Company: MIRM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001759425-25-000032
Chunk: 366

Company: Mirum Pharmaceuticals, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 366
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 March 31,Change 20252024Product-specific costs:Livmarli$5,242 $6,445 $(1,203)Volixibat12,106 7,029 5,077 MRM-3379733 — 733 Non product-specific costs:Stock-based compensation5,229 3,861 1,368 Personnel11,385 9,153 2,232 License fees (milestone payments)5,000 — 5,000 Other6,349 5,734 615 Total research and development expenses$46,044 $32,222 $13,822 

Research and development expenses were $46.0 million for the three months ended March 31, 2025, an increase of $13.8 million compared to the three months ended March 31, 2024. The increase was primarily due to:

•for volixibat programs, an increase of $5.1 million, primarily due to increased expenses associated with conduct of the PSC and PBC trials;

•for personnel related expenses, an increase of $2.2 million related primarily to increased employee headcount 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.

Selling, General and Administrative Expenses

Selling, general and administrative expenses were $57.7 million for the three months ended March 31, 2025, an increase of $12.1 million compared to the three months ended March 31, 2024. The increase was primarily due to increases of $7.7 million in personnel and other compensation-related expenses, including an increase of $2.7 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, $2.6 million in advertising, promotion and medical affairs expenses associated with commercial activities primarily driven by the Bile Acid Medicines and PFIC, and $1.6 million in other general administrative expenses.

Interest Income

Interest income was $3.0 million for the three months ended March 31, 2025, a decrease of $0.6 million compared to the three months ended March 31, 2024 largely due to lower yields on investments. 

Interest Expense

Interest expense was $3.6 million for the three months ended March 31,