Mirum Pharmaceuticals Reports Incentive Grants Pursuant to Nasdaq Listing Rule 5635(c)(4)

FOSTER CITY, Calif., October 10, 2024–(BUSINESS WIRE)–Mirum Pharmaceuticals, Inc. (NASDAQ: MIRM) today announced that on October 10, 2024, the Compensation Committee of Mirum’s Board of Directors granted incentive awards consisting of non-qualified stock options to purchase 34,100 shares of common stock and 17,050 Restricted Stock Units (“RSUs”) to four new employees as part of Mirum’s 2020 Incentive Plan. The Compensation Committee of Mirum’s Board of Directors approved the awards as incentive material for the hiring of the new employees in accordance with Nasdaq Listing Rule 5635(c)(4).

Each stock option has a per share exercise price equal to $38.48 per share, Mirum’s closing price on October 10, 2024, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary The remaining amount of the underlying shares will then vest monthly over a period of 36 months, subject to the new employees’ continued service relationship with Mirum up to the respective exercise dates. The RSUs vest over a period of three years, with 33% of the underlying shares vesting on each anniversary of the respective vesting commencement dates, subject to the new employees’ continued service with Mirum through the respective vesting dates. The awards are subject to the terms of Mirum’s 2020 Incentive Plan and the terms of an applicable award agreement covering the grant.

About Mirum Pharmaceuticals, Inc.

Mirum Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to transforming the treatment of rare diseases in children and adults. Mirum has three approved medications: LIVMARLI® (maralixibat) oral solution, CHOLBAM® (cholic acid) capsules and CHENODAL® (chenodiol) tablets.

LIVMARLI, an IBAT inhibitor, is approved for the treatment of two rare liver diseases in children and adults. It is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States (three months and older), Europe (two months and older), and other regions worldwide. It is also approved in the United States for the treatment of cholestatic pruritus in PFIC patients 12 months of age and older; In Europe it is approved for patients with PFIC from three months of age. Mirum is also initiating the Phase 3 EXPAND study, an opportunity to expand the label for LIVMARLI in additional cases of cholestatic pruritus. CHOLBAM is FDA-approved for the treatment of bile acid synthesis disorders due to single enzyme deficiencies and as an adjunctive treatment of peroxisomal disorders in patients with signs or symptoms of liver disease. CHENODAL has received FDA recognition of medical necessity for the treatment of patients with cerebrotendinous xanthomatosis (CTX).

The story continues

Mirum’s late-stage pipeline includes two investigational drugs for debilitating liver diseases. Volixibat, an IBAT inhibitor, is being evaluated in two potential pivotal trials, including the Phase 2 VISTAS trial for primary sclerosing cholangitis (PSC) and the Phase 2b VANTAGE trial for primary biliary cholangitis. Volixibat has received breakthrough therapy designation for the treatment of cholestatic pruritus in patients with PBC. Finally, chenodiol was evaluated in a phase 3 clinical trial, RESTORE, for the treatment of patients with CTX. Positive topline results were reported in 2023. Mirum has submitted a new drug application to the FDA for approval of chenodiol for the treatment of CTX US

To learn more about Mirum, visit mirumpharma.com and follow Mirum on Facebook, LinkedIn, Instagram and X.

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