Brian (for Mani Foroohar)'s questions to Mirum Pharmaceuticals Inc (MIRM) leadership • Q3 2024
Question
Brian, on behalf of Mani Foroohar, asked for specifics on the MRM-3379 deal terms, the expected impact of the program on operating expenses, and for color on the drivers of the PFIC sales acceleration, such as new patient starts versus competitor switches.
Answer
CFO Eric Bjerkholt disclosed a $7.5 million upfront payment and a $7.5 million Phase III start milestone for MRM-3379, with typical royalties for an early-stage deal. He estimated the program could account for mid-teens percentage of R&D spend. President and COO Peter Radovich attributed the strong PFIC performance to faster-than-expected reimbursement and a mix of demand from clinical trial rollovers, de novo IBAT-naive patients, and some competitor switches.