Company: MIRM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001759425-25-000041
Chunk: 398

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 398
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 the lease for which was entered into in January 2024 and has a lease term of approximately five years. In March 2025, the Company entered into an operating lease agreement for office space at an international location. The lease commenced in the second quarter of 2025 and has a lease term of approximately five years.The following tables contain a summary of other information and the undiscounted future minimum payments pertaining to the Company’s operating leases that had commenced as of the end of the periods presented:June 30, 2025Weighted-average incremental borrowing rate7.4%Weighted-average remaining lease term (in years)4.3 yearsUndiscounted Rent Paymentsas of June 30, 2025  (in thousands)2025 (remaining six months)$1,415 20262,668 20272,733 20282,734 20291,948 Thereafter99 Total undiscounted lease payments11,597 Less: imputed interest(1,632)Total lease liability$9,965 Rent expense was $0.6 million and $1.2 million for the three and six months ended June 30, 2025, respectively, and $0.5 million and $0.7 million for the three and six months ended June 30, 2024, respectively. Variable lease payments for operating expenses for the three and six months ended June 30, 2025 and 2024 were not material.

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9. Convertible Notes

Except as described below, the Company’s convertible notes are described in Note 10 of the “Notes to Consolidated Financial Statements” in the Annual Report.The convertible notes consisted of the following (in thousands): June 30, 2025December 31, 2024Principal amount$316,241 $316,250 Unamortized debt discount and issuance costs(7,308)(8,168)Net carrying amount$308,933 $308,082 For each of the fourth quarter of 2024 and the first and second quarters of 2025, the last reported sale price of the Company’s common stock exceeded 130% of the conversion price of the 4.00% Convertible Senior Notes due 2029 (the “Notes”) for more than 20 trading days during the 30 consecutive trading days ended December 31, 2024, March 31, 2025 and June 30, 2025, respectively. As a