On 1/6/2020 Mirum Pharmaceuticals filed the paperwork for a $63 million offering of common stock. The Forrest City, CA based company is focused on developing treatments for rare liver diseases. Mirum currently trades on NASDAQ under the symbol, “MIRM.”
Mirum currently has two clinical stage treatments in development. Both candidates have mechanisms of action that have potential utility across a wide range of orphan cholestatic liver diseases. The company is initially developing maralixibat for the treatment of pediatric patients with progressive familial intrahepatic cholestasis, or PFIC, and Alagille syndrome, or ALGS. Enrollment in Ph III trials began in Q2 of 2019 and plans to initiate a rolling submission of a New Drug Application, or NDA, for the treatment of pruritus associated with ALGS in the third quarter of 2020. in November 2019,
Mirum was granted Rare Pediatric Disease Designation for maralixibat for ALGS. As a result, they may qualify for the receipt of a priority review voucher if their NDA is approved before October 1, 2022.
The company intends to use the proceeds of the offering to develop its two drug candidates.
As of this writing, Mirum has a market cap of $490 Million and is down 6%.