SEC Comment Letter 0000000000-24-009930 to BIOMARIN PHARMACEUTICAL INC (BMRN)
BIOMARIN PHARMACEUTICAL INC
Date: Sept. 2, 2024 · CIK: 0001048477 · Accession: 0000000000-24-009930
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 000-26727
Letter
August 31, 2024 Brian Mueller Chief Financial Officer BioMarin Pharmaceutical Inc. 770 Lindaro Street San Rafael, California 94901 Re:BioMarin Pharmaceutical Inc. Form 10-K for the fiscal year ended December 31, 2023 Filed February 26, 2024 Form 10-Q for the quarterly period ended June 30, 2024 Filed August 5, 2024 File No. 000-26727 Dear Brian Mueller: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-Q for quarterly period ended June 30, 2024 Notes to Condensed Consolidated Financial Statements (10) Restructuring , page 16 1.Please provide a detailed description of your strategic portfolio assessment of research and development programs, particularly identification of terminated and advanced programs as well as the criteria for research and development programs that will meet "the highest bar for advancement." In this regard, you have now limited your breakdown of research and development expense to three broad categories in lieu of a detailed project- by-project expense breakdown as last provided in your Form 10-Q for the nine months ended September 30, 2023. Explain your basis for removing this information as well as corresponding discussion in the Business section, given the apparent impact of the strategic portfolio assessment on your future research and development activities. Revise your disclosures accordingly.
August 31, 2024 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Frank Wyman at 202-551-3660 or Daniel Gordon at 202-551-3486 with any questions. Sincerely, Division of Corporation Finance Office of Life Sciences cc:Eric Davis
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August 31, 2024
Brian Mueller
Chief Financial Officer
BioMarin Pharmaceutical Inc.
770 Lindaro Street
San Rafael, California 94901
Re:BioMarin Pharmaceutical Inc.
Form 10-K for the fiscal year ended December 31, 2023
Filed February 26, 2024
Form 10-Q for the quarterly period ended June 30, 2024
Filed August 5, 2024
File No. 000-26727
Dear Brian Mueller:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comment.
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments.
Form 10-Q for quarterly period ended June 30, 2024
Notes to Condensed Consolidated Financial Statements
(10) Restructuring , page 16
1.Please provide a detailed description of your strategic portfolio assessment of research
and development programs, particularly identification of terminated and advanced
programs as well as the criteria for research and development programs that will meet "the
highest bar for advancement." In this regard, you have now limited your breakdown of
research and development expense to three broad categories in lieu of a detailed project-
by-project expense breakdown as last provided in your Form 10-Q for the nine months
ended September 30, 2023. Explain your basis for removing this information as well as
corresponding discussion in the Business section, given the apparent impact of the
strategic portfolio assessment on your future research and development activities. Revise
your disclosures accordingly.
August 31, 2024
Page 2
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
Please contact Frank Wyman at 202-551-3660 or Daniel Gordon at 202-551-3486 with
any questions.
Sincerely,
Division of Corporation Finance
Office of Life Sciences
cc:Eric Davis