Mirum Pharmaceuticals, Inc. welcomed six new employees to the team on August 10, 2023, with special inducement awards to show appreciation. The awards include non-qualified stock options to purchase 34,200 shares of common stock and 17,100 restricted stock units, all granted under Mirum’s 2020 Inducement Plan. The Compensation Committee of the Board of Directors approved these awards as an incentive for the new employees’ employment, per Nasdaq Listing Rule 5635(c)(4).
Mirum is offering new employees the chance to take part in a generous stock option plan with an exercise price per share of $26.29 per share, Mirum’s closing trading price on August 10, 2023. These options will vest over a period of four years, with 25% of the underlying shares vesting one year after the vesting commencement date, and the balance vesting on a monthly basis over the ensuing 36 months. Furthermore, RSUs for the new hires will vest over three years with 33% of the underlying shares vesting on each anniversary of the plan’s commencement date. All awards are subject to the terms and conditions of Mirum’s 2020 Inducement Plan and an awarded agreement relevant to the grant.
About Mirum Pharmaceuticals, Inc.
Mirum Pharmaceuticals, Inc. is revolutionizing the way rare liver diseases are treated by providing patients with LIVMARLI®, an oral solution approved by the U.S., European Commission, and Health Canada for the treatment of cholestatic pruritus in children and adults with Alagille syndrome. LIVMARLI® is the only approved IBAT inhibitor of its kind, offering hope to patients of all ages suffering from cholestatic pruritus.
Mirum has made significant strides in the treatment of cholestatic pruritus which is caused by Primary biliary cirrhosis (PFIC). The recently submitted drug LIVMARLI has been approved for use in the U.S. for PFIC patients three months and over, and in Europe for PFIC patients two months and over. This breakthrough medication provides a much needed solution for those who suffer from this condition.
Mirum’s late-stage pipeline is dedicated to offering cutting-edge treatments for life-altering liver diseases impacting both children and adults. For example, LIVMARLI, a revolutionary oral ileal bile acid transporter (IBAT) inhibitor, is currently being tested in clinical trials for pediatric liver diseases, including the EMBARK Phase 2b trial for patients with biliary atresia. In addition, Mirum offers an expanded access program which is now available to eligible patients with ALGS and PFIC, across multiple countries.
Mirum is studying the potential of its second investigational treatment, volixibat, an oral IBAT inhibitor, in two potentially registrational studies. These studies include the VISTAS Phase 2b clinical trial for adults with primary sclerosing cholangitis and the VANTAGE Phase 2b clinical trial for adults with primary biliary cholangitis. This could represent an exciting new development in managing and treating these conditions.