Mirati Therapeut - MRTX STOCK NEWS

Mirati Therapeutics, Inc. (NASDAQ: MRTX) announced two oral presentations of clinical data at the ESMO Congress 2021 highlighting the potential of adagrasib, a KRAS^G12C inhibitor, and sitravatinib, a receptor tyrosine kinase inhibitor, in treating lung and colorectal cancers. Presentations on September 19 and 20 will showcase how adagrasib shows clinical activity in KRAS^G12C-mutated colorectal cancer and updated survival data for sitravatinib with nivolumab in advanced lung cancer. These studies support MRTX's goal to enhance cancer treatment standards.

Mirati Therapeutics, Inc. (NASDAQ: MRTX) reported its Q2 2021 financial results, ending the quarter with $1.2 billion in cash. The company achieved Breakthrough Therapy Designation for adagrasib for treating non-small cell lung cancer with KRAS^G12C mutation. Significant R&D expenses rose to $134.6 million, with a net loss of $166.4 million ($3.23 per share). Progress includes ongoing trials and potential IND filings for new therapies. The financials reflect an increase in operational costs primarily driven by R&D activities.

Mirati Therapeutics, Inc. (NASDAQ: MRTX) announced FDA's Breakthrough Therapy Designation for adagrasib, aimed at treating non-small cell lung cancer (NSCLC) with the KRAS^G12C mutation post-therapy. This designation facilitates accelerated development due to promising preliminary results from the Phase 1/2 KRYSTAL-01 trial. With lung cancer accounting for millions of cases globally, adagrasib shows potential in addressing a significant medical need. A New Drug Application is expected in the second half of 2021, as the company targets further advancements in its oncology pipeline.

Mirati Therapeutics, Inc. (NASDAQ: MRTX) will participate in the 42nd Annual Goldman Sachs Global Healthcare Conference on June 9, 2021. CEO Charles M. Baum will engage in a fireside chat at 3:50 p.m. E.T.. The event will be webcasted and accessible via the Investors section of Mirati's website, with a replay available for 90 days post-event. Mirati is focused on developing therapies for cancer, highlighting its investigational programs including adagrasib (MRTX849) and sitravatinib. The company aims to address significant unmet needs in oncology.

Mirati Therapeutics and Zai Lab have entered a collaboration to develop and commercialize adagrasib, a KRAS^G12C inhibitor, in Greater China. Zai Lab secures rights for research, development, and commercialization, facilitating accelerated enrollment in pivotal clinical trials. Mirati receives a $65 million upfront payment with potential additional milestone payments totaling up to $273 million, plus tiered royalties. This collaboration aims to address the significant cancer prevalence in China, particularly lung cancer, enhancing patient access to innovative therapies.

QIAGEN N.V. announced a global collaboration with Mirati Therapeutics to develop a tissue-based KRAS companion diagnostic for cancers with the KRAS^G12C mutation, focusing initially on non-small cell lung cancer (NSCLC). This initiative expands QIAGEN's existing therascreen KRAS testing portfolio and leverages the company's decade-long expertise in companion diagnostics. QIAGEN holds a strong position in Precision Medicine and has ongoing collaborations with over 25 companies for companion diagnostic tests, indicating a robust pipeline for future product development.

Mirati Therapeutics (MRTX) reported its Q1 2021 financial results and corporate updates. The company is advancing its clinical pipeline, notably with adagrasib for KRASG12C mutations, anticipating a New Drug Application in H2 2021 for non-small cell lung cancer (NSCLC). Research and development expenses increased to $104.1 million, resulting in a net loss of $135.7 million for the quarter. Mirati ended Q1 with $1.3 billion in cash and equivalents, strengthening its financial position for ongoing trials.

Mirati Therapeutics (MRTX) has announced promising initial preclinical results for its novel PRMT5 inhibitor targeting MTAP-deleted cancers. This unique approach utilizes the PRMT5/MTA complex to selectively kill cancer cells with MTAP deletions, demonstrating over 100-fold selectivity compared to non-deleted cells. In mouse models, the treatment halted tumor growth and significantly reduced SDMA levels, a PRMT5 activity biomarker. The compound is progressing towards an IND filing in early 2022, aiming to address the unmet medical needs associated with various cancer types.

Mirati Therapeutics (NASDAQ: MRTX) appointed Shalini Sharp as a new independent director to its Board of Directors. Sharp brings over 25 years of experience in financial and corporate strategy within the life sciences sector, having served as CFO at Ultragenyx and Agenus. Her expertise will support Mirati's mission to advance cancer therapies. Sharp expressed enthusiasm for contributing to the company's breakthrough potential amidst its pipeline, including investigational drugs like adagrasib (MRTX849) and sitravatinib. This strategic leadership change signifies Mirati's focus on enhancing its capabilities in oncology.