Shares of Mirum Pharmaceuticals Inc. on Wednesday dropped after the biopharmaceutical company posted lower-than-expected earnings and revenue for the third quarter.
Shares at 12:21 E.T. were down 19% at $19.33.
The company said its net loss narrowed to $35.7 million, or $1.02, compared with a loss of $47.1 million, or $1.55 a share, for the same period a year earlier. Analysts surveyed by FactSet had forecast a loss of $34.9 million for the period.
The company’s operating expenses increased to $51.7 million from $47.8 million a year earlier.
Revenue increased to $18.8 million from $5.0 million a year earlier, missing market views of achieving revenue of $20.8 million for the period.