SCHEDULE: Mirum Pharma: Frazier Life Sciences Amends 13D Filing
Schedule 13D Amendment
Frazier Life Sciences entities and associated individuals have filed an Amendment No. 6 to their Schedule 13D for Mirum Pharmaceuticals, Inc., clarifying beneficial ownership attribution for certain funds.
Summary
- Frazier Life Sciences entities, including Frazier Life Sciences IX, L.P., Frazier Life Sciences X, L.P., Frazier Life Sciences Public Fund, L.P., Frazier Life Sciences Public Overage Fund, L.P., and Frazier Life Sciences XI, L.P., have filed an Amendment No. 6 to their Schedule 13D regarding their holdings in Mirum Pharmaceuticals, Inc.
- The filing clarifies and corrects previous attribution of beneficial ownership for certain funds (Frazier Life Sciences Public Fund, L.P., Frazier Life Sciences Public Overage Fund, L.P., and Frazier Life Sciences XI, L.P.) to individual members of their respective investment committees.
- For these specific funds, beneficial ownership is no longer attributed to individual committee members because the managing entities' investment committees act by majority vote.
- Frazier Life Sciences IX, L.P. directly holds 3,566,912 shares, representing 7.1% of Mirum Pharmaceuticals' Common Stock.
- Frazier Life Sciences X, L.P. directly holds 168,308 shares, representing 0.3% of Mirum Pharmaceuticals' Common Stock.
- Frazier Life Sciences Public Fund, L.P. directly holds 1,574,374 shares, representing 3.1% of Mirum Pharmaceuticals' Common Stock.
- Frazier Life Sciences Public Overage Fund, L.P. directly holds 940,573 shares, representing 1.9% of Mirum Pharmaceuticals' Common Stock.
- Frazier Life Sciences XI, L.P. directly holds 544,954 shares, representing 1.1% of Mirum Pharmaceuticals' Common Stock.
- James N. Topper is reported to beneficially own 3,735,220 shares, representing 7.4% of the class, which includes shares held by Frazier Life Sciences IX, L.P. and Frazier Life Sciences X, L.P., over which he shares voting and investment power.
- Patrick J. Heron is reported to beneficially own 3,735,220 shares, representing 7.6% of the class, which includes 5,703 directly held shares, 76,779 shares issuable upon option exercise, and shares held by Frazier Life Sciences IX, L.P. and Frazier Life Sciences X, L.P., over which he shares voting and investment power.
- The percentages of class are calculated based on 50,237,647 shares of Common Stock outstanding as of August 1, 2025, as reported in Mirum Pharmaceuticals' Quarterly Report on Form 10-Q filed on August 6, 2025.
Sentiment
Score: 5
Explanation: The filing is a technical amendment to clarify beneficial ownership attribution, not indicating a change in investment strategy or company performance. It corrects previous reporting, which is a neutral to slightly positive aspect for data accuracy.
Future Outlook
NA
Industry Context
This filing is a routine disclosure of beneficial ownership changes and clarifications by an institutional investor group in a publicly traded biotechnology company. It does not provide broader industry trends or competitive analysis.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Beneficial Ownership Attribution Clarification | The filing corrects previous attribution of beneficial ownership to individual members of investment committees for Frazier Life Sciences Public Fund, L.P., Frazier Life Sciences Public Overage Fund, L.P., and Frazier Life Sciences XI, L.P. It clarifies that no individual members are attributed beneficial ownership for these funds because their respective managing entities' investment committees act by majority vote. This ensures more accurate reporting of control within the investment structures. | 2025-08-18 | Enhances transparency and accuracy in the reporting of beneficial ownership, aligning the disclosures with the actual control mechanisms within the Frazier Life Sciences investment entities. This is a technical correction rather than a substantive change in control. |
Stakeholder Impact
- Shareholders: Provides clearer and more accurate information regarding the beneficial ownership structure of a significant institutional investor group, enhancing transparency.
Key Dates
| Date | Description |
|---|---|
| 2019-07-26 | Original Schedule 13D filing date. |
| 2020-04-29 | Date of first amendment to Schedule 13D. |
| 2020-12-18 | Date of second amendment to Schedule 13D. |
| 2022-08-16 | Date of third amendment to Schedule 13D. |
| 2023-04-14 | Date of fourth amendment to Schedule 13D. |
| 2023-09-05 | Date of fifth amendment to Schedule 13D. |
| 2025-08-01 | Date of Common Stock outstanding count (50,237,647 shares) as per Issuer's 10-Q. |
| 2025-08-06 | Date of Issuer's Quarterly Report on Form 10-Q filing with the SEC. |
| 2025-08-18 | Date of event which requires filing of this Amendment No. 6. |
| 2025-08-20 | Signature date for most reporting persons on this Amendment No. 6. |
| 2025-03-06 | Signature date for Patrick J. Heron on this Amendment No. 6 (note: this date is earlier than the event date, which is unusual for a signature date on a current filing, but it is as stated in the document). |
Keywords
Mirum Pharmaceuticals, Frazier Life Sciences, Schedule 13D, Beneficial Ownership, SEC Filing, Common Stock, Institutional Investor, Biotechnology, Pharmaceuticals
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