Company: MIRM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001759425-25-000032
Chunk: 352

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 352
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 for more than 20 trading days during the 30 consecutive trading days ended December 31, 2024 and March 31, 2025, respectively. As a result, for the quarterly period ended March 31, 2025, the Notes were, and for the quarterly period ending June 30, 2025, the Notes are, convertible at the option of the holders of the Notes. During the three months ended March 31, 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 March 31, 2025, the remaining amortization period of the debt discount was approximately 4.1 years and the effective interest on the Notes was 4.6%. The following table sets forth interest expense recognized related to the Notes (in thousands):Three Months Ended March 31, 20252024Coupon interest expense$3,163 $3,163 Amortization of debt discount and issuance costs433 414 Total interest expense on convertible notes$3,596 $3,577 As of March 31, 2025 and December 31, 2024, the estimated fair value of the Notes was $517.7 million and $481.9 million, respectively. The fair values were determined based on the quoted price of the convertible notes in an inactive market on the last trading day of the reporting period and have been classified as Level 2 in the fair value hierarchy.

10. Stockholders’ Equity

Common StockOn September 9, 2022, the Company filed an automatic shelf registration statement on Form S-3 with the SEC (the “2022 Shelf Registration”), which became effective upon filing, pursuant to which the Company registered for sale from time to time in one or more offerings an unlimited amount of any combination of the Company’s common stock, preferred stock, debt securities and warrants, so long as the Company continues to satisfy the requirements of a “well-known seasoned issuer” under SEC rules. This automatic shelf registration statement will remain in effect for up to three years from the date it became effective. As of March 31, 2025, the Company had not issued any securities pursuant to the automatic shelf registration statement.On November 2, 2023, the Company entered