Dilution profile // every instrument, one screen, from SEC filings

Mirum Pharmaceuticals, Inc. (MIRM)

CIK 1759425 · all EDGAR filings →

Overall dilution risk
HIGHworst of 3 computed sub-ratings (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGH$1136M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
registered capacity, not remaining: amounts already taken down are not subtracted yet
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
MEDIUM+39% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOWoperating cash flow positive
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-11-062026-07-31

Latest: 64.9M shares as of Jul 31, 2026 (10-Q).

⊙
EVIDENCE — filed/published fact
SourceSEC XBRL, cover-page share count
Fielddei:EntityCommonStockSharesOutstanding
As of2026-07-31
HowThe newest cover-page count as filed, whatever its age. The float checker applies a 200-day freshness rule and sets this beside the balance-sheet count.
Open the source document →

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Pre Funded Warrantnot tagged$0.0001——

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 5, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Senior Subordinated Convertible Note$769.0M—not tagged——
Convertible Senior Notes Due 2032$690.0M—$138.94—~5.0M sh
Senior Notes Due 2032$690.0M$672.4Mnot tagged0%—
Senior Notes Due 2029$79.0M$77.7Mnot tagged4%—

If every note above converted at its tagged price: ~5.0M new shares on 64.9M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed Aug 5, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding64.9MJul 31, 2026
+ Convertible Senior Notes Due 2032 (if fully converted)5.0MMay 31, 2026
Fully diluted estimate69.9M+7.6% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $1135.7Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRFeb 25, 2026$935.7M registeredfiling →
S-3ASRAug 12, 2025$200.0M registeredfiling →

Last 12 months: 3 executed · 1 registered.

EXECUTEDMay 18, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
REGISTEREDFeb 25, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR →
EXECUTEDDec 19, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDDec 8, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →
REGISTEREDAug 12, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR →
EXECUTEDNov 2, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
REGISTEREDOct 13, 2023Automatic shelf registration — effective immediately (large filers)S-3ASR →
EXECUTEDSep 5, 2023Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDJul 17, 2023Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDApr 17, 2023Unregistered share sale disclosed (8-K item 3.02)8-K →
REGISTEREDSep 9, 2022Automatic shelf registration — effective immediately (large filers)S-3ASR →
EXECUTEDAug 10, 2022Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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