Company: MIRM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001759425-25-000054
Chunk: 381

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 381
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 sales, net$372,380 $236,979 $135,401 License and other revenue— 495 (495)Total revenue372,380 237,474 134,906 Operating expenses:Cost of sales71,976 58,863 13,113 Research and development135,071 96,604 38,467 Selling, general and administrative182,902 145,391 37,511 Total operating expenses389,949 300,858 89,091 Loss from operations(17,569)(63,384)45,815 Other income (expense):Interest income9,307 10,588 (1,281)Interest expense(10,791)(10,732)(59)Other income, net2,589 982 1,607 Net loss before provision for income taxes(16,464)(62,546)46,082 Provision for income taxes1,169 1,606 (437)Net loss$(17,633)$(64,152)$46,519 

Product Sales, Net

Product sales, net was $372.4 million for the nine months ended September 30, 2025, compared to $237.0 million for the nine 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):

 Nine Months Ended September 30, 20252024ChangeProduct sales, net:Livmarli$253,619 $149,202 $104,417 Bile Acid Medicines118,761 87,777 30,984 Total product sales, net$372,380 $236,979 $135,401 

Cost of Sales

For the nine months ended September 30, 2025, cost of sales was $72.0 million, compared to $58.9 million for the nine months ended September 30, 2024. The increase in cost of sales was primarily a result of increases in royalty expense of $11.2 million on net sales of Livmarli and the Bile Acid Medicines under licensing agreements, a $2.3 million