Estados financieros detallados de Mirum Pharmaceuticals, Inc. (MIRM): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 81.7%, margen operativo -17.4%, margen neto -139.2%.
Al precio actual de $97.37, MIRM presenta beneficios negativos (P/E no significativo) y un ROE del -410.20%. La capitalización bursátil es de $5.9B.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | $19.1M | $77.1M | $186.4M | $336.9M | $521.3M |
| Coste de Ventas | 0 | $324000 | $623000 | $1.9M | $12.4M | $47.0M | $81.6M | $100.6M |
| Beneficio Bruto | 0 | -$324000 | -$623000 | $17.2M | $64.7M | $139.3M | $255.2M | $420.7M |
| I+D | $2.3M | $43.0M | $81.6M | $131.4M | $106.8M | $102.6M | $140.6M | $186.2M |
| Generales y Administrativos | $585000 | $11.8M | $22.7M | $59.2M | $89.1M | $145.9M | $202.2M | $257.0M |
| Gastos Operativos | $2.9M | $54.7M | $103.7M | $190.6M | $195.9M | $248.5M | $342.9M | $443.2M |
| Beneficio Operativo | -$2.9M | -$54.7M | -$104.3M | -$173.4M | -$131.2M | -$109.2M | -$87.6M | -$22.1M |
| EBITDA | -$17.3M | -$52.2M | -$102.3M | -$65.4M | -$122.9M | -$136.5M | -$49.0M | $17.2M |
| Gastos por Intereses | 0 | 0 | $335000 | $17.6M | $16.0M | $15.1M | $14.3M | $14.4M |
| Beneficio Antes de Impuestos | -$17.3M | -$52.5M | -$103.3M | -$84.0M | -$142.1M | -$162.4M | -$86.9M | -$21.4M |
| Impuestos | 0 | $21000 | $6000 | $37000 | -$6.4M | $991000 | $1.0M | $1.9M |
| Beneficio Neto | -$17.3M | -$52.6M | -$103.3M | -$84.0M | -$135.7M | -$163.4M | -$87.9M | -$23.4M |
| BPA | $-0.75 | $-2.29 | $-4.09 | $-2.77 | $-4.01 | $-4.00 | $-1.85 | $-0.47 |
| BPA Diluido | $-0.75 | $-2.29 | $-4.09 | $-2.77 | $-4.02 | $-4.00 | $-1.85 | $-0.47 |
| Acciones en Circulación (Diluidas) | $23.0M | $23.0M | $25.3M | $30.3M | $34.0M | $40.9M | $47.5M | $50.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $133.0M | $148.9M | $159.9M | $176.2M |
| Beneficio Bruto | $107.5M | $120.6M | $131.0M | $145.9M |
| Beneficio Operativo | $2.6M | -$4.6M | -$63.2M | -$42.5M |
| EBITDA | $9.1M | $4.7M | -$779.2M | -$11.4M |
| Beneficio Neto | $2.9M | -$5.7M | -$790.2M | -$67.2M |
| BPA | $0.05 | $-0.12 | $-13.43 | $-1.06 |
| BPA Diluido | $0.05 | $-0.12 | $-13.43 | $-1.06 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $52.0M | $12.0M | $142.1M | $31.3M | $28.0M | $286.3M | $222.5M | $296.7M |
| Inversiones a Corto | 0 | $104.7M | $89.7M | $125.2M | $123.7M | 0 | $57.8M | $86.6M |
| Cuentas por Cobrar | 0 | 0 | 0 | $4.4M | $24.0M | $68.0M | $78.3M | $123.3M |
| Inventario | 0 | 0 | 0 | $1.5M | $5.6M | $22.3M | $22.4M | $24.9M |
| Activos Corrientes | $52.0M | $119.4M | $236.3M | $166.6M | $190.2M | $387.5M | $392.8M | $549.7M |
| Inmovilizado Material | 0 | $3.7M | $3.2M | $2.5M | $2.3M | $2.0M | $9.8M | $10.6M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | $18.7M | $59.0M | $252.9M | $249.8M | $260.9M |
| Activos Totales | $52.0M | $146.7M | $240.9M | $294.7M | $352.9M | $646.6M | $670.8M | $842.8M |
| Cuentas por Pagar | $269000 | $3.4M | $3.2M | $9.2M | $8.7M | $7.4M | $14.6M | $9.6M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $2.4M | $13.1M | $18.5M | $42.6M | $64.7M | $87.1M | $126.6M | $205.8M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | $306.4M | $308.1M | $309.8M |
| Pasivos Totales | $62.3M | $16.4M | $68.8M | $174.4M | $210.9M | $398.0M | $445.1M | $528.1M |
| Reservas | -$17.3M | -$69.9M | -$173.2M | -$257.2M | -$392.8M | -$556.2M | -$644.2M | -$667.5M |
| Patrimonio Neto | -$10.3M | $130.3M | $172.1M | $120.2M | $142.0M | $248.7M | $225.6M | $314.7M |
| Deuda Total | 0 | $3.6M | $3.3M | $2.6M | $2.2M | $308.1M | $317.8M | $319.5M |
| Deuda Neta | -$52.0M | -$113.0M | -$228.6M | -$153.9M | -$149.5M | $21.8M | $37.4M | -$63.9M |
| Capital Circulante | $49.5M | $106.3M | $217.9M | $124.0M | $125.5M | $300.5M | $266.2M | $343.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $282.0M | $296.7M | $324.9M | $330.7M |
| Activos Totales | $785.1M | $842.8M | $890.9M | $1.04B |
| Pasivos Totales | $493.1M | $528.1M | $648.4M | $1.06B |
| Patrimonio Neto | $292.0M | $314.7M | $242.5M | -$10.4M |
| Deuda Total | $318.8M | $319.5M | $323.8M | $760.5M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$17.3M | -$52.6M | -$103.3M | -$84.0M | -$135.7M | -$163.4M | -$87.9M | -$23.4M |
| Amortizaciones | 0 | $324000 | $623000 | $975000 | $3.7M | $10.8M | $23.6M | $24.2M |
| Compensación en Acciones | $51000 | $6.1M | $12.6M | $23.1M | $27.0M | $35.0M | $48.4M | $71.4M |
| Cambio en Capital Circulante | $2.4M | $7.1M | $611000 | $17.0M | -$21.1M | -$22.6M | $22.6M | -$19.7M |
| Flujo de Caja Operativo | -$373000 | -$39.4M | -$89.1M | -$132.8M | -$120.1M | -$70.9M | $10.3M | $55.8M |
| Inversiones (CapEx) | -$7.5M | -$281000 | -$225000 | -$19.0M | -$278000 | -$20.1M | -$993000 | -$954000 |
| Adquisiciones | 0 | $127.5M | -$38.1M | -$19.0M | -$8.0M | -$212.8M | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$7.9M | -$39.6M | -$89.3M | -$151.8M | -$120.4M | -$91.1M | $9.3M | $54.9M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $39.7M | $6.1M | -$228.8M | -$273.0M |
| Inversiones (CapEx) | -$187000 | -$600000 | -$664000 | -$687000 |
| Flujo de Caja Libre | $39.5M | $5.5M | -$229.4M | -$273.7M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $18.1M | $19.0M | $36.2M | $66.8M |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | +302.7% | +141.8% | +80.8% | +54.7% |
| Crecimiento Beneficio Neto (anual) | | -202.9% | -96.5% | +18.7% | -61.5% | -20.5% | +46.2% | +73.4% |
| Crecimiento BPA (anual) | | -205.3% | -78.6% | +32.3% | -44.8% | +0.2% | +53.8% | +74.6% |
| Cambio en Acciones (anual) | | +0.0% | +9.8% | +20.1% | +12.1% | +20.3% | +16.2% | +5.6% |
| Crecimiento FCF (anual) | | -403.5% | -125.3% | -70.0% | +20.7% | +24.4% | +110.2% | +488.0% |
| Margen Bruto | | | | 90.1% | 83.9% | 74.8% | 75.8% | 80.7% |
| Margen Operativo | | | | -906.1% | -170.3% | -58.6% | -26.0% | -4.2% |
| Margen EBITDA | | | | -341.7% | -159.4% | -73.2% | -14.5% | 3.3% |
| Margen Neto | | | | -438.9% | -176.0% | -87.7% | -26.1% | -4.5% |
| Margen FCF | | | | -793.1% | -156.3% | -48.9% | 2.8% | 10.5% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | 4.5% | -0.6% | -1.2% | -9.0% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.34 | $-1.72 | $-3.54 | $-5.01 | $-3.54 | $-2.23 | $0.20 | $1.09 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $23.0M | $23.0M | $25.3M | $30.3M | $33.8M | $40.9M | $47.5M | $50.2M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -410.20% |
| Rentabilidad sobre capital invertido | -13.09% |
| Rentabilidad sobre activos | -82.32% |
| Margen bruto | 81.70% |
| Margen operativo | -17.42% |
| Margen neto | -139.18% |
Salud financiera
| Deuda / Patrimonio | -72.97 |
| Ratio corriente | 2.86 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 4.42 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -17.61 | -10.71 | -4.27 | -5.76 | -4.86 | -7.38 | -22.35 | -168.06 |
| P/VC | -29.42 | 4.32 | 2.56 | 4.02 | 4.65 | 4.85 | 8.71 | 12.60 |
| P/V | 0.00 | 0.00 | 0.00 | 25.27 | 8.56 | 6.48 | 5.83 | 7.61 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 90.1% | 83.9% | 74.8% | 75.8% | 80.7% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | -906.1% | -170.3% | -58.6% | -26.0% | -4.2% |
| Margen Neto | 0.0% | 0.0% | 0.0% | -438.9% | -176.0% | -87.7% | -26.1% | -4.5% |