Company: MIRM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001759425-25-000041
Chunk: 394

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 394
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Accrued clinical trials11,419 7,148 Accrued interest2,108 2,108 Accrued loss on firm purchase commitments2,088 1,898 Operating lease liabilities, current2,081 1,709 Total accrued expenses and other current liabilities$127,139 $111,933 Other liabilitiesOther liabilities consist of the following (in thousands): June 30,2025December 31,2024Noncurrent accrued sales deductions and other$5,106 $— Noncurrent accrued loss on firm purchase commitments3,948 2,509 Total other liabilities$9,054 $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. Through June 30, 2025, no milestones have been achieved.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 million upon closing of the transaction, and up to an additional $235.0 million is payable upon the achievement of certain milestones based on specified amounts of annual net sales of the Bile Acid Medicines. Through June 30, 2025, no milestones have been achieved.The Company is obligated to pay tiered royalties, based on licensing agreements acquired with the Bile Acid Medicines, with rates ranging from high single digit to mid-teens based on net sales of the Bile Acid Medicines.Assignment and License Agreement with Shire International GmbH (Takeda)In November 2018, the Company