Is Mirum’s BLOOM Fragile X Trial Expanding a Durable Neurology Strategy for Mirum Pharmaceuticals (MIRM)?

• Mirum Pharmaceuticals recently reported that it has enrolled the first participant in its BLOOM Phase 2 clinical study of MRM-3379 for Fragile X syndrome, a serious inherited neurodevelopmental condition with no approved treatments.
• This milestone moves Mirum’s rare disease pipeline further into neurology, highlighting how the company is testing its approach beyond liver-focused indications.
• We’ll now examine how launching the BLOOM Phase 2 Fragile X program could influence Mirum’s investment narrative around pipeline-driven diversification.

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Mirum Pharmaceuticals Investment Narrative Recap

To own Mirum, you generally need to believe its bile acid–modulating platform can support a durable rare-disease franchise while new indications extend that reach. The BLOOM Phase 2 start in Fragile X expands Mirum beyond hepatology, but it does not alter the near term focus on commercial execution for Livmarli and progress in late stage liver programs, which still look like the key catalyst and main source of business risk.

Among recent announcements, Mirum’s November 2025 earnings and guidance update stands out, with Q3 2025 revenue of US$133.01 million and full year 2025 revenue now guided to the upper end of US$500 million to US$510 million. Against that backdrop, the BLOOM Fragile X study adds a new, earlier stage growth option, but investor attention is likely to remain anchored on how effectively the company converts its existing liver portfolio into sustainable earnings.

Yet even as Mirum pushes into new indications, investors should be aware that...

Read the full narrative on Mirum Pharmaceuticals (it's free!)

Mirum Pharmaceuticals' narrative projects $794.3 million revenue and $102.1 million earnings by 2028. This requires 22.8% yearly revenue growth and a $160.7 million earnings increase from -$58.6 million today.

Uncover how Mirum Pharmaceuticals' forecasts yield a $87.99 fair value, a 24% upside to its current price.

Exploring Other Perspectives

Four members of the Simply Wall St Community value Mirum between US$34.86 and US$217.47 per share, underscoring how far opinions can diverge. You can weigh those views against Mirum’s heavy reliance on Livmarli as its core revenue engine and consider what that concentration might mean for long term performance.

Explore 4 other fair value estimates on Mirum Pharmaceuticals - why the stock might be worth over 3x more than the current price!

Build Your Own Mirum Pharmaceuticals Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Mirum Pharmaceuticals research is our analysis highlighting 4 key rewards that could impact your investment decision.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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