Mirum completes acquisition of Bluejay Therapeutics with $268.5M PIPE; Bluejay reports 2025 net loss of $101.7M

Mirum Pharmaceuticals, Inc.

Concurrent PIPE raised $268.5M gross at $68.48/sh including pre-funded warrants.
Bluejay 2025 audited: net loss $101.7M, R&D $87.1M, total assets $85.6M, accumulated deficit $190M.
Bluejay had substantial doubt about going concern; Mirum committed to fund operations post-close.
Lead candidate brelovitug (BJT-778) for chronic hepatitis delta is in clinical development.
Pro forma financials for combined entity filed; acquisition closed Jan 23, 2026.

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