Who Owns Mirum Company?

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Who owns Mirum Pharmaceuticals?

Understanding Mirum Pharmaceuticals' ownership is key to grasping its strategic direction. Founded in 2018, the company focuses on novel therapies for liver diseases, especially rare cholestatic conditions.

Mirum's ownership structure transformed significantly after its IPO in July 2019. This event broadened its shareholder base, moving from venture capital backing to public trading.

Who holds the reins at Mirum Pharmaceuticals?

Mirum Pharmaceuticals, Inc. (NASDAQ: MIRM) went public on July 18, 2019, raising $75 million by selling 5 million shares at $15 each. This IPO established an initial market capitalization of $304 million. As of August 3, 2025, the company's market capitalization stands at approximately $2.58 billion, with trailing twelve-month revenue of $379 million as of June 30, 2025. The company's development of treatments like those analyzed in the Mirum BCG Matrix is a key factor in its valuation and investor interest.

Mirum Pharmaceuticals was established in May 2018 by its co-founders Chris Peetz, Niall O'Donnell, and Michael Grey. Their shared ambition was to pioneer novel treatments for rare liver conditions, including Alagille syndrome and progressive familial intrahepatic cholestasis. While the precise equity distribution among the founders at the company's inception is not publicly disclosed, their unified vision guided the initial research and development efforts.

Founding Team

Mirum Pharmaceuticals was co-founded in May 2018 by Chris Peetz (CEO), Niall O'Donnell, and Michael Grey. These individuals brought extensive experience in the biopharmaceutical sector to the company's establishment.

Core Mission

The founders' primary objective was to develop innovative therapies for underserved rare liver diseases. Their focus was on conditions like Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC).

Early Investment Landscape

Within months of its founding, the company successfully raised $120 million in a Series A financing round. This significant early capital infusion was critical for its initial operations and development pipeline.

Lead Investors

The Series A round was spearheaded by New Enterprise Associates (NEA). Several other notable venture capital firms, including Deerfield Management and Frazier Healthcare Partners, also participated.

Strategic Partnerships

Pharmaceutical companies Shire and Novo also secured early equity stakes in Mirum. This was in exchange for licensing rights to Maralixibat, a key product candidate for the company.

Impact of Early Funding

The substantial initial funding was instrumental in accelerating Mirum's growth and advancing its lead asset, Maralixibat. This capital allowed for critical research and development activities.

Founders and Initial Ownership Structure

Mirum Pharmaceuticals was co-founded in May 2018 by Chris Peetz, Niall O'Donnell, and Michael Grey, who aimed to develop therapies for rare liver diseases. The company's early ownership structure was shaped by its initial financing rounds, which included significant investments from venture capital firms and strategic partnerships with established pharmaceutical companies. These early investors, alongside the founders, played a crucial role in shaping the company's direction and advancing its lead product candidate. Understanding the Target Market of Mirum provides context for the company's strategic focus and investor interests.

• Founders: Chris Peetz, Niall O'Donnell, Michael Grey
• Founding Date: May 2018
• Primary Focus: Rare liver diseases (ALGS, PFIC)
• Series A Funding: $120 million in November 2018
• Lead Investor: New Enterprise Associates (NEA)
• Other Key Investors: Deerfield Management, Frazier Healthcare Partners, Rock Springs Capital, Pappas Capital, RiverVest Venture Partners
• Strategic Stakeholders: Shire, Novo

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Mirum Company's ownership landscape underwent a significant shift following its Initial Public Offering (IPO) on July 18, 2019. This event, which raised $75 million by offering 5 million shares at $15 each, established an initial market capitalization of $304 million and broadened the shareholder base, impacting early investors' stakes.

Institutional investors are the dominant force in Mirum Company's ownership structure, collectively holding 111.22% of the total shares outstanding as of July 28, 2025. This substantial institutional backing underscores significant confidence in the company's trajectory. Key players include Frazier Life Sciences Management, L.P., which held 13.72% with 6,795,121 shares as of March 31, 2025, and Janus Henderson Group Plc, owning 9.62% with 4,766,109 shares. BlackRock, Inc. follows with 6.74% (3,339,557 shares), while The Vanguard Group Inc. and Novo Holdings A/S also maintain notable positions. Further bolstering its capital for clinical development and market expansion, Mirum conducted an $80 million public offering in August 2022, reinforcing its strategic focus on rare liver diseases. Understanding who owns Mirum is crucial for assessing its strategic direction and potential for future growth.

Key Shareholders and Their Influence

Institutional investors represent the largest segment of Mirum Company's ownership. Their substantial stakes reflect a strong belief in the company's business model and future prospects.

• Frazier Life Sciences Management, L.P. is a significant stakeholder.
• Janus Henderson Group Plc and BlackRock, Inc. also hold considerable ownership.
• The Vanguard Group Inc. and Novo Holdings A/S are among other major institutional investors.
• Federated Hermes Inc. recently increased its holdings, indicating growing interest.
• These investors play a vital role in Mirum Company's financial ownership and strategic decisions.

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The Board of Directors at Mirum Pharmaceuticals is instrumental in guiding the company's strategic direction and corporate governance. As of early 2025, key members include CEO Chris Peetz and Chairman of the Board Michael Grey, a co-founder. Other notable directors are Laura Brege, Patrick Heron, Lon Cardon, Laurent Fischer, William C. Fairey, Timothy Walbert, and Saira Ramasastry.

Mirum Pharmaceuticals operates under a standard one-share-one-vote system for its common stock, a common practice for publicly traded entities. Shareholder meetings, such as the one held on May 29, 2025, are critical for electing directors and approving key corporate actions. Transparency regarding significant ownership is maintained through SEC filings, with beneficial owners holding over 5% of equity required to submit Schedule 13D/G forms. As of early 2025, CEO Chris Peetz held a direct ownership stake of 0.64%, valued at approximately $16.27 million, illustrating substantial insider investment. Other significant shareholders and insiders, including Joshua Makower, Peter W. Sonsini, David M. Mott, Peter J. Barris, Patrick J. Heron, and James E. Flynn, also possess considerable stakes, reflecting a diversified ownership structure that includes founders, management, and institutional investors.

Key Ownership and Voting Dynamics

Understanding Mirum Company ownership involves recognizing the influence of both management and institutional investors. The voting power is largely distributed based on share ownership, with significant stakes held by key individuals and investment firms.

• Majority of voting power typically resides with common stockholders.
• Institutional investors, like Frazier Healthcare Partners, often have board representation.
• Insider ownership, including that of the CEO, contributes to the overall ownership structure.
• Transparency is maintained through SEC filings for substantial shareholders.
• The company's corporate structure supports shareholder participation in key decisions.

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Mirum Pharmaceuticals has experienced significant ownership shifts over the past 3-5 years, influenced by its operational performance and broader market dynamics. As of March 2025, the company's 3-Month Share Buyback Ratio stood at -2.30%, indicating a lack of substantial share repurchases or potential share issuances during that period.

Institutional investors continue to hold a significant stake in Mirum, with 442 institutions collectively owning over 65 million shares as of July 28, 2025. This sustained interest from large investment firms highlights their confidence in the company's trajectory. Recent SEC filings, including Schedule 13G/A amendments in June 2025, further corroborate the ongoing beneficial ownership reports from various entities. While insiders, such as Joshua Makower with an 8.45% ownership stake, are present, there has been a net selling trend among insiders over the past twelve months.

Mirum's Financial Performance Highlights

In the first quarter of 2025, Mirum reported global net product sales of $111.6 million. LIVMARLI net product sales alone reached $73.2 million, marking a substantial 71% increase compared to the first quarter of 2024.

Leadership and Future Outlook

Recent leadership appointments include Doug Sheehy as Chief Legal Officer in May 2025 and Peter Radovich as President and Chief Operating Officer on January 16, 2024. The company projects global net product sales between $420 million and $435 million for 2025, anticipating positive operational cash flow.

Mirum Company Ownership Trends

Institutional ownership remains a key factor in Mirum Company's ownership structure. The consistent reporting of beneficial ownership through SEC filings underscores the active participation of investment firms. Understanding these trends is crucial for analyzing the Competitors Landscape of Mirum.

Insider Activity and Financial Projections

While insiders hold a notable ownership stake, their recent net selling activity suggests a shift in individual investment strategies. Mirum's financial projections for 2025, including anticipated revenue growth and positive cash flow, are expected to influence future ownership dynamics and potential strategic moves.

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