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Mirum Pharmaceuticals: LIVMARLI meets trial goal

A U.S. supplemental New Drug Application is planned for the first half of 2027, based on results that showed a 69.0% serum bile-acid treatment effect versus placebo.

(Moderate)

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

Form Type
8-K

Rhea-AI Filing Summary

Mirum Pharmaceuticals, Inc. (MIRM) announced topline results from its Phase 3 EXPAND study of LIVMARLI (maralixibat) for cholestatic pruritus in patients aged 6 months or older with ultra-rare cholestatic liver diseases. The study enrolled 52 patients and met its primary endpoint, with statistical significance across all five prespecified secondary endpoints. In the pediatric primary analysis, the mean ItchRO(Obs) score improved by 1.81 points with maralixibat versus 0.83 points with placebo during Weeks 13–20, a 0.98-point treatment difference (p=0.0004). Serum bile acids declined 70.1% with maralixibat versus 3.5% with placebo, with a 69.0% treatment effect (p<0.0001).

Safety findings were consistent with prior clinical experience, and no new safety signals were observed. Serious treatment-emergent adverse events occurred in five participants in each group; diarrhea was reported in 16 participants (64.0%) receiving maralixibat and three (11.1%) receiving placebo. Mirum plans to submit a supplemental New Drug Application in the United States in the first half of 2027 based on these results.

1 point · 1 major

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

0 major · 0 points

How the balance works

Positive

  • Major pointEXPAND met its primary endpoint and all five secondary endpoints.

Negative

  • None.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
EXPAND study enrollment 52 patients 46 pediatric and six adult patients
Maralixibat dose 285 µg/kg twice daily 20-week double-blind period
Mean ItchRO(Obs) improvement 1.81 points (placebo: 0.83 points) Pediatric primary analysis; average during Weeks 13–20
Placebo-adjusted ItchRO(Obs) treatment difference 0.98 points; p=0.0004 Primary endpoint
Serum bile-acid results 70.1% reduction versus 3.5% for placebo; 69.0% treatment effect; p<0.0001 Change from baseline
Serious treatment-emergent adverse events 5 participants (20.0%) versus 5 participants (18.5%) Maralixibat group (n=25) versus placebo group (n=27)
Diarrhea 16 participants (64.0%) versus 3 participants (11.1%) Maralixibat group (n=25) versus placebo group (n=27)
ItchRO(Obs) medical
"ItchRO(Obs) = Itch Reported Outcome (Observer)"
serum bile acids medical
"serum bile acids (“sBA”)"
Molecules produced by the liver that help digest fats and are normally recycled in the gut, measured in a blood test to see how well the liver and bile system are working. For investors, abnormal serum bile acid levels act like an engine warning light for liver or digestive disease risk, influencing demand for diagnostics, treatments, veterinary products, and drug safety assessments that can affect companies’ revenues and regulatory prospects.
supplemental New Drug Application regulatory
"submit a supplemental New Drug Application"
A supplemental new drug application is a request submitted to regulatory authorities to make changes to an existing approved medication, such as adding new uses, strengths, or formulations. For investors, it signals that a pharmaceutical company is seeking approval for new product developments or expanded applications, which can impact the company's future sales, market potential, and stock value.
MMRM technical
"p-values are from MMRM model"
MMRM is a statistical method used in clinical trials to analyze repeated measurements from the same patients over time, accounting for natural differences between individuals and for missing visits without simply guessing missing values. Think of it like comparing students’ test-score trends across semesters while recognizing each student’s pattern rather than averaging everyone together; for investors, MMRM matters because it influences how robust and reliable reported treatment effects appear, which can affect regulatory interpretation and market reaction.
treatment-emergent adverse event medical
"Any treatment-emergent adverse event (“TEAE”)"
An event is called a treatment-emergent adverse event when a new or worsening unwanted health effect appears after a person starts a drug or medical treatment, typically measured from the first dose onward in clinical studies. Investors watch these events because they can stop or slow product approval, raise development costs, or undermine market confidence—like a widely reported defect in a new gadget that triggers recalls and damages sales.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did MIRM's Phase 3 EXPAND study show for LIVMARLI?

The study met its primary endpoint and achieved statistical significance across all five prespecified secondary endpoints. In the pediatric primary analysis, mean ItchRO(Obs) improvement was 1.81 points with maralixibat versus 0.83 points with placebo, a 0.98-point treatment difference (p=0.0004).

When does MIRM plan to submit a supplemental New Drug Application for LIVMARLI?

Mirum plans to submit the U.S. supplemental New Drug Application in the first half of 2027, based on the Phase 3 EXPAND study results.

What was the diarrhea rate in MIRM's EXPAND study?

Diarrhea was reported in 16 of 25 participants (64.0%) receiving maralixibat and 3 of 27 participants (11.1%) receiving placebo during the 20-week double-blind period.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR Accepted by SEC EDGAR Learn about SEC filing dates
false000175942500017594252026-10-122026-10-12

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________________________________________
FORM 8-K
____________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 12, 2026
____________________________________________________
Mirum Pharmaceuticals, Inc.
(Exact name of Registrant as Specified in Its Charter)
____________________________________________________
Delaware001-3898183-1281555
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
989 East Hillsdale Boulevard
Suite 300
Foster City, California
94404
(Address of Principal Executive Offices)(Zip Code)
Registrant’s Telephone Number, Including Area Code: (650) 667-4085
N/A
(Former Name or Former Address, if Changed Since Last Report)
____________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Common stock, par value $0.0001 per share
MIRM

Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 8.01 Other Events.
Announcement of Data from the Phase 3 EXPAND Study of LIVMARLI (maralixibat) in Ultra-Rare Cholestatic Liver Diseases
On October 12, 2026, Mirum Pharmaceuticals, Inc. (the “Company”) announced topline results from the Phase 3 EXPAND study evaluating LIVMARLI (maralixibat) (“Livmarli”) for the treatment of cholestatic pruritus in patients aged 6 months or older with ultra-rare cholestatic liver diseases, including biliary atresia (“BA”). The study met its primary endpoint and achieved statistical significance across all five prespecified secondary endpoints, including the three endpoints in patients with BA and a native liver.
The Phase 3 EXPAND study enrolled 52 patients, including 46 pediatric and six adult patients, who were randomized during the 20-week double-blind period to treatment with maralixibat 285 µg/kg twice daily (“BID”) or placebo.
Treatment with maralixibat demonstrated a statistically significant improvement in pruritus compared with placebo in the primary analysis population of pediatric patients. Maralixibat resulted in a mean 1.81-point improvement from baseline in average worst-daily ItchRO(Obs) severity score during Weeks 13-20 compared with a 0.83-point improvement for placebo, corresponding to a placebo-adjusted treatment difference of 0.98 points (p=0.0004). Maralixibat also resulted in a 70.1% reduction from baseline in serum bile acids (“sBA”), compared with 3.5% for placebo, corresponding to a 69.0% treatment effect versus placebo (p<0.0001). Key efficacy data from the Phase 3 EXPAND study are presented below in the “Efficacy Results” table.
Safety findings in the Phase 3 EXPAND study were consistent with prior clinical experience with maralixibat and no new safety signals were observed. Key safety data from the Phase 3 EXPAND study are presented below in the “Safety Summary” table.
The Company plans to submit a supplemental New Drug Application in the United States in the first half of 2027 based on the Phase 3 EXPAND study results.
Efficacy Results – Primary and Secondary Endpoints
Maralixibat
285 µg/kg BID
PlaceboTreatment Effect
 (MRX-PBO)
p-value
OVERALL STUDY ANALYSES
Primary Endpoint: Change in ItchRO(Obs) severity score (SE)b
 -1.81 (0.18)a
 -0.83 (0.18)a
-0.980.0004
All Pediatric Populationn=22n=24
Percentage of days with pruritus improvement86.0%49.1%36.9%0.0008
All Pediatric Populationn=22n=24
Relative % change from baseline in total sBA-70.1%-3.5%
 -69.0%c
<0.0001
Overall Populationn=25n=27
BILIARY ATRESIA (BA) WITH NATIVE LIVER SUBGROUP
Change in ItchRO(Obs) severity score (SE)b
 -2.16 (0.21)a
 -1.01 (0.18)a
-1.150.0002
n=11n=14
Percentage of days with pruritus improvement96.4%52.2%44.1%0.0045
n=11n=14
Relative % change from baseline in total sBA-75.5%-9.0%
 -73.1%c
<0.0001
n=11n=14
a LS means (SE). LS mean, SE, and p-values are from MMRM model.
b ItchRO(Obs) = Itch Reported Outcome (Observer) is a Worst Itch 0-4 numerical rating scale.
c sBA treatment effects were estimated using log-transformed values and back-transformed to the original scale; therefore, they are not calculated as the arithmetic difference between treatment groups.
The primary endpoint represents change from baseline to the average of Weeks 13-20. Serum bile acid (sBA) endpoints represent change from baseline to the average of Weeks 12 and 20. Pruritus improvement was defined over Weeks 13-20 as a worst-daily ItchRO(Obs) score ≤1 or a decrease of ≥1 point from baseline. The All Pediatric Population included



randomized participants aged 18 years or younger who received at least one dose of study drug and had at least one ItchRO(Obs) score.
Safety Summary – 20-Week Double-Blind Period
The safety population includes all randomized participants who received at least one dose of maralixibat or placebo; participants were analyzed according to the treatment received.
Participants with, n (%)Maralixibat
285 µg/kg BID
(n=25)
Placebo
(n=27)
Any treatment-emergent adverse event (“TEAE”)24 (96.0)26 (96.3)
Grade 3 or higher TEAEs6 (24.0)6 (22.2)
Related to study drug1 (4.0)0
Serious TEAEs5 (20.0)5 (18.5)
TEAE that led to death00
TEAE that led to premature discontinuation from study1 (4.0)0
TEAEs of interest
Diarrhea16 (64.0)3 (11.1)
Abdominal pain5 (20.0)4 (14.8)
ALT increased2 (8.0)1 (3.7)
Serious adverse events (“SAEs”) in MRX-treated patients: pneumonia, pyrexia, large intestine infection, acute kidney injury, viral infection with bronchiolitis; none related. SAEs in placebo-treated patients: pneumonia, pancytopenia, sepsis, forearm fracture, cholangitis.
Patient Population Information
The Company believes the prevalent patient population in the United States and Europe for Livmarli for cholestatic pruritus in patients with Alagille syndrome (“ALGS”) is approximately 4,000 - 5,500 pediatric ALGS patients, and of that prevalent population, approximately 2,000 pediatric ALGS patients are addressable, which, based on the Company’s current expectations and beliefs, represents a greater than $500.0 million market opportunity. ALGS is estimated to impact one out of every 30,000 births globally.
The Company believes the addressable patient population in the United States and Europe for Livmarli for cholestatic pruritus in patients with progressive familial intrahepatic cholestasis (“PFIC”) is approximately 1,000 pediatric PFIC patients and more than 4,000 adult PFIC patients.
The Company believes the addressable patient population in the United States and Europe for Livmarli for BA is approximately 2,000 BA patients.
The Company estimates that approximately 300 patients have been diagnosed in the United States with fibrodysplasia ossificans progressiva (“FOP”) and that the prevalent patient population worldwide is approximately 900 FOP patients.
Forward-Looking Statements
Certain statements contained in this report are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include, without limitation, statements regarding clinical relevance of maralixibat efficacy in real world settings for patients with cholestatic pruritus in settings covered by the Phase 3 EXPAND study, expectations regarding maralixibat ongoing development following the Phase 3 EXPAND study, the commercial impact of any additional maralixibat regulatory approvals, any potential regulatory submission timelines based upon the Phase 3 EXPAND study data, the estimated total addressable markets for the Company’s approved medicines and product candidates, and assumptions regarding the prevalence of the diseases the Company’s approved medicines and product candidates are designed to target. The inclusion of forward-looking statements should not be regarded as a representation by the Company that any of these results will be achieved. Actual results may differ from those set forth in this report due to the risks and uncertainties associated with research and development of pharmaceutical product candidates, as well as risks and uncertainties inherent in the Company’s business, including those described in the Company’s other filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. All forward-looking statements are



qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Mirum Pharmaceuticals, Inc.
Date: October 13, 2026By:/s/ Christopher Peetz
Christopher Peetz
Chief Executive Officer

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