MIRUM PHARMACEUTICALS, INC.

(MIRM)
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Mirum Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(4)

01/11/2022 | 10:03am EDT

FOSTER CITY, Calif. - Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) announced that on January 10, 2022, the Compensation Committee of Mirum's Board of Directors granted inducement awards consisting of non-qualified stock options to purchase 51,700 shares of common stock and 7,150 restricted stock units ('RSUs') to five new employees under Mirum's 2020 Inducement Plan. The Compensation Committee of Mirum's Board of Directors approved the awards as an inducement material to the new employees' employment in accordance with Nasdaq Listing Rule 5635(4).

Each stock option has an exercise price per share equal to $15.50 per share, Mirum's closing trading price on January 10, 2022, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees' continued service relationship with Mirum through the applicable vesting dates. The RSUs will vest over three years, with 33% of the underlying shares vesting on each anniversary of the applicable vesting commencement date, subject to the new employees' continued service relationship with Mirum through the applicable vesting dates. The awards are subject to the terms and conditions of Mirum's 2020 Inducement Plan and the terms and conditions 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. Mirum's approved medication is LIVMARLI (maralixibat) oral solution which is approved in the U.S. for the treatment of cholestatic pruritus in patients with Alagille syndrome one year of age and older.

Mirum's late-stage pipeline includes two investigational treatments for debilitating liver diseases affecting children and adults. Maralixibat (LIVMARLI), an oral ileal bile acid transporter (IBAT) inhibitor, is currently being evaluated in clinical trials for pediatric liver diseases and includes the MARCH Phase 3 study for progressive familial intrahepatic cholestasis (PFIC) and the EMBARK Phase 2b study for patients with biliary atresia. In addition, Mirum has an expanded access program open in Canada, Australia, the UK and several countries in Europe for eligible patients with Alagille syndrome.

Mirum has submitted a Marketing Authorization Application to the European Medicines Agency for maralixibat for the treatment of cholestatic liver disease in patients with Alagille syndrome.

Mirum's second investigational treatment, volixibat, also an oral IBAT inhibitor, is being evaluated in three potentially registrational studies including the OHANA Phase 2b study for pregnant women with intrahepatic cholestasis of pregnancy, VISTAS Phase 2b study for adults with primary sclerosing cholangitis, and the VANTAGE Phase 2b study for primary biliary cholangitis.

Contact:

Investor

Ian Clements, Ph.D.

E: ir@mirumpharma.com

Sam Martin

Argot Partners

E: ir@mirumpharma.com

Media

Erin Murphy

E: media@mirumpharma.com

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 72,1 M - -
Net income 2022 -154 M - -
Net cash 2022 131 M - -
P/E ratio 2022 -5,45x
Yield 2022 -
Capitalization 769 M 769 M -
EV / Sales 2022 8,85x
EV / Sales 2023 4,07x
Nbr of Employees 144
Free-Float 95,1%
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Number of Analysts 7
Last Close Price 24,21 $
Average target price 57,14 $
Spread / Average Target 136%
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Managers and Directors
Christopher Peetz President, Chief Executive Officer & Director
Ian Clements Chief Financial Officer
Michael G. Grey Chairman
Pamela Vig Head-Research & Development
Peter Radovich Chief Operating Officer
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