Company: MIRM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001759425-25-000041
Chunk: 373

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 373
---
2024 (in thousands): 

 Six Months Ended June 30,Change  20252024Revenue:Product sales, net$239,370 $146,677 $92,693 License and other revenue— 420 (420)Total revenue239,370 147,097 92,273 Operating expenses:Cost of sales46,439 38,057 8,382 Research and development92,111 64,894 27,217 Selling, general and administrative120,992 94,846 26,146 Total operating expenses259,542 197,797 61,745 Loss from operations(20,172)(50,700)30,528 Other income (expense):Interest income6,056 7,119 (1,063)Interest expense(7,185)(7,146)(39)Other income, net2,194 2,069 125 Net loss before provision for income taxes(19,107)(48,658)29,551 Provision for income taxes1,431 1,259 172 Net loss$(20,538)$(49,917)$29,379 

Product Sales, Net

Product sales, net was $239.4 million for the six months ended June 30, 2025, compared to $146.7 million for the six 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 orders and from our sales of the Bile Acid Medicines.

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

 Six Months Ended June 30, 20252024ChangeProduct sales, net:Livmarli$161,384 $90,076 $71,308 Bile Acid Medicines77,986 56,601 21,385 Total product sales, net$239,370 $146,677 $92,693 

Cost of Sales

For the six months ended June 30, 2025, cost of sales was $46.4 million, compared to $38.1 million for the six months ended June 30, 2024. The increase in cost of sales was primarily a result of increases in royalty expense of $7.3 million on