Mirum Pharmaceuticals reports incentive grants under Nasdaq Rule 5635(c)(4) to Investing.com
FOSTER CITY, Calif.–( BUSINESS WIRE )–Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) announced today that on January 10, 2025, the Compensation Committee of the Mirum Board of Directors granted incentive awards consisting of non-qualified stock options to purchase 53,900 common shares and 26,950 restricted stock units (RSUs) to eight new employees under the Mirum Plan incentives for 2020. The Compensation Committee of Mirum’s Board of Directors approved the awards as incentive material for hiring new employees in accordance with Nasdaq Listing Rule 5635(c)(4).
Each stock option has an exercise price per share equal to $41.32 per share, which is Mirum’s closing price on January 10, 2025, and will vest over four years, with 25% of the underlying shares vesting per year days from the applicable acquisition of rights. commencement date and balance of underlying shares vesting monthly thereafter for 36 months, subject to the new employees’ continued employment with Mirum through the applicable vesting dates. The RSUs will vest over three years, with 33% of the underlying shares vesting on each anniversary of the applicable vesting start date, subject to the new employees’ continued employment with Mirum through the applicable vesting dates. Awards are subject to the terms and conditions of Mirum’s 2020 Incentive Plan and the terms and conditions of the applicable award agreement covering the grant.
About Mirum Pharmaceuticals (NASDAQ:), Inc.
Mirum Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to transforming the treatment of rare diseases affecting children and adults. Mirum has three approved drugs: LIVMARLI ® (maralixibat) oral solution, CHOLBAM ® (cholic acid) capsules and CHENODAL ® (chenodiol) tablets.
LIVMARLI, an IBAT inhibitor, is approved for the treatment of two rare liver diseases that affect children and adults. It is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the US (three months and more), Europe (two months and more) and other regions worldwide. It is also approved in the US for cholestatic pruritus in PFIC patients aged 12 months and older; in Europe it is approved for PFIC patients three months of age and older. Mirum is also initiating the Phase 3 EXPAND study, an opportunity to expand the label for LIVMARLI in the additional setting of cholestatic pruritus. CHOLBAM is FDA approved for the treatment of single enzyme deficiency disorders of bile acid synthesis and adjunctive treatment of peroxisomal disorders in patients showing signs or symptoms of liver disease. The FDA has recognized CHENODAL as medically necessary for the treatment of patients with cerebrotendinous xanthomatosis (CTX).
Mirum’s late-stage development program includes investigational treatments for several rare diseases. Volixibat, an IBAT inhibitor, is being evaluated in two potential registration studies including the phase 2 VISTAS study for primary sclerosing cholangitis (PSC) and the phase 2b VANTAGE study for primary biliary cholangitis. Volixibat has been granted Breakthrough Therapy Designation for the treatment of cholestatic pruritus in patients with PBC. Chenodiol has been evaluated in a phase 3 clinical study, RESTORE, for the treatment of patients with CTX, with positive top-line results reported in 2023. Mirum has submitted a new drug application to the FDA for approval of chenodiol for the treatment of CTX in the US. , Mirum plans a Phase 2 study evaluating MRM-3379, a PDE4D inhibitor for the treatment of Fragile X syndrome, a rare genetic neurocognitive disorder.
To learn more about Mirum, visit mirumpharma.com and follow Mirum on Facebook (NASDAQ:), LinkedInInstagram and Twitter (X).
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Contact for investors:
Andrew McKibben
ir@mirumpharma.com
Media contact:
Erin Murphy
media@mirumpharma.com
Source: Mirum Pharmaceuticals, Inc.
