MIRUM PHARMACEUTICALS Reports Second Quarter Earnings Results for FY2023
August 9, 2023
🌥️Earnings Overview
On August 3, 2023, MIRUM PHARMACEUTICALS ($NASDAQ:MIRM) released its financial results for the second quarter of FY2023 which ended on June 30, 2023. Total revenue grew an impressive 114.5% year over year, reaching USD 37.5 million. Net income, however, decreased to -74.0 million from -26.9 million in the corresponding quarter of the prior year.
Price History
The stock opened at $24.8 and closed at $24.9, resulting in a slight decrease of 0.2% from its previous closing price of $24.9. This performance was reflective of the overall market trends over the period. Overall, MIRUM PHARMACEUTICALS had a successful second quarter for FY2023, with strong revenue and income growth driven by its Rx portfolio and cost-saving initiatives. The company’s stock price closed at $24.9 on Thursday, down slightly from its previous closing price of $24.9, aligning with the overall market trends over the period. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mirum Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 115.78 | -176.31 | -152.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mirum Pharmaceuticals. More…
| Operations | Investing | Financing |
| -114.24 | 7.7 | 109.09 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mirum Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 443.59 | 364.98 | 3.69 |
Key Ratios Snapshot
Some of the financial key ratios for Mirum Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -137.6% |
| FCF Margin | ROE | ROA |
| -98.9% | -70.6% | -22.5% |
Analysis
At GoodWhale, we specialize in analyzing the financials of companies like MIRUM PHARMACEUTICALS. After analyzing the company’s data, we have developed a Star Chart that categorizes MIRUM PHARMACEUTICALS as strong in growth, medium in asset, and weak in dividend and profitability. This means that MIRUM PHARMACEUTICALS is classified as a ‘cheetah’ type of company – one that has achieved a high revenue or earnings growth but is considered less stable due to lower profitability. This type of company might be attractive to investors that are looking for a higher risk/higher return type of investment. Additionally, MIRUM PHARMACEUTICALS has an intermediate health score of 4/10 with regard to its cashflows and debt, which suggests that it is likely to sustain future operations in times of crisis. More…
Peers
The company focuses on developing and commercializing novel therapies for the treatment of liver diseases. The company’s lead candidate, maralixibat, is an oral small molecule inhibitor of the apical sodium-dependent bile acid transporter (ASBT). The company’s other product candidates include MAR-212 and MAR-773. The company was founded in 2007 and is headquartered in San Diego, California. Destiny Pharma PLC is a clinical stage biopharmaceutical company focused on the development of novel drugs for the prevention and treatment of infections. The company’s lead product candidate is Sporahexal, an oral formulation of the antifungal drug nystatin. The company’s other product candidates include D-Mannose and D-Mannosamine. The company was founded in 2003 and is headquartered in Brighton, United Kingdom. Trevi Therapeutics Inc is a clinical stage biopharmaceutical company focused on the development of novel drugs for the treatment of central nervous system disorders. The company’s lead product candidate is Nalbuphine ER, an extended-release formulation of the opioid analgesic nalbuphine. The company’s other product candidates include Buprenorphine/Naloxone and Nalmefene. The company was founded in 2013 and is headquartered in New Haven, Connecticut. Hepion Pharmaceuticals Inc is a clinical stage biopharmaceutical company focused on the development of novel drugs for the treatment of liver diseases. The company’s lead product candidate is Crofelemer, an oral formulation of the antifungal drug nystatin. The company’s other product candidates include C-Met Inhibitor and Hepcidin Antagonist. The company was founded in 2010 and is headquartered in San Diego, California.
– Destiny Pharma PLC ($LSE:DEST)
Destiny Pharma is a clinical stage pharmaceutical company that focuses on the development of novel anti-infectives to treat life-threatening infections. The Company’s most advanced product candidate is a novel topical formulation of the antibiotic daptomycin, which is in clinical development for the treatment of Staphylococcus aureus infections, including methicillin-resistant S. aureus (MRSA). Destiny Pharma’s other product candidates include a novel topical formulation of the antifungal agent amphotericin B, which is in preclinical development for the treatment of superficial fungal infections, and a novel oral formulation of the antibiotic ciprofloxacin, which is in preclinical development for the treatment of bacterial infections.
– Trevi Therapeutics Inc ($NASDAQ:TRVI)
Trevi Therapeutics Inc is a pharmaceutical company that focuses on the development and commercialization of products for the treatment of central nervous system disorders. The company has a market capitalization of 114.31 million as of 2022 and a return on equity of -52.73%. The company’s products include Nalmefene HCl, an oral drug for the treatment of alcohol use disorder, and Rivastigmine Tartrate, an oral drug for the treatment of Alzheimer’s disease.
– Hepion Pharmaceuticals Inc ($NASDAQ:HEPA)
Hepion Pharmaceuticals Inc is a biopharmaceutical company that focuses on the development of therapies for the treatment of liver diseases. The company’s market cap as of 2022 is 41.77M and its ROE is -37.2%. Hepion’s products are in various stages of development and include oral and injectable formulations of small molecule drugs. The company is headquartered in New York, NY.
Summary
MIRUM PHARMACEUTICALS reported strong second quarter financials for FY2023, with total revenue increasing by 114.5% to USD 37.5 million. Despite the increase in revenue, the company reported a net income of -74.0 million, a decrease from the previous year’s result of -26.9 million. This suggests that the company’s growth in revenue is not yet creating profit. Investors should continue to monitor the company’s progress in order to determine if future improvements in profitability are likely.
Related Posts
Recent Posts
