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Primary Sclerosing Cholangitis: one US-listed biotech with a clinical-stage programme

Immunology & InflammationUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$6.5Buniverse median $1.20B
Allocated capital$2.2B$6.5B competing
Phase 3 or filed01 mid, 0 early
Pure plays0this indication only
Capital rank93/299crowding rank 122

Primary Sclerosing Cholangitis is uncontested. Mirum Pharmaceuticals (MIRM) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with Volixibat in phase 2.

There is no public comparable to price it against. MIRM spreads its $6.5B market cap across 3 indications, so $2.2B of it is allocated here.

Nothing here has reached Phase 3: 1 programme in mid stage and 0 in early stage, so the field is still several years from a first approval.

$2.2B of allocated capital sits in Primary Sclerosing Cholangitis, ranking it 93rd of 299 indications by the money committed to it.

Companies developing drugs for Primary Sclerosing Cholangitis 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
MIRMMirum PharmaceuticalsVolixibatPhase 21$6.5BNo3 26 Sep 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Primary Sclerosing Cholangitis counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Primary Sclerosing Cholangitis has one competitor and a median of $6.5B.

Immunology & Inflammation

Immunology & Inflammation holds $139B of the map's capital, 20.7% of the total, spread across 51 indications and 82 companies. 23 of those indications have more than one company competing.

See every Immunology & Inflammation indication on the map

Related indications in Immunology & Inflammation

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Primary Sclerosing Cholangitis pipeline questions

Which biotech companies are developing drugs for Primary Sclerosing Cholangitis?

Mirum Pharmaceuticals (MIRM, Volixibat, Phase 2). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Primary Sclerosing Cholangitis.

How advanced is the Primary Sclerosing Cholangitis pipeline?

Of the 1 clinical-stage programme in Primary Sclerosing Cholangitis, 0 are in Phase 3 or filed, 1 is in mid-stage development and 0 are in early-stage development.

Is anyone else developing a drug for Primary Sclerosing Cholangitis?

No. MIRM is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Primary Sclerosing Cholangitis, which is why the indication is classified as uncontested.

When is the next Primary Sclerosing Cholangitis catalyst?

The next dated catalyst in Primary Sclerosing Cholangitis is MIRM on 26 Sep 2026. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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