Stock Alert: Mirum Pharmaceuticals Tanks 20%

(RTTNews) - Shares of Mirum Pharmaceuticals, Inc. (MIRM) tanked 20% on Tuesday morning. The biopharmaceutical company announced pricing of public offering of 3.75 million common shares.

MIRM is currently trading at $19.00, down $5.00 or 20.83%, on the Nasdaq.

The company has priced the public offering of 3.75 million common shares at $20 per share, raising about $75.0 million after expenses and commissions.

Mirum Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. Mirum's lead product candidate, maralixibat, is an investigational oral drug in development for Alagille syndrome, progressive familial intrahepatic cholestasis, and biliary atresia.