BUZZ - Mirum shares rise as rare bone disease drug receives FDA approval

September 28 - ** Pharmaceutical company Mirum Pharmaceuticals (MIRM.O) shares rose 2.8% in pre-market trading to $92.25

** The U.S. Food and Drug Administration (FDA) on Friday evening (link) approved Mirum's drug Atebrioz for the treatment of a rare bone disorder called fibrodysplasia ossificans progressiva (FOP)

** The approval was based on a study involving 63 patients, showing that by week 24, Atebrioz significantly reduced new bone formation compared to placebo

** FOP causes muscles, tendons, and ligaments to gradually turn into bone, restricting movement and leading to severe disability

** MIRM expects to launch the drug in October

** Mirum licensed the drug from Incyte (INCY.O) earlier this year, paying a $16 million upfront payment, as well as potential milestone payments and sales royalties

** As of the close of the previous trading day, MIRM shares have gained 13.56% so far this year

(To facilitate non-native English speakers, Reuters automatically translates its reports into several other languages. As automated translations may contain errors or may not fully capture the context, Reuters does not guarantee the accuracy of the translated text and provides these translations solely for reader convenience. Reuters assumes no responsibility for any damages or losses arising from the use of automated translation features.)