Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) announced that on November 8, 2024, its Compensation Committee granted inducement awards to seven new employees under the company’s 2020 Inducement Plan. These awards consist of non-qualified stock options to purchase 56,100 shares of common stock and 28,050 restricted stock units (RSUs). The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4), which allows inducement awards as part of the hiring process.
The stock options have an exercise price of $42.00 per share, Mirum’s closing trading price on November 8, 2024. The options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the vesting commencement date, and the remaining shares vesting monthly over the subsequent three years, subject to continued service. The RSUs will vest over three years, with one-third of the underlying shares vesting on each anniversary of the vesting commencement date, also subject to continued service.
These grants are part of Mirum’s 2020 Inducement Plan and are subject to the terms outlined in the applicable award agreements.
About Mirum Pharmaceuticals, Inc.
Mirum Pharmaceuticals is a biopharmaceutical company focused on developing transformative treatments for rare diseases in both children and adults. Mirum’s approved products include:
- LIVMARLI® (maralixibat), an oral solution for treating cholestatic pruritus in patients with Alagille syndrome and progressive familial intrahepatic cholestasis (PFIC).
- CHOLBAM® (cholic acid), used to treat bile acid synthesis disorders and peroxisomal disorders.
- CHENODAL® (chenodiol), recognized by the FDA as a treatment for cerebrotendinous xanthomatosis (CTX).
Mirum’s late-stage pipeline includes investigational treatments such as Volixibat, an IBAT inhibitor for primary sclerosing cholangitis (PSC) and primary biliary cholangitis (PBC), and Chenodiol for CTX, with positive Phase 3 results reported in 2023.
