Mirum Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
December 08 2023 - 7:30PM
Business Wire
Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) today announced that
on December 8, 2023, the Compensation Committee of Mirum’s Board of
Directors granted inducement awards consisting of non-qualified
stock options to purchase 25,750 shares of common stock and 12,880
restricted stock units (“RSUs”) to five new employees under Mirum’s
2020 Inducement Plan. The Compensation Committee of Mirum’s Board
of Directors approved the awards as an inducement material to the
new employees’ employment in accordance with Nasdaq Listing Rule
5635(c)(4).
Each stock option has an exercise price per share equal to
$32.86 per share, Mirum’s closing trading price on December 8,
2023, and will vest over four years, with 25% of the underlying
shares vesting on the one-year anniversary of the applicable
vesting commencement date and the balance of the underlying shares
vesting monthly thereafter over 36 months, subject to the new
employees’ continued service relationship 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 commencement date, subject to the new employees’
continued service relationship with Mirum through the applicable
vesting dates. The awards are subject to the terms and conditions
of Mirum’s 2020 Inducement Plan and the terms and conditions of an
applicable award agreement covering the grant.
About Mirum Pharmaceuticals, Inc.
Mirum Pharmaceuticals, Inc. is a biopharmaceutical company
dedicated to transforming the treatment of rare diseases affecting
children and adults. Mirum has three approved medications:
LIVMARLI® (maralixibat) oral solution, Cholbam® (cholic acid)
capsules, and Chenodal® (chenodiol) tablets.
LIVMARLI, an IBAT inhibitor, is approved for the treatment of
cholestatic pruritus in patients with Alagille syndrome in the U.S.
(three months and older), in Europe (two months and older), and in
Canada. Mirum has also submitted LIVMARLI for approval in the U.S.
in cholestatic pruritus in PFIC patients three months of age and
older and in Europe in PFIC for patients two months of age and
older. Cholbam is FDA-approved for the treatment of bile acid
synthesis disorders due to single enzyme defects and adjunctive
treatment of peroxisomal disorders in patients who show signs or
symptoms or liver disease. Chenodal has received medical necessity
recognition by the FDA to treat patients with cerebrotendinous
xanthomatosis (CTX).
Mirum’s late-stage pipeline includes three investigational
treatments for debilitating liver diseases. The LIVMARLI
development program includes the Phase 2b EMBARK study for biliary
atresia. Mirum’s second investigational IBAT inhibitor is
volixibat, which is being evaluated in two potentially
registrational studies including the Phase 2b VISTAS study for
primary sclerosing cholangitis and Phase 2b VANTAGE study for
primary biliary cholangitis. Lastly, Chenodal, has been evaluated
in a Phase 3 clinical study, RESTORE, to treat patients with
CTX.
To learn more about Mirum, visit mirumpharma.com and follow
Mirum on Facebook, LinkedIn, Instagram and Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20231208048015/en/
Investor Contacts: Andrew McKibben ir@mirumpharma.com
Sam Martin Argot Partners ir@mirumpharma.com
Media Contact: Erin Murphy media@mirumpharma.com
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