Mirum Pharmaceuticals Grants Inducements to Achieve Nasdaq Listing Rule 5635(c)(4) Compliance – Jan 11, 2023

Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) granted inducement awards to four new employees under its 2020 Inducement Plan on January 10, 2023. Each employee was offered non-qualified stock options to purchase 23,900 shares of common stock, as well as 12,000 restricted stock units. The awards were approved as an inducement material to the new employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Each of Mirum’s stock options will have an exercise price of $19.19 per share, which was the company’s closing trading price on January 10, 2023. The options will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the vesting commencement date and the remaining shares vesting monthly thereafter. Meanwhile, the RSUs will vest over three years, with 33% of the underlying shares vesting on each anniversary of the vesting commencement date. All of these awards are subject to the terms and conditions of Mirum’s 2020 Inducement Plan and the terms and conditions of the applicable award agreement.

About Mirum Pharmaceuticals, Inc.

Mirum Pharmaceuticals, Inc. is on a mission to revolutionize the way rare liver diseases are treated. Its approved and groundbreaking medication, LIVMARLI® (maralixibat) oral solution, is now available in the U.S. to treat cholestatic pruritus in children one year and older with Alagille syndrome, and in Europe for the same indication in patients two months of age and older. This remarkable drug helps to improve the quality of life for children and families affected by this rare condition.

Mirum’s pipeline of treatments for debilitating liver diseases affecting both children and adults is rapidly advancing. LIVMARLI, an oral ileal bile acid transporter (IBAT) inhibitor is currently in clinical trials for pediatric liver diseases, with the EMBARK Phase 2b clinical trial for biliary atresia being the most notable. Furthermore, Mirum has an expanded access program open in multiple countries for patients with ALGS and PFIC. With these treatments, Mirum is making great strides in providing much-needed relief for those suffering from liver diseases.

Mirum Pharmaceuticals is currently conducting two potentially registrational studies involving their second investigational treatment, volixibat, an oral IBAT inhibitor. The VISTAS Phase 2b clinical trial is looking at the effects of volixibat on adults with primary sclerosing cholangitis, while the VANTAGE Phase 2b clinical trial is assessing its efficacy in adults with primary biliary cholangitis. The results of these trials could potentially bring volixibat to market, providing new hope for those living with these conditions.

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