secwatch.observer — SEC 8-K summary
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Issuer:     Mirum Pharmaceuticals, Inc. (MIRM)
CIK:        0001759425
Form:       8-K
Filed at:   2023-07-17T23:59:59+00:00
Accession:  0001193125-23-187712
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mirum to acquire Travere's bile acid portfolio for up to $445M; raises $210M PIPE to fund
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- Acquires Cholbam and Chenodal for $210M upfront plus up to $235M in sales-based milestones tiered from $125M to $500M in annual net sales.
- Raises ~$210M via PIPE at $26.25/share (July 14 close) from Frazier Life Sciences, Avidity, BVF, Longitude, Sofinnova, and others.
- Deal expected to close Q3 2023, subject to HSR clearance and customary conditions; Travere to provide transitional services.
- Mirum to leverage rare liver disease expertise for Cholbam/Chenodal; also sponsors genetic testing program.
- Travere divests to focus on FILSPARI launch, sparsentan in FSGS, and pegtibatinase; proceeds extend cash runway.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1759425/000119312523187712/0001193125-23-187712-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1759425/000119312523187712/d462385d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-187712

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer