Company: MIRM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001759425-25-000054
Chunk: 380

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 380
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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 primarily due to increases of $7.7 million in personnel and other compensation-related expenses, including an increase of $4.1 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, $1.7 million of legal, accounting and other outside services, $1.0 million in general administrative expenses and $1.0 million of expenses associated with post marketing approval studies.

Interest Income

Interest income was $3.3 million for the three months ended September 30, 2025, a decrease of $0.2 million compared to the three months ended September 30, 2024 largely due to lower yields on investments. 

Interest Expense

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

(Benefit from) provision for income taxes

Benefit from income taxes was $0.3 million benefit for the three months ended September 30, 2025 compared to $0.3 million provision for the three months ended September 30, 2024. The $0.3 million benefit for the three months ended September 30, 2025 was a result of the impact of the One Big Beautiful Bill Act (the “OBBBA”) as the Company 

28

will no longer be required to capitalize its domestic research and experiment costs under Section 174 of the Internal Revenue Code.

Results of Operations for the Nine Months Ended September 30, 2025 and 2024

The following table summarizes our results of operations for the nine months ended September 30, 2025 and 2024 (in thousands): 

 Nine Months Ended September 30,Change  20252024Revenue:Product