Company: MIRM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001759425-25-000054
Chunk: 396

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 396
---
 partners, becomes known. Actual amounts may ultimately differ from the Company’s estimates. If actual results vary, the Company adjusts these estimates, which could have an effect on earnings in the period of adjustment. The Company is entitled to payment in connection with the supply of product under standard industry payment terms. Actual consideration amounts are determined and settled generally quarterly or annually. If the consideration received or receivable exceeds the Company’s estimates of product sales, the Company recognizes a liability. If the estimated product sales exceed the payment received or receivable, the Company records a receivable or contract asset related to the amounts not yet collected, depending on the circumstances. As of September 30, 2025, the Company did not have any contract assets and recorded a liability of $3.6 million related to consideration received in excess of the Company’s estimated net product sales.Liabilities associated with sales deductions are included in accrued expenses and other current liabilities or in other liabilities on the accompanying unaudited condensed consolidated balance sheets depending on contractual settlement timelines.The following table represents total revenues and disaggregates Product sales, net by approved medicine (in thousands): Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Product sales, net:  Livmarli$92,235 $59,126 $253,619 $149,202 Bile Acid Medicines40,775 31,176 118,761 87,777 Total product sales, net133,010 90,302 372,380 236,979 License and other revenue— 75 — 495 Total revenues$133,010 $90,377 $372,380 $237,474 The following table sets forth Product sales, net by geographic area based on the ship-to location (in thousands): Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024United States$103,713 $73,905 $286,167 $195,096 Rest of the world29,297 16,397 86,213 41,883 Total product sales, net$133,010 $90,302 $372,380 $236,979 Foreign CurrencyThe unaudited condensed consolidated financial statements are presented in U.S. dollars. The functional currency for most of the Company’s foreign subsidiaries is their local currency. Balance sheet accounts of international subsidiaries are translated at the current exchange rates