Mirum Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 10 2022 - 8:05PM
Business Wire
Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) today announced that
on May 10, 2022, the Compensation Committee of Mirum’s Board of
Directors granted inducement awards consisting of non-qualified
stock options to purchase 178,000 shares of common stock and 52,677
restricted stock units (“RSUs”) to 18 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
$22.55 per share, Mirum’s closing trading price on May 10, 2022,
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. Mirum’s
approved medication is LIVMARLI® (maralixibat) oral solution which
is approved in the U.S. for the treatment of cholestatic pruritus
in patients with Alagille syndrome one year of age and older.
Please view the warnings and precautions available in the
Prescribing information or, for more information, visit
LIVMARLI.com.
Mirum’s late-stage pipeline includes two investigational
treatments for debilitating liver diseases affecting children and
adults. Maralixibat (LIVMARLI), an oral ileal bile acid transporter
(IBAT) inhibitor, is currently being evaluated in clinical trials
for pediatric liver diseases and includes the MARCH Phase 3 study
for progressive familial intrahepatic cholestasis (PFIC) and the
EMBARK Phase 2b study for patients with biliary atresia. In
addition, Mirum has an expanded access program open across multiple
countries for eligible patients with ALGS and PFIC.
Mirum has submitted a Marketing Authorization Application to the
European Medicines Agency for maralixibat for the treatment of
cholestatic liver disease in patients with Alagille syndrome.
Mirum’s second investigational treatment, volixibat, an oral
IBAT inhibitor, is being evaluated in three potentially
registrational studies including the VISTAS Phase 2b clinical trial
for adults with primary sclerosing cholangitis, the OHANA Phase 2b
clinical trial for pregnant women with intrahepatic cholestasis of
pregnancy, and the VANTAGE Phase 2b clinical trial for adults with
primary biliary cholangitis.
Learn more about Mirum by visiting www.mirumpharma.com. Follow
Mirum on Twitter, Facebook, LinkedIn and Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20220510006503/en/
Investor Contacts: Ian Clements, Ph.D.
ir@mirumpharma.com
Sam Martin Argot Partners ir@mirumpharma.com
Media Contact: Erin Murphy media@mirumpharma.com
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