Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) is pleased to announce that, to reward ten new employees for joining the team, the Board of Directors’ Compensation Committee granted inducements in the form of non-qualified stock options and restricted stock units. On July 10, 2023, 44,850 stock options and 22,430 RSUs were granted in accordance with Nasdaq Listing Rule 5635(c)(4).
Mirum is excited to offer newly hired employees the opportunity to participate in its 2020 Inducement Plan which includes stock options and RSUs. These options offer employees the potential to reap the rewards of their labor as they vest over four years for the stock options, or three years for the RSUs.
With each option, employees receive an exercise price of $26.51 per share of Mirum’s closing trading price on July 10, 2023 and vesting plays out in 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and 33% of their underlying shares vesting at each anniversary of their vesting commencement date.
About Mirum Pharmaceuticals, Inc.
Mirum Pharmaceuticals, Inc. is working to revolutionize the way rare liver diseases are treated. Recently approved in both the U.S. and Europe, their leading medicine, LIVMARLI® (maralixibat) oral solution, is making waves in the medical community. This groundbreaking medication specifically targets cholestatic pruritus in individuals diagnosed with Alagille syndrome, as young as two months old in Europe, and three months old in the U.S. This remarkable drug promises a brighter future for those who suffer from rare liver diseases.
Mirum has submitted the drug LIVMARLI for approval in both the United States and Europe. In the US, it is being approved for the treatment of cholestatic pruritus in patients three months and older diagnosed with PFIC, while in Europe, it is being approved for the same purpose in patients two months and older.
Mirum’s late-stage pipeline includes two groundbreaking treatment options for debilitating liver diseases that affect children and adults. Their oral ileal bile acid transporter (IBAT) inhibitor LIVMARLI is being studied in the EMBARK Phase 2b clinical trial for biliary atresia, and they also have an expanded access program available for eligible patients with ALGS and PFIC. These revolutionary treatments offer hope to those suffering from liver disorders and provide a much-needed alternative to traditional treatments.
Mirum Pharmaceuticals is currently studying the efficacy of their second investigational treatment, volixibat, an oral inhibitor of ileal bile acid transporter (IBAT). This drug is being scrutinized for its safety and effectiveness in two clinical trials – the Phase 2b VISTAS trial for adults suffering from primary sclerosing cholangitis and the Phase 2b VANTAGE trial for those with primary biliary cholangitis. These trials could lead to volixibat’s registration with regulatory authorities.