Mirum Pharmaceuticals, Inc. develops and commercializes medicines for rare diseases, with recurring updates centered on product sales, clinical readouts, regulatory interactions and employee equity grants. The company’s commercial portfolio includes LIVMARLI® (maralixibat) for Alagille syndrome and progressive familial intrahepatic cholestasis, CHOLBAM® (cholic acid) for bile-acid synthesis disorders, and CTEXLI® (chenodiol) for cerebrotendinous xanthomatosis.
News about MIRM also covers clinical-stage programs including volixibat, an IBAT inhibitor for primary sclerosing cholangitis and primary biliary cholangitis; brelovitug, a monoclonal antibody designed to bind hepatitis B surface antigen for chronic hepatitis delta virus; and MRM-3379, a PDE4D inhibitor for Fragile X syndrome. Company updates report financial results, pipeline licensing activity and inducement awards under Nasdaq Listing Rule 5635(c)(4).
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Mirum Pharmaceuticals has priced an offering of $275 million in 4.00% convertible senior notes due 2029, increased from an initial offering of $200 million. The settlement is scheduled for April 17, 2023. The notes, redeemable after May 5, 2026, will accrue interest at 4.00% annually, payable semi-annually. Mirum estimates net proceeds of approximately $265.5 million, intended for repurchasing revenue interests and general corporate purposes. The initial conversion rate is 31.5075 shares per $1,000 of notes, equating to an initial conversion price of around $31.74 per share, a 35% premium over Mirum's last share price of $23.51 on April 12, 2023.