income, net86 312 (226)Net loss before provision for income taxes(5,459)(24,003)18,544 Provision for income taxes402 635 (233)Net loss$(5,861)$(24,638)$18,777 

Product Sales, Net

Product sales, net was $127.8 million for the three months ended June 30, 2025, compared to $77.8 million for the three months ended June 30, 2024. The increase in product sales, net was a result of our continued commercialization of Livmarli in the U.S. for the treatment of ALGS and PFIC, and in certain international markets directly or through distributor and partner