Mirum(US:MIRM)2025-05-07 20:02Financial Performance - Total revenue for Q1 2025 was $111.6 million, compared to $69.2 million in Q1 2024, representing a 61% increase[5] - Total revenue for Q1 2025 was $111.585 million, a significant increase of 60.8% compared to $69.222 million in Q1 2024[27] - Product sales, net, reached $111.585 million in Q1 2025, while license and other revenue was negligible at $0 million compared to $305 thousand in Q1 2024[27] - The net loss for Q1 2025 was $14.677 million, a reduction of 42.5% from a net loss of $25.279 million in Q1 2024[27] - Basic and diluted net loss per share improved to $(0.30) in Q1 2025 from $(0.54) in Q1 2024[27] Revenue Sources - LIVMARLI net product sales for Q1 2025 were $73.2 million, reflecting a 71% growth over Q1 2024[5] - Bile Acid Medicines net product sales reached $38.4 million, indicating a 47% increase compared to Q1 2024[5] Guidance and Projections - The company raised its full-year revenue guidance to between $435 million and $450 million[3] - The VISTAS study in primary sclerosing cholangitis (PSC) is expected to complete enrollment in Q3 2025, with topline data anticipated in Q2 2026[1] Product Developments - LIVMARLI oral tablet formulation has received FDA approval, providing a convenient single tablet dose option[2] - LIVMARLI has been approved in Japan for Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC)[5] - The company plans to initiate a Phase 2 study for MRM-3379 in Fragile X Syndrome in 2025[5] Expenses and Financial Position - Total operating expenses for Q1 2025 were $126.8 million, compared to $95.7 million in Q1 2024[5] - Total operating expenses increased to $126.768 million in Q1 2025, up from $95.690 million in Q1 2024, reflecting a rise of 32.4%[27] - Research and development expenses increased to $46.044 million in Q1 2025, compared to $32.222 million in Q1 2024, marking a rise of 43.0%[27] - Total stock-based compensation expenses were $15.803 million in Q1 2025, compared to $11.450 million in Q1 2024, indicating a 38.2% increase[27] Cash and Assets - As of March 31, 2025, unrestricted cash, cash equivalents, and investments totaled $298.6 million, up from $292.8 million at the end of 2024[5] - Cash and cash equivalents decreased to $211.822 million as of March 31, 2025, down from $222.503 million at the end of 2024[29] - Total assets increased to $690.245 million as of March 31, 2025, compared to $670.754 million at the end of 2024, reflecting a growth of 2.3%[29] - Total stockholders' equity rose to $233.256 million as of March 31, 2025, up from $225.640 million at the end of 2024[29]