$MIRM
Mirum Pharmaceuticals, Inc.

2020 Q1 Form 10-K Financial Statement

#000156459020010471 Filed on March 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 2018 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.690M $11.75M
YoY Change 255.3% 1891.53%
% of Gross Profit
Research & Development $17.34M $42.99M
YoY Change 256.57% 1745.11%
% of Gross Profit
Depreciation & Amortization $73.00K $139.0K
YoY Change
% of Gross Profit
Operating Expenses $22.03M $54.74M
YoY Change 256.27% 1774.76%
Operating Profit -$22.03M -$54.74M
YoY Change 256.27%
Interest Expense $750.0K $2.210M
YoY Change 226.09% 3583.33%
% of Operating Profit
Other Income/Expense, Net -$23.00K -$21.00K
YoY Change 360.0%
Pretax Income -$21.31M -$52.53M
YoY Change 257.66% 202.78%
Income Tax $4.000K $21.00K
% Of Pretax Income
Net Earnings -$21.31M -$52.55M
YoY Change 257.73% 202.9%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$860.0K -$2.283M
COMMON SHARES
Basic Shares Outstanding 25.39M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $159.5M $116.7M
YoY Change 222.28% 124.42%
Cash & Equivalents $72.04M $12.00M $51.96M
Short-Term Investments $87.50M $104.7M
Other Short-Term Assets $2.900M $2.700M
YoY Change 866.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $162.4M $119.4M $51.98M
YoY Change 226.1% 129.62%
LONG-TERM ASSETS
Property, Plant & Equipment $1.397M $3.700M $0.00
YoY Change 7.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.500M $23.30M
YoY Change
Other Assets $160.0K $300.0K
YoY Change -60.0%
Total Long-Term Assets $10.40M $27.30M $0.00
YoY Change 511.94%
TOTAL ASSETS
Total Short-Term Assets $162.4M $119.4M $51.98M
Total Long-Term Assets $10.40M $27.30M $0.00
Total Assets $172.8M $146.7M $51.98M
YoY Change 235.54% 182.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.265M $3.400M $269.0K
YoY Change 36.04% 1033.33%
Accrued Expenses $9.772M $9.700M $2.180M
YoY Change 138.34% 340.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.55M $13.10M $2.449M
YoY Change 108.43% 445.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $34.00K $3.300M
YoY Change -97.17%
Total Long-Term Liabilities $34.00K $3.300M
YoY Change -97.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.55M $13.10M $2.449M
Total Long-Term Liabilities $34.00K $3.300M
Total Liabilities $16.69M $16.40M $2.449M
YoY Change 116.69% 583.33%
SHAREHOLDERS EQUITY
Retained Earnings -$91.21M -$17.35M
YoY Change
Common Stock $247.4M $35.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $156.1M $130.3M -$17.31M
YoY Change
Total Liabilities & Shareholders Equity $172.8M $146.7M $51.98M
YoY Change 235.54% 182.12%

Cashflow Statement

Concept 2020 Q1 2019 2018 Q4
OPERATING ACTIVITIES
Net Income -$21.31M -$52.55M
YoY Change 257.73% 202.9%
Depreciation, Depletion And Amortization $73.00K $139.0K
YoY Change
Cash From Operating Activities -$18.35M -$39.36M
YoY Change 656.43% 10538.38%
INVESTING ACTIVITIES
Capital Expenditures $98.00K $281.0K
YoY Change 122.73% -103.75%
Acquisitions
YoY Change
Other Investing Activities $33.86M -$127.5M
YoY Change
Cash From Investing Activities $33.76M -$127.8M
YoY Change -76829.55% 1603.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $44.66M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 44.66M 127.2M
YoY Change 112.53%
NET CHANGE
Cash From Operating Activities -18.35M -39.36M
Cash From Investing Activities 33.76M -127.8M
Cash From Financing Activities 44.66M 127.2M
Net Change In Cash 60.07M -39.99M
YoY Change -2531.78% -176.95%
FREE CASH FLOW
Cash From Operating Activities -$18.35M -$39.36M
Capital Expenditures $98.00K $281.0K
Free Cash Flow -$18.45M -$39.64M
YoY Change 646.92% -656.0%

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CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
127982000
CY2019 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2019Q4 mirm Accrued Costs Current
AccruedCostsCurrent
0
CY2018Q4 mirm Accrued Costs Current
AccruedCostsCurrent
1310000
CY2019Q4 mirm Accrued Clinical Trials Current
AccruedClinicalTrialsCurrent
4795000
CY2018Q4 mirm Accrued Clinical Trials Current
AccruedClinicalTrialsCurrent
785000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
777000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
70000
CY2019Q4 mirm Accrued Contract Manufacturing And Non Clinical Costs Current
AccruedContractManufacturingAndNonClinicalCostsCurrent
1540000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2216000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15000
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2018Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
4979255
CY2018Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9347681
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6070000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34000
CY2019Q1 us-gaap Area Of Land
AreaOfLand
5600
CY2019Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P4Y
CY2019 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The lease term is approximately four years with an option to extend the term for one five-year term, which at the time was not reasonably assured of exercise and therefore, not included in the lease term.
CY2019 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2019Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2019Q1 mirm Tenant Improvement Allowance
TenantImprovementAllowance
400000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3648000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y1M20D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
674000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
865000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
890000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
918000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
928000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
230000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4505000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
857000
CY2018Q4 mirm Number Of Lease Agreements Executed
NumberOfLeaseAgreementsExecuted
0
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-52654000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-17348000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
122000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
21000
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0162
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0703
CY2019 mirm Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
0.0078
mirm Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
0.0002
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.0732
us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.0194
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2595
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2995
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0003
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
9486000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
602000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
4378000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
346000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
364000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
148000
CY2019Q4 mirm Deferred Tax Assets Intangible Assets
DeferredTaxAssetsIntangibleAssets
3570000
CY2018Q4 mirm Deferred Tax Assets Intangible Assets
DeferredTaxAssetsIntangibleAssets
4085000
CY2019Q4 mirm Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
737000
CY2018Q4 mirm Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
0
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
989000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
0
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
0
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
14000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
19524000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
5195000
CY2019Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
468000
CY2018Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
0
CY2019Q4 mirm Deferred Tax Liabilities Fixed Assets
DeferredTaxLiabilitiesFixedAssets
228000
CY2018Q4 mirm Deferred Tax Liabilities Fixed Assets
DeferredTaxLiabilitiesFixedAssets
0
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
696000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
0
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
18828000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5195000
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
13600000
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
5200000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
116000
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
20000
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1394000
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
116000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1490000
CY2019Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1500000
CY2018Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
100000

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