Mirum Pharmaceuticals Announces Pricing of Public Offering of Common Stock
August 09 2022 - 9:33PM
Business Wire
Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM), a biopharmaceutical
company focused on the identification, acquisition, development and
commercialization of novel therapies for debilitating rare and
orphan diseases, today announced the pricing of its previously
announced underwritten public offering of 3,478,261 shares of its
common stock at a price to the public of $23.00 per share. The
gross proceeds to Mirum from the offering, before deducting
underwriting discounts and commissions and offering expenses, are
expected to be $80.0 million.
In addition, Mirum has granted the underwriters a 30-day option
to purchase up to an additional 521,739 shares of common stock at
the public offering price less underwriting discounts and
commissions. The offering is expected to close on August 12, 2022,
subject to satisfaction of customary closing conditions.
J.P. Morgan, SVB Securities and Evercore ISI are acting as joint
book-running managers for the offering. Raymond James is acting as
lead manager for the offering.
The offering is being made pursuant to a shelf registration
statement on Form S-3, including a base prospectus, that was
previously filed with the Securities and Exchange Commission (the
“SEC”) and was declared effective by the SEC on August 12, 2020. A
preliminary prospectus supplement and accompanying prospectus
relating to the offering were filed with the SEC and are available
for free on the SEC’s website located at http://www.sec.gov. A
final prospectus supplement and accompanying prospectus relating to
the offering will be filed with the SEC and will be available for
free on the SEC’s website located at http://www.sec.gov. Copies of
the final prospectus supplement and the accompanying prospectus
relating to the offering, when available, may be obtained from:
J.P. Morgan Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at
prospectus-eq_fi@jpmchase.com or by phone at (866) 803-9204; SVB
Securities LLC, Attention: Syndicate Department, 53 State Street,
40th Floor, Boston, MA 02109, by email at
syndicate@svbsecurities.com or by phone at (800) 808-7525, ext.
6105; or Evercore Group L.L.C., Attention: Equity Capital Markets,
55 East 52nd Street, New York, NY 10055, by email at
ecm.prospectus@evercore.com or by phone at (888) 474-0200.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Mirum Pharmaceuticals, Inc.
Mirum Pharmaceuticals, Inc. is a biopharmaceutical company
dedicated to transforming the treatment of rare liver 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.
Mirum’s late-stage pipeline includes two investigational
treatments for debilitating liver diseases affecting children and
adults. 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 clinical
trial for progressive familial intrahepatic cholestasis (PFIC) and
the EMBARK Phase 2b clinical trial 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 LIVMARLI for the treatment of
cholestasis 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.
Forward Looking Statements
Statements contained in this press release regarding matters
that are not historical facts are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements include statements
regarding, among other things, the regulatory approval pathway for
Mirum’s product candidates and Mirum’s expectations regarding the
completion and timing of the offering. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Words such as “will,” ”may,” “anticipate,” “expect,”
“potential” and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are
based upon Mirum’s current expectations and involve assumptions
that may never materialize or may prove to be incorrect. Actual
results could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, risks and
uncertainties associated with Mirum’s business in general, the
impact of the COVID-19 pandemic, macroeconomic and geopolitical
events, such as the ongoing military conflict between Ukraine and
Russia and related sanctions and the other risks described in
Mirum’s filings with the SEC. All forward-looking statements
contained in this press release speak only as of the date on which
they were made and are based on management’s assumptions and
estimates as of such date. Mirum undertakes no obligation to update
such statements to reflect events that occur or circumstances that
exist after the date on which they were made, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220809006130/en/
Investor Contacts: Ian Clements, Ph.D.
investors@mirumpharma.com
Sam Martin Argot Partners ir@mirumpharma.com
Media Contact: Erin Murphy media@mirumpharma.com
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