Mirum Pharmaceuticals, Inc. (NASDAQ: MIRM) completed a private placement of 1,000,000 shares of its common stock at $68.48 per share, generating approximately $68.5 million in gross proceeds. The placement was executed with entities associated with TCGX, and the transaction is expected to close in the first quarter of 2026 alongside the company’s pending acquisition of Bluejay Therapeutics.
The proceeds will be combined with a $200 million private placement announced earlier in December to fund clinical development, commercial activities, and the Bluejay acquisition. The acquisition, announced on December 8, 2025, values Bluejay at up to $820 million, comprising $250 million in cash, $370 million in Mirum common stock, and up to $200 million in milestone payments. The financing therefore provides the capital necessary to accelerate the integration of Bluejay’s late‑stage brelovitid asset into Mirum’s rare‑liver disease pipeline.
Mirum’s recent financials show a 53.66% year‑over‑year revenue increase to $471.79 million, driven by strong demand for its commercial products, while the company remains unprofitable with an EPS of –$0.84 for the last twelve months. The balance sheet remains robust, with a current ratio of 3.31 and moderate debt, giving the company ample liquidity to support the new capital infusion.
Management emphasized that the financing aligns with Mirum’s strategy to build a portfolio of high‑impact rare‑disease therapies. “Our success is driven by a team dedicated to advancing high‑impact medicines,” said a company spokesperson, highlighting the company’s focus on strategic development and disciplined execution.
Analysts have responded positively to the combined financing and acquisition, raising price targets. The market view reflects confidence that the capital raise will enable Mirum to execute its growth plan and integrate Bluejay’s assets, reinforcing the company’s leadership in rare liver diseases.
With the private placement and Bluejay acquisition set to close in early 2026, Mirum is positioned to strengthen its pipeline, expand commercial capabilities, and continue delivering value to patients and investors.
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