Mirum Pharmaceuticals announced a private $600 million convertible bond offering due 2032, leading to a 2% share decline in extended trading.
Proceeds, partly with common stock, will exchange some 4% convertible bonds due 2029 and fund general corporate purposes.
The stock closed regular trading up 0.7% at $106.88, with a 35% year‑to‑date gain and a $6.5 billion market cap.
Earlier, Mirum reported its rare liver disease drug volixibat met primary endpoint in a mid‑stage study.