FOSTER CITY, Calif.–(BUSINESS WIRE)–Mirum Prescription drugs, Inc. (Nasdaq: MIRM) as we speak introduced that on July 10, 2024, the Compensation Committee of Mirum’s Board of Administrators granted inducement awards consisting of non-qualified inventory choices to buy 40,800 shares of frequent inventory and 20,400 restricted inventory items (RSUs) to seven new staff underneath Mirum’s 2020 Inducement Plan. The Compensation Committee of Mirum’s Board of Administrators permitted the awards as an inducement materials to the brand new staff’ employment in accordance with Nasdaq Itemizing Rule 5635(c)(4).
Every inventory possibility has an train price per share equal to $35.92 per share, Mirum’s closing buying and selling price on July 10, 2024, and can vest over 4 years, with 25% of the underlying shares vesting on the one-year anniversary of the relevant vesting graduation date and the stability of the underlying shares vesting month-to-month thereafter over 36 months, topic to the brand new staff’ continued service relationship with Mirum by the relevant vesting dates. The RSUs will vest over three years, with 33% of the underlying shares vesting on every anniversary of the relevant vesting graduation date, topic to the brand new staff’ continued service relationship with Mirum by the relevant vesting dates. The awards are topic to the phrases and circumstances of Mirum’s 2020 Inducement Plan and the phrases and circumstances of an relevant award settlement overlaying the grant.
About Mirum Prescription drugs (NASDAQ:), Inc.
Mirum Prescription drugs, Inc. is a biopharmaceutical firm devoted to reworking the remedy of uncommon illnesses affecting youngsters and adults. Mirum has three permitted medicines: LIVMARLI ® (maralixibat) oral answer, CHOLBAM ® (cholic acid) capsules, and CHENODAL ® (chenodiol) tablets.
LIVMARLI, an IBAT inhibitor, is permitted for the remedy of two uncommon liver illnesses affecting youngsters and adults. It’s permitted for the remedy of cholestatic pruritus in sufferers with Alagille syndrome within the U.S. (three months and older), in Europe (two months and older), and in different areas globally. It’s also permitted for cholestatic pruritus in PFIC sufferers 5 years of age and older within the U.S. and in Europe for PFIC in sufferers three months and older. CHOLBAM is FDA-approved for the remedy of bile acid synthesis issues resulting from single enzyme deficiencies and adjunctive remedy of peroxisomal issues in sufferers who present indicators or signs or liver illness. Mirum has filed a brand new drug utility with the FDA for chenodiol for the remedy of sufferers with cerebrotendinous xanthomatosis (CTX).
Mirum’s late-stage pipeline consists of two investigational therapies for debilitating liver illnesses. Volixibat, an IBAT inhibitor, is being evaluated in two probably registrational research together with the Part 2b VISTAS examine for main sclerosing cholangitis and Part 2b VANTAGE examine for main biliary cholangitis. Lastly, chenodiol, has been evaluated in a Part 3 medical examine, RESTORE, to deal with sufferers with CTX, with optimistic topline outcomes reported in 2023. Mirum has filed a brand new drug utility with the FDA for the approval chenodiol to deal with CTX within the U.S.
To be taught extra about Mirum, go to mirumpharma.com and observe Mirum on Fb (NASDAQ:), LinkedIn, Instagram and X.
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Investor Contact:
Andrew McKibben
ir@mirumpharma.com
Media Contact:
Erin Murphy
media@mirumpharma.com
Supply: Mirum Prescription drugs, Inc.