Company: MIRM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001759425-25-000054
Chunk: 423

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 423
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 solid dose formulation in Livmarli and $0.7 million in general supply chain support costs. These increases were partially offset by lower product cost of sales of $1.6 million primarily 

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related to the Bile Acid Medicines as we substantially completed the sale of acquired inventory in prior periods which had been recorded at fair value.

Research and Development Expenses

The following table summarizes the period-over-period changes in research and development expenses relating to our product candidates in development for the periods indicated (in thousands):

Three Months Ended September 30,Change20252024Product-specific costs:Livmarli$3,033 $6,060 $(3,027)Volixibat12,725 8,270 4,455 MRM-33793,510 — 3,510 Non product-specific costs:Stock-based compensation5,676 3,571 2,105 Personnel13,022 8,760 4,262 Other4,994 5,049 (55)Total research and development expenses$42,960 $31,710 $11,250 

Research and development expenses were $43.0 million for the three months ended September 30, 2025, an increase of $11.3 million compared to the three months ended September 30, 2024. The increase was primarily due to:

•for volixibat programs, an increase of $4.5 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 $3.5 million, primarily due to planning for our Phase 2 study in FXS and clinical manufacturing expenses; and

•for personnel related and stock-based compensation expenses, an increase of $6.4 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 $3.0 million, primarily due to lower costs from the PFIC rollover study 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 $61.9 million for the three months ended September 30, 2025, an increase of $11.4 million compared to the three months ended September 30, 2024. The increase was