Mirum Pharmaceuticals to Acquire Bluejay Therapeutics for Up to $820M

Mirum Pharmaceuticals, Inc.

Mirum pays $250M cash and up to 5.2M shares (≈$370M) at closing, plus up to $200M in milestone payments for Bluejay Therapeutics.
Acquisition adds brelovitug, a Phase 3 monoclonal antibody for chronic hepatitis D (HDV) with Breakthrough Therapy and PRIME designations.
Mirum also raised $200M in a PIPE from investors including Morgan Stanley, Leerink, Cantor, Raymond James, and Citizens JMP.
Top-line Phase 3 data for brelovitug expected in second half of 2026; BLA submission anticipated in first half of 2027.
Transaction expected to close in Q1 2026, subject to HSR clearance, stockholder approval, and other customary conditions.

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