Company: MIRM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001759425-25-000041
Chunk: 372

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 372
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 three months ended June 30, 2025, an increase of $13.4 million compared to the three months ended June 30, 2024. The increase was primarily due to:

•for volixibat programs, an increase of $4.7 million, primarily due to increased expenses associated with conduct of the PSC and PBC trials as well as manufacturing development expenses;

•for MRM-3379, an increase of $2.7 million, primarily due to planning for our Phase 2 study in Fragile X Syndrome and clinical manufacturing expenses;

•for personnel related and stock-based compensation expenses, an increase of $10.2 million related primarily to increased employee headcount and related equity award grants to support our development pipeline, partially offset by

•for Livmarli, a decrease of $4.3 million, primarily due to lower costs due to discontinuation of the biliary atresia clinical trial and other clinical costs partially offset by increased expenses associated with the Livmarli Phase 3 EXPAND label expansion study.

Selling, General and Administrative Expenses

Selling, general and administrative expenses were $63.3 million for the three months ended June 30, 2025, an increase of $14.1 million compared to the three months ended June 30, 2024. The increase was primarily due to increases of $8.9 million in personnel and other compensation-related expenses, including an increase of $2.6 million in stock-based compensation, reflecting an increase in the number of our selling, marketing and administrative employees to support commercial activities for our approved medicines, $2.6 million in general administrative expenses, $1.7 million in advertising, promotion and medical affairs expenses associated with commercial activities, and $0.9 million of expenses associated with post marketing approval studies.

Interest Income

Interest income was $3.0 million for the three months ended June 30, 2025, a decrease of $0.5 million compared to the three months ended June 30, 2024 largely due to lower yields on investments. 

Interest Expense

Interest expense was $3.6 million for the three months ended June 30, 2025 and June 30, 2024, and related to interest expense incurred on our convertible notes.

27

Results of Operations for the Six Months Ended June 30, 2025 and 2024

The following table summarizes our results of operations for the six months ended June 30, 2025 and