Quarterly ResultMay 6, 2026, 04:15 PM
Mirum Pharmaceuticals Acquires Bluejay; Q1 Net Loss $790.2M
AI Summary
Mirum Pharmaceuticals, Inc. reported a significant net loss of $790.2 million for Q1 2026, primarily driven by a $726.3 million expense for acquired in-process research and development related to its acquisition of Bluejay Therapeutics, Inc. on January 23, 2026. Despite the substantial loss, product sales increased by 43.2% to $159.9 million, with Livmarli sales growing to $113.8 million. The acquisition adds worldwide rights to brelovitug, a late-stage monoclonal antibody for chronic hepatitis delta virus.
Key Highlights
- Acquired Bluejay Therapeutics, Inc. on January 23, 2026, adding brelovitug rights.
- Reported Q1 2026 net loss of $790.2 million, significantly up from $14.7 million loss in Q1 2025.
- Acquired in-process R&D expense surged to $726.3 million in Q1 2026 from $5.0 million in Q1 2025.
- Product sales, net, increased 43.2% to $159.9 million in Q1 2026 from $111.6 million in Q1 2025.
- Livmarli product sales grew to $113.8 million in Q1 2026 from $73.2 million in Q1 2025.
- Bile Acid Medicines sales reached $46.1 million in Q1 2026, up from $38.4 million in Q1 2025.
- Cash and cash equivalents were $324.9 million as of March 31, 2026.