Mirum Stock Soars 9%, Adding $523 Million, After Raising Its 2026 Sales Outlook
The rare liver disease drugmaker lifted its yearly sales forecast after launching ATEBRIOZ, even as its quarterly net loss was $40.8 million.
Mirum Pharmaceuticals, which makes drugs for rare liver diseases, climbed 9.25% to $95.08 in Wednesday trading as of 3:31 p.m. ET, adding about $523 million in market value. The rally came the session after the company said on Tuesday it raised its 2026 net product sales guidance to $715 million to $720 million.
Sales up, loss wider
The company raised its guidance following the launch of ATEBRIOZ, a newly approved drug. On the earnings call, management said adult PFIC, a liver condition, drives the higher outlook, and that it expects total revenue to keep climbing $10 million to $15 million a quarter through next year.
Quarterly net product sales rose to $185.7 million from $133.0 million. Operating expenses climbed to $245.5 million, leaving a net loss of $40.8 million.
The cash and investments balance, excluding restricted funds, grew from $391.4 million at the end of 2025 to $500.5 million by September 30.
A rare-disease portfolio
Mirum has three approved medicines: Livmarli, for itching tied to Alagille syndrome and progressive familial intrahepatic cholestasis; Cholbam, for bile acid synthesis disorders; and Ctexli, for the rare disorder cerebrotendinous xanthomatosis in adults. Its pipeline includes volixibat for adult liver diseases and brelovitug for chronic hepatitis D, which it gained by buying Bluejay Therapeutics on January 23, 2026.
The company is pairing fast sales growth with heavy spending on a late-stage pipeline.
Still short of its July high
Mirum shares were up about 10% for the year as of Tuesday's close, slightly behind the S&P 500, which was up about 11%. The stock sat 32% below its highest close of the past year, set on July 8, so Wednesday's gain recovers only part of that ground.
The session was on pace to be its biggest one-day gain since May 4 and its third straight daily gain.
Mirum presents full AZURE-1 hepatitis delta results at The Liver Meeting on November 8.
Sources
- Mirum Pharmaceuticals, Inc. (MIRM) Reports Q3 Loss, Tops Revenue Estimates — Yahoo Finance
- Mirum outlines $715M to $720M 2026 net product sales guidance while targeting cash flow positive next year (NASDAQ:MIRM) | Seeking Alpha — seekingalpha.com
- Mirum Pharmaceuticals GAAP EPS of -$0.87 misses by $0.38, revenue of $185.7M beats by $7.66M (MIRM:NASDAQ) — seekingalpha.com
- Document — sec.gov
- Mirum Pharmaceuticals Q3 2026 Earnings Call Transcript — benzinga.com
- The company's filing (Mirum Pharmaceuticals) — SEC filing
- Mirum Pharmaceuticals — Form 10-Q for the quarter ended 2026-09-30 (quarterly results) — SEC EDGAR
