Company: MIRM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001759425-25-000032
Chunk: 403

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 403
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 cash flows is disclosed in Note 2 to our unaudited condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q.

25

Results of Operations for the Three Months Ended March 31, 2025 and 2024

The following table summarizes our results of operations for the three months ended March 31, 2025 and 2024 (in thousands): 

 Three Months Ended March 31,Change  20252024Revenue:Product sales, net$111,585 $68,917 $42,668 License and other revenue— 305 (305)Total revenue111,585 69,222 42,363 Operating expenses:Cost of sales23,018 17,830 5,188 Research and development46,044 32,222 13,822 Selling, general and administrative57,706 45,638 12,068 Total operating expenses126,768 95,690 31,078 Loss from operations(15,183)(26,468)11,285 Other income (expense):Interest income3,023 3,633 (610)Interest expense(3,596)(3,577)(19)Other income, net2,108 1,757 351 Net loss before provision for income taxes(13,648)(24,655)11,007 Provision for income taxes1,029 624 405 Net loss$(14,677)$(25,279)$10,602 

Product Sales, Net

Product sales, net was $111.6 million for the three months ended March 31, 2025, compared to $68.9 million for the three months ended March 31, 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 March 31, 20252024ChangeProduct sales, net:  Livmarli$73,224 $42,845 $30,379 Bile Acid Medicines38,361 26,072 12,289 Total product sales, net$111,585 $68,917 $42,668