Why Mirum Pharmaceuticals Stock Skyrocketed 44% Today

After updating investors earlier this week on the timeline for filing a new drug application for its lead drug candidate, maralixibat, in Alagille syndrome (ALGS), Mirum Pharmaceuticals (NASDAQ:MIRM) saw its shares rally 44.1% on Wednesday.

Mirum is a relatively new company dedicated to developing drugs for rare liver diseases. One of its founders, executive chairman Michael Grey, was previously behind the development of maralixibat at Lumena, which was acquired by Shire (NASDAQ: SHPG) in June 2014.

Image source: Getty Images.

Continue reading

Source Fool.com