Company: MIRM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001759425-25-000054
Chunk: 400

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 400
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 guidance also clarifies disclosure requirements for all capitalized internal-use software costs, ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements.

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3. Fair Value Measurements

Financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements by major security type are presented in the following table (in thousands): September 30, 2025 Level 1Level 2Level 3TotalFinancial assets:   Money market funds$229,140 $— $— $229,140 Corporate debt securities— 71,571 — 71,571 U.S. government bonds— 20,003 — 20,003 Commercial paper— 5,422 — 5,422 Total financial assets$229,140 $96,996 $— $326,136  December 31, 2024 Level 1Level 2Level 3TotalFinancial assets:    Money market funds$202,965 $— $— $202,965 U.S. treasury bills$2,964 $— $— $2,964 Corporate debt securities$— $37,978 $— $37,978 U.S. government bonds$— $26,904 $— $26,904 Agency bonds$— $2,492 $— $2,492 Total financial assets$205,929 $67,374 $— $273,303 The carrying amounts of certain financial instruments such as cash and cash equivalents, accounts receivable, prepaid expenses, other current assets, accounts payable and accrued expenses as of September 30, 2025 and December 31, 2024 approximate their related fair values due to their short-term nature.Money market funds and U.S. treasury bills are highly liquid investments and are actively traded. The pricing information on these investment instruments is readily available and can be independently validated as of the measurement date. This approach results in the classification of these securities as Level 1 of the fair value hierarchy. Certain financial instruments classified within Level 2 of the fair value hierarchy include the types