Company: MIRM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001759425-25-000054
Chunk: 378

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 378
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 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 September 30, 2025 and 2024

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

 Three Months Ended September 30,Change  20252024Revenue:Product sales, net$133,010 $90,302 $42,708 License and other revenue— 75 (75)Total revenue133,010 90,377 42,633 Operating expenses:Cost of sales25,537 20,806 4,731 Research and development42,960 31,710 11,250 Selling, general and administrative61,910 50,545 11,365 Total operating expenses130,407 103,061 27,346 Income (loss) from operations2,603 (12,684)15,287 Other income (expense):Interest income3,251 3,469 (218)Interest expense(3,606)(3,586)(20)Other income (expense), net395 (1,087)1,482 Net income (loss) before provision for income taxes2,643 (13,888)16,531 (Benefit from) provision for income taxes(262)347 (609)Net income (loss)$2,905 $(14,235)$17,140 

Product Sales, Net

Product sales, net was $133.0 million for the three months ended September 30, 2025, compared to $90.3 million for the three months ended September 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 orders and from our sales of the Bile Acid Medicines. 

The following table disaggregates total Product sales, net (in thousands):

 Three Months Ended September 30, 20252024ChangeProduct sales, net:  Livmarli$92,235 $59,126 $33,109 Bile Acid Medicines40