Company: MIRM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001759425-25-000032
Chunk: 532

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 532
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 supply manufacturing or other services. These contracts generally provide for termination on notice, and therefore are cancellable contracts.

We enter into commercial inventory supply agreements that obligate us to firm commitments for the purchase of minimum order quantities, which may be material to our financial statements.

Cash Flows

The following table provides a summary of the net cash flow activity for the periods indicated (in thousands):

 Three Months Ended March 31, 20252024Net cash (used in) provided by operating activities$(1,961)$15,212 Net cash used in investing activities(16,134)(13)Net cash provided by financing activities6,359 1,205 Effect of exchange rate on cash, cash equivalents and restricted cash1,055 113 Net (decrease) increase in cash, cash equivalents and restricted cash$(10,681)$16,517 

Net Cash (Used in) Provided by Operating Activities

Net cash used in operating activities was $2.0 million for the three months ended March 31, 2025, reflecting our net loss of $14.7 million offset by adjustments of $24.0 million. Adjustments consisted primarily of stock-based compensation, depreciation and amortization of our intangible assets and fixed assets, and charges associated with excess and obsolete inventory and firm commitment losses. Additionally, cash used in operating activities reflected changes in net operating assets of $11.3 million, primarily related to an increase in accounts receivable and payments made for accrued compensation and related benefits during the three months ended March 31, 2025. The net use of cash was offset by an increase in accrued sales deductions and royalties due to the growth from our product sales in the three months ended March 31, 2025, an increase in accrued interest in relation to the Notes and an increase in accrued milestone payments for the achievement of a maralixibat development milestone during the period.

Net cash provided by operating activities was $15.2 million for the three months ended March 31, 2024, reflecting our net loss of $25.3 million partially offset by adjustments of $16.5 million. Adjustments consisted primarily of stock-based compensation, and depreciation and amortization of our intangible assets and fixed assets. Additionally, cash provided by operating activities reflected changes in net operating assets of $23.9 million, consisting primarily of a decrease in accounts receivables due to timing of payments received related to sales of our approved medicines, an increase in accounts payable, accrued expenses and