Mirum(US:MIRM) The Motley Fool·2025-12-03 11:30Core Insights - Mirum Pharmaceuticals is a mid-cap biotech stock that has seen significant gains, with a nearly 70% increase in 2025, and is expected to perform even better in 2026 [2][3] Company Performance - The current market capitalization of Mirum Pharmaceuticals is $4 billion, with a current stock price of $69.88 and a gross margin of 79.85% [3] - Livmarli, one of Mirum's three approved products, is the primary growth driver, with sales increasing by 56% year-over-year in Q3 2025 to $92.2 million, accounting for approximately 69% of total sales [3][4] - Combined sales for Mirum's other two bile acid medicines, Cholbam and Ctexli, rose by 31% year-over-year in Q3 to $40.8 million [6] Product Approvals and Pipeline - Livmarli was first approved by the FDA in September 2021 for treating cholestatic pruritus in patients with Alagille syndrome, a rare genetic disorder [4] - In 2024, Mirum received two additional FDA approvals for Livmarli for treating Progressive Familial Intrahepatic Cholestasis (PFIC) in patients aged five years and older, and for a tablet version of Livmarli [5] - The company has two promising pipeline candidates, voloxibat and MRM-3379, which could also contribute significantly to future revenue [8][10] Future Outlook - The introduction of a tablet formulation of Livmarli is expected to enhance sales, with early indications of strong uptake [7] - Mirum anticipates that Livmarli could generate annual sales exceeding $1 billion [8] - Positive topline data from ongoing Phase 2 studies for voloxibat and MRM-3379 could serve as catalysts for further stock performance [9][10]