Company: MIRM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001759425-25-000054
Chunk: 412

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 412
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5: Number ofAwardsWeighted-Average Grant DateFair Value per AwardUnvested and outstanding as of December 31, 2024 284,955$25.15 Granted217,547$40.18 Vested(147,675)$23.92 Cancelled/Forfeited(1,084)$25.39 Unvested and outstanding as of September 30, 2025 353,743$34.91 As of September 30, 2025, the total unrecognized stock compensation related to performance stock units granted was $11.9 million, which the Company expects to recognize over a weighted-average period of approximately 1.6 years.

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Compensation ExpenseTotal stock-based compensation is reflected in the accompanying unaudited condensed consolidated statements of operations as follows (in thousands):  Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Selling, general and administrative$12,122 $8,018 $32,971 $23,578 Research and development5,676 3,571 18,529 10,978 Cost of sales329 319 898 637 Total$18,127 $11,908 $52,398 $35,193 Stock-based compensation capitalized into inventory was $0.2 million for each of the three months ended September 30, 2025 and 2024, and $0.5 million and $0.9 million for the nine months ended September 30, 2025 and 2024, respectively.

12. Segment Reporting

The Company’s chief operating decision maker (“CODM”), the Chief Executive Officer, manages the Company’s operations and business as one operating segment and allocates resources to operations of the Company on an entity-wide basis. The CODM assesses performance of the Company and determines resource allocation primarily based on net product sales and income (loss) from operations on a consolidated basis. The CODM uses income (loss) from operations to monitor budget versus actual results and considers any adjustments and actions required for good fiscal management.The Company’s CODM is regularly provided with entity-wide expense categories similar to those found in the consolidated statements of operations, as well as the following (in thousands): Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Revenue:  Product sales, net$133,010 $90,302