Mirum Pharmaceuticals Announces Incentive Grants Under Nasdaq Listing Rule 5635(c)(4)
FOSTER CITY, Calif.–(BUSINESS WIRE)–Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) today announced that on April 8, 2022, the Compensation Committee of the Board of Directors of Mirum awarded incentive awards consisting of stock options not qualified to purchase 25,500 common shares and 12,650 restricted stock units (“RSUs”) from five new employees under Mirum’s 2020 incentive plan. The Compensation Committee of Mirum’s Board of Directors has approved the awards as new hire incentive material pursuant to Nasdaq listing rule 5635(c)(4).
Each stock option has an exercise price per share equal to $27.46 per share, Mirum’s closing price on April 8, 2022, and will vest over four years, 25% of the underlying shares vesting on the first anniversary of the applicable vesting. start date and the balance of the underlying shares will vest monthly thereafter over 36 months, subject to the new employees’ continued service relationship with Mirum until the applicable vesting dates. RSUs will vest over three years, with 33% of the underlying shares vesting on each anniversary of the applicable vesting start date, subject to the new employees’ continued service relationship with Mirum through the vesting dates. applicable. Awards are subject to the terms and conditions of Mirum’s 2020 Incentive 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. The drug approved by Mirum is LIVMARLI® (maralixibat) oral solution which is approved in the United States for the treatment of cholestatic pruritus in patients with Alagille syndrome one year of age and older. Please review the Warnings and Precautions available in the Prescribing Information or, for more information, visit LIVMARLI.com.
Mirum’s late-stage pipeline includes two experimental treatments for debilitating liver disease affecting children and adults. Maralixibat (LIVMARLI), an oral ileal bile acid transporter (IBAT) inhibitor, is currently being evaluated in clinical trials for pediatric liver disease and includes the Phase 3 MARS study in progressive familial intrahepatic cholestasis (PFIC) and the study BOARD Phase 2b study for patients with biliary atresia. Additionally, Mirum has an open expanded access program in 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 potential registration studies, including the VIEWS Phase 2b clinical trial in adults with primary sclerosing cholangitis, the OHANA Phase 2b clinical trial for pregnant women with intrahepatic cholestasis of pregnancy, and the ADVANTAGE Phase 2b clinical trial in adults with primary biliary cholangitis.