Company: MIRM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001759425-25-000041
Chunk: 417

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 417
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•for volixibat programs, an increase of $9.8 million, primarily due to increased expenses associated with conduct of the PSC and PBC trials as well as manufacturing development expenses;

•for MRM-3379, an increase of $3.4 million, primarily due to planning for our Phase 2 study in Fragile X Syndrome and clinical manufacturing expenses;

•for personnel related and stock-based compensation expenses, an increase of $13.8 million related primarily to increased employee headcount and related equity award grants to support our development pipeline; and

•for license fees, an increase of $5.0 million due to a development milestone payment associated with our EXPAND study, partially offset by

•for Livmarli, a decrease of $5.5 million primarily due to completion of clinical trials including the biliary atresia, PFIC rollover study and a safety study, lower general clinical support 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 $121.0 million for the six months ended June 30, 2025, an increase of $26.1 million compared to the six months ended June 30, 2024. The increase was primarily due to increases of $16.7 million in personnel and other compensation-related expenses, including an increase of $5.3 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, $5.0 million in advertising, promotion and medical affairs expenses associated with commercial activities, $2.8 million in other general administrative expenses and $1.6 million of expenses associated with post marketing studies.

Interest Income

Interest income was $6.1 million for the six months ended June 30, 2025, a decrease of $1.1 million compared to the six months ended June 30, 2024 largely due to lower yields on investments. 

Interest Expense

Interest expense for the six months ended June 30, 2025 was unchanged in comparison to the six months ended June 30, 2024, and related to interest expense incurred on our convertible notes.

Liquidity and Capital Resources

Overview

Since inception, we have funded our operations primarily through debt, equity, revenue interest financings and, to a lesser extent, cash from our product sales and license and collaboration revenue. We had $