Just caught that Mirum Pharmaceuticals wrapped up enrollment on their brelovitug trials for hepatitis delta - AZURE-1 is done, AZURE-4 screening complete. They're looking at that 24-week data drop in H2 2026, which could set up for a BLA filing in 2027. Stock got hit 5.6% yesterday though, which is interesting given it's up 11.2% YTD overall.

What's actually impressive is their existing revenue engine. Livmarli (the pruritus treatment) pulled in $360M in 2025, up nearly 69% year-over-year. That drug handles cholestatic pruritus in multiple indications and they just got FDA approval for a new tablet formulation. Their bile acid products as a whole did $161M, up 31%. So they've got real revenue flowing while waiting on the HDV candidate.

The brelovitug acquisition from Bluejay back in January added a fully human monoclonal antibody to their pipeline, and HDV already got Breakthrough Therapy designation. It's a rare disease play but the revenue from Livmarli and their other approved drugs is actually solid. Curious if the stock dip is just profit-taking or if people are getting impatient on the trial timeline.