Mirum Pharmaceuticals Strengthens Team with Inducement Awards for Rare Disease Focus

Mirum Pharmaceuticals Expands Talent Pool with Inducement Awards Amid Focus on Rare Disease Treatments

Mirum Pharmaceuticals, Inc. announces the granting of inducement awards to five new employees, a strategic move aimed at bolstering its team as the company continues to advance its treatment options for rare diseases. The awards consist of non-qualified stock options for a total of 48,400 shares and 24,200 restricted stock units (RSUs), issued under its 2020 Inducement Plan. Each stock option has an exercise price of $44.10, mirroring the company’s closing trading price on the grant date of December 10, 2024. These options will vest over a four-year period, starting with 25% vesting after one year and the remainder on a monthly basis for the following three years, contingent on the employees' ongoing service. The RSUs will vest over three years, with one-third becoming available annually.

This move is not merely a compensation strategy but a reflection of Mirum’s commitment to attracting and retaining top talent in the competitive biopharmaceutical landscape. The company is dedicated to transforming the treatment options available for rare diseases affecting both children and adults. Mirum currently markets three approved medications: LIVMARLI® (maralixibat), CHOLBAM® (cholic acid), and CHENODAL® (chenodiol). Each of these therapies addresses specific rare conditions, with LIVMARLI targeting cholestatic pruritus in patients suffering from Alagille syndrome and Progressive Familial Intrahepatic Cholestasis (PFIC). The introduction of these inducement awards aligns with Mirum’s goal of enhancing its operational capacity as it navigates the complexities of rare disease therapeutics.

In addition to its approved medications, Mirum’s late-stage pipeline includes promising investigational treatments for severe liver diseases, such as Volixibat, which is undergoing evaluation in two registrational studies. The company’s ongoing studies and the commitment to expanding its treatment portfolio demonstrate its resolve to address significant unmet needs in the field of rare diseases. By incentivizing new talent through these awards, Mirum not only strengthens its workforce but also underscores its mission to innovate and improve the lives of patients with rare conditions.

Mirum Pharmaceuticals’ strategic focus on rare disease treatment is evident in its investment in human capital, reflecting a broader industry trend where companies aim to foster a skilled workforce to propel research and development efforts. As the biopharmaceutical landscape evolves, Mirum remains dedicated to its mission, ensuring that it is well-equipped to tackle the challenges presented by rare diseases and continue providing valuable treatment options to patients in need.