Company: MIRM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001759425-25-000041
Chunk: 403

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 403
---
, 2025, the total unrecognized stock compensation related to performance stock units granted was $8.6 million, which the Company expects to recognize over a weighted-average period of approximately 1.7 years.

19

Compensation ExpenseTotal stock-based compensation is reflected in the accompanying unaudited condensed consolidated statements of operations as follows (in thousands):  Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Selling, general and administrative$10,606 $7,971 $20,849 $15,560 Research and development7,624 3,546 12,853 7,407 Cost of sales238 318 569 318 Total$18,468 $11,835 $34,271 $23,285 Stock-based compensation capitalized into inventory was $0.1 million and $0.5 million for each of the three months ended June 30, 2025 and 2024, respectively, and $0.3 million and $0.7 million for the six months ended June 30, 2025 and 2024, respectively.

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 June 30,Six Months Ended June 30, 2025202420252024Revenue:  Product sales, net$127,785 $77,760 $239,370 $146,677 License and other revenue— 115 — 420 Total revenue127,785 77,875 239,370 147,097 Less:Cost of sales (excluding intangible amortization and other non-cash expenses)17,527 12,276 34,651 22,496 General and administrative expenses (excluding stock-based compensation)13,090 10,406 24,771 22,022