Company: MIRM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001759425-25-000041
Chunk: 356

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 356
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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 result, for the quarterly periods ended March 31, 2025 and June 30, 2025, respectively, the Notes were, and for the quarterly period ending September 30, 2025, the Notes are, convertible at the option of the holders of the Notes. During the three and six months ended June 30, 2025 and through the date of this filing, the amount of the principal balance of the Notes that has been converted was not material.The Company incurred $10.9 million of transaction costs related to the issuance of the Notes, which are being amortized to interest expense over the term of the Notes using the effective interest method. As of June 30, 2025, the remaining amortization period of the debt discount was approximately 3.8 years and the effective interest on the Notes was 4.