Company: MIRM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001759425-25-000032
Chunk: 394

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 394
---
 under the Company’s performance stock units for the three months ended March 31, 2025: Number ofAwardsWeighted-Average Grant DateFair Value per AwardUnvested and outstanding as of December 31, 2024 284,955$25.15 Granted217,547$40.18 Vested(147,675)$23.92 Cancelled/Forfeited(1,084)$25.39 Unvested and outstanding as of March 31, 2025 353,743$34.91 As of March 31, 2025, the total unrecognized stock compensation related to performance stock units granted was $10.8 million, which the Company expects to recognize over a weighted-average period of approximately 1.9 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 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