Company: MIRM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001759425-25-000032
Chunk: 356

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 356
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 March 31, 20252024Selling, general and administrative$10,243 $7,589 Research and development5,229 3,861 Cost of sales331 — Total$15,803 $11,450 Stock-based compensation capitalized into inventory was $0.2 million for each of the three months ended March 31, 2025 and 2024.

12. Segment Reporting

The Company’s chief operating decision maker (“CODM”), the Chief Executive Officer, manages the Company’s operations and business as one operating segment and allocates resources to operations of the Company on an entity-wide basis. The CODM assesses performance of the Company and determines resource allocation primarily based on net product sales and loss from operations on a consolidated basis. The CODM uses loss from operations to monitor budget versus actual results and considers any adjustments and actions required for good fiscal management.The Company’s CODM is regularly provided with entity-wide expense categories similar to those found in the consolidated statements of operations, as well as the following (in thousands): Three Months Ended March 31, 20252024Revenue:  Product sales, net$111,585 $68,917 License and other revenue— 305 Total revenue111,585 69,222 Less:Cost of sales (excluding intangible amortization and other non-cash expenses)17,124 10,220 General and administrative expenses (excluding stock-based compensation)11,681 11,616 Commercialization and Medical Affairs expenses (excluding stock-based compensation)35,782 26,433 Research and development expenses (excluding stock-based compensation)40,815 28,361 Stock-based compensation15,472 11,450 Intangible amortization and other non-cash expenses5,894 7,610 Loss from operations$(15,183)$(26,468)

13. Commitments and Contingencies

Certain of the Company’s contractual arrangements with contract manufacturing organizations require binding forecasts or commitments to purchase minimum amounts for the manufacture of drug product supply, which may be material to the Company's unaudited condensed consolidated financial statements.The Company is subject to potential liabilities under government regulations and various claims and legal actions that are pending or may be asserted from time-to-time. These matters arise in the ordinary course and conduct of the Company’s business and may include, for example, commercial, intellectual property, and employment matters. The Company intends to defend itself vigorously in such matters and when warranted,