Company: MIRM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001759425-25-000032
Chunk: 347

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 347
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 202923,575 Thereafter131,405  $243,845 

13

Accrued ExpensesAccrued expenses consist of the following (in thousands): March 31,2025December 31,2024Accrued sales deductions$43,132 $37,361 Accrued compensation and related benefits16,599 32,248 Accrued professional service fees13,969 12,545 Accrued contract manufacturing and non-clinical costs8,304 7,555 Accrued royalties payable10,088 9,361 Accrued clinical trials9,843 7,148 Accrued interest5,271 2,108 Accrued loss on firm purchase commitments2,088 1,898 Operating lease liabilities, current1,644 1,709 Accrued milestone payment5,000 — Total accrued expenses and other current liabilities$115,938 $111,933 Other liabilitiesOther liabilities consist of the following (in thousands): March 31,2025December 31,2024Noncurrent accrued sales deductions and other$9,952 $— Noncurrent accrued loss on firm purchase commitments3,948 2,509 Total other liabilities$13,900 $2,509 

6. Asset Acquisitions

License Agreement with Enthorin Therapeutics, LLCIn October 2024, the Company entered into a license agreement with Enthorin Therapeutics, LLC and Dart Neuroscience LLC (“Enthorin”), under which the Company acquired the worldwide rights to develop, manufacture and commercialize a compound designated as ENT-3379, renamed MRM-3379, in exchange for an upfront payment of $7.5 million and up to an additional $217.5 million upon the achievement of regulatory and sales-based milestones as well as mid-single digit percent royalties on any future sales of MRM-3379. Asset Purchase Agreement with Travere Therapeutics, Inc.On August 31, 2023, the Company completed the acquisition of assets of Travere Therapeutics, Inc. (“Travere”). In accordance with the terms and conditions of the Asset Purchase Agreement entered into with Travere, the Company purchased from Travere substantially all of the assets related to its business of development, manufacturing (including synthesis, formulation, finishing or packaging) and commercialization of the Bile Acid Medicines. The Company paid $210.4