Mirum Pharmaceuticals Inc
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
MIRM$94.42+1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net loss | $(163,415) | $(135,665) | $(83,988) |
| Reconciliation of net loss to net cash used in operating activities: | |||
| Stock-based compensation | 35,023 | 27,007 | 23,087 |
| Depreciation and amortization | 10,829 | 3,238 | 595 |
| Non-cash lease expense | 620 | 443 | 380 |
| Net accretion of discounts on investments | (1,725) | (1,703) | (137) |
| Non-cash interest expense related to the revenue interest liability | 5,060 | 15,979 | 17,590 |
| Amortization of debt discount and offering costs | 1,117 | — | — |
| Change in fair value of derivative liability | — | (906) | 732 |
| Change in fair value of contingent liabilities associated with acquisition | 671 | (899) | — |
| Inventory reserves and firm purchase commitment losses | 9,257 | — | — |
| Loss from termination of revenue interest purchase agreement | 49,076 | — | — |
| Costs recognized on sale of acquired inventory | 3,419 | — | — |
| Unrealized foreign exchange loss | 1,764 | — | — |
| Deferred income taxes associated with an acquisition | — | (6,580) | — |
| Gain on sale of priority review voucher, net | — | — | (108,000) |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (43,974) | (20,727) | — |
| Prepaid and other current assets | (3,600) | (3,676) | (4,009) |
| Inventory | (4,393) | (3,448) | (495) |
| Other assets | (511) | (127) | (519) |
| Accounts payable, accrued expenses and other liabilities | 30,778 | 7,639 | 22,655 |
| Operating lease liabilities | (940) | (711) | (649) |
| Net cash used in operating activities | (70,944) | (120,136) | (132,758) |
| Investing activities | |||
| Purchase of investments | (27,329) | (132,322) | (198,029) |
| Proceeds from maturities of investments | 153,000 | 140,300 | 155,600 |
| Proceeds from paydown of investments | — | — | 2,000 |
| Purchase of property and equipment | (109) | (278) | (24) |
| Cash paid for acquisition | (212,762) | — | — |
| Payments made for additions to intangible assets | (20,000) | — | (19,000) |
| Proceeds from sale of priority review voucher, net | — | — | 108,000 |
| Net cash (used in) provided by investing activities | (107,200) | 7,700 | 48,547 |
| Financing activities | |||
| Proceeds from issuance of common stock in private placement, net of issuance costs | 202,204 | — | — |
| Proceeds from issuance of common stock in at-the-market offerings, net of issuance costs | 14,480 | 21,289 | — |
| Proceeds from issuance of common stock in public offerings, net of issuance costs | — | 86,078 | 6,914 |
| Proceeds from the issuance of convertible notes, net | 305,304 | — | — |
| Proceeds from issuance of common stock pursuant to equity plans | 10,470 | 7,272 | 2,098 |
| Payments of deferred offering costs | (281) | — | — |
| Payments on revenue interest liability | (195,577) | (5,552) | (121) |
| Proceeds from revenue interest liability, net of issuance costs | — | — | 64,575 |
| Net cash provided by financing activities | 336,600 | 109,087 | 73,466 |
| Effect of exchange rate on cash, cash equivalents and restricted cash equivalents | (133) | 12 | (1) |
| Net increase (decrease) in cash, cash equivalents and restricted cash equivalents | 158,323 | (3,337) | (10,746) |
| Cash, cash equivalents and restricted cash equivalents at beginning of period | 128,003 | 131,340 | 142,086 |
| Cash, cash equivalents and restricted cash equivalents at end of period | $286,326 | $128,003 | $131,340 |
| Supplemental disclosure of cash flow information: | |||
| Operating cash flows paid for operating lease | $1,079 | $911 | $864 |
| Cash paid for income taxes | $125 | $— | $— |
| Cash paid for interest | $6,817 | $— | $— |
| Non-cash operating, investing and financing activities: | |||
| Inventory purchases included in accrued liabilities | $6,076 | $163 | $1,018 |
| Right-of-use assets obtained in exchange for lease liability | $473 | $285 | $— |
| Stock-based compensation capitalized into inventory | $822 | $441 | $71 |
| Issuance of common stock in connection with settlement of Contingent Milestone and Indemnification Holdback liabilities | $5,188 | $— | $— |
| Issuance of common stock in exchange for acquired intangible assets | $— | $15,585 | $— |
| Accrued milestone payments classified as intangible assets, net | $— | $15,000 | $— |
| Deferred tax liability incurred from acquired intangible | $— | $6,580 | $— |
| Contingent milestone liability for common stock issuance for acquired intangible assets | $— | $4,600 | $— |
| Indemnification Holdback liability for common stock issuance in exchange for acquired intangible assets | $— | $831 | $— |
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