Welcome to our dedicated page for Mirati Therapeutics news (Ticker: MRTX), a resource for investors and traders seeking the latest updates and insights on Mirati Therapeutics stock.
Mirati Therapeutics, Inc. (NASDAQ: MRTX) is a commercial stage biotechnology company focused on pioneering breakthrough therapies to transform the lives of patients with cancer. Specializing in molecularly targeted and immuno-oncology combination therapies, Mirati is at the forefront of cancer treatment innovation. The core of Mirati's mission is to develop drug candidates that target genetic and epigenetic drivers of cancer. The company leverages a strategic approach that includes selecting patients whose tumors depend on specific genetic alterations and employing a highly accomplished leadership team in oncology precision medicine.
Mirati Therapeutics is advancing three primary drug candidates through clinical development for multiple oncology indications. Their flagship product, KRAZATI® (adagrasib), has shown promising results in treating non-small cell lung cancer (NSCLC) harboring the KRASG12C mutation. Adagrasib offers potential best-in-class efficacy, particularly for patients with central nervous system metastases. Notably, the drug has been granted conditional marketing authorization by the UK's MHRA and the European Commission, highlighting its impactful role in current cancer treatment paradigms.
Mirati's innovative pipeline also includes MRTX1719, a PRMT5 inhibitor, and MRTX1133, a selective KRASG12D inhibitor, both of which are designed to address high unmet medical needs. The company recently completed an upsized public offering, extending its cash runway to support upcoming milestones.
In recent developments, Mirati announced that Laurie Stelzer, Chief Financial Officer, will depart the company in September 2023, with Aaron Ondrey stepping in as interim CFO. This transition comes at a pivotal time as Mirati continues to advance its clinical programs and prepare for potential new product launches.
With a relentless focus on patient outcomes, Mirati's vision is to unlock the science behind a life beyond cancer. The company continues to collaborate with global healthcare regulators and partners to ensure broad access to its groundbreaking therapies.
Mirati Therapeutics (NASDAQ: MRTX) will host a virtual Investor Event on September 20, 2021 at 8:30 a.m. ET. The event will feature updates from the KRYSTAL-1 study on KRASG12C mutated non-small cell lung cancer, findings from the colorectal cancer cohort, and results from the Phase 2 MRTX-500 study. Investors and the public can access the event via Mirati.com.
Mirati Therapeutics, Inc. (NASDAQ: MRTX) announced two oral presentations of clinical data at the ESMO Congress 2021 highlighting the potential of adagrasib, a KRASG12C 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 KRASG12C-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 KRASG12C 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 KRASG12C 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 KRASG12C 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 KRASG12C 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.
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