Mirum Pharmaceuticals completed the acquisition of Bluejay Therapeutics for $620 million in cash and stock, with an option for an additional $200 million in sales-based milestones.[1][2][3] Terms include $250 million in cash and $370 million in Mirum stock at approximately $71 per share.[1][2][3] The subject of the acquisition is the drug brelovitug, a monoclonal antibody in the third phase of clinical trials for chronic hepatitis D and B.[1][2] Brelovitug targets a surface antigen that both viruses use to enter liver cells.[1][2] Results of the interim phase of the AZURE-1 study are expected in the second quarter of 2026, and the main results of the third phase in the second half of 2026.[1][5] Mirum plans to apply for FDA approval and launch in 2027.[2] The acquisition expands Mirum's rare liver disease portfolio and has been approved by both boards of directors, with closing expected in the first quarter of 2026.[3][7] At the same time, Mirum is raising 200 million dollars from the issue of shares to finance the development.[2]