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 announce its third-quarter financial results and corporate updates on November 8, 2022, at 4:30 p.m. ET. A conference call will provide insights into the company's performance and updates. Investors can access the live webcast via Mirati's website or join by phone. Mirati is a clinical-stage biotechnology firm focused on advancing therapies for cancer patients, particularly in areas of high unmet medical need.
Mirati Therapeutics (MRTX) and Aadi Bioscience (AADI) announced a clinical collaboration on Oct. 12, 2022, to evaluate the combination of adagrasib, a KRASG12C inhibitor, and nab-sirolimus, an mTOR inhibitor, in patients with KRASG12C mutant non-small cell lung cancer (NSCLC). The Phase 1/2 trial aims to determine the optimal dosing, safety, and efficacy of the drug combination. Preclinical data showed enhanced anti-tumor efficacy when both agents were used together. The collaboration exemplifies their commitment to advancing targeted therapies for challenging cancers.
Mirati Therapeutics, Inc. (NASDAQ: MRTX) announced the grant of equity awards to 22 new employees on October 3, 2022, as part of its Inducement Plan. These awards, crucial for employee acceptance, include options to purchase 70,610 shares at $68.36 each, and 44,119 restricted stock units (RSUs). The options will vest over four years, while the RSUs will vest gradually over four years as well. This move aligns with Nasdaq Listing Rule 5635(c)(4) and emphasizes Mirati's commitment to attracting talent as it advances its oncology-focused drug development pipeline.
Mirati Therapeutics (NASDAQ: MRTX) announced positive results from the Phase 1/2 KRYSTAL-1 study of adagrasib, a KRASG12C inhibitor, in advanced colorectal cancer (CRC). In 44 patients receiving adagrasib monotherapy, the objective response rate (ORR) was 19%, while the disease control rate (DCR) reached 86%. For 32 patients treated with the combination of adagrasib and cetuximab, the ORR was 46% and DCR was 100%. Both treatment strategies were well-tolerated, with mostly mild treatment-related adverse events.
Mirati Therapeutics, Inc. (NASDAQ: MRTX) announced the granting of equity awards to 25 new employees as of September 1, 2022. These awards include options for 99,972 shares and 64,054 restricted stock units (RSUs). The options have an exercise price of $82.04 per share, aligning with the stock’s closing price on the grant date. The vesting schedule specifies that one-fourth of the options vest after one year, with the remainder vesting monthly over four years, dependent on continued employment.
Mirati Therapeutics, Inc. (NASDAQ: MRTX) will participate in two healthcare conferences on September 14, 2022. The first event is the Morgan Stanley Healthcare Conference at 8:35 a.m. ET, featuring CFO Laurie Stelzer and CCO Ben Hickey in a fireside chat. The second is the Bank of America Global Healthcare Conference at 2:10 p.m. BST, where CEO David Meek will represent the company. Interested parties can access a live webcast or replay on Mirati.com. The company is focused on delivering therapies for cancer treatment, particularly unmet needs in lung cancer.
Mirati Therapeutics (NASDAQ: MRTX) announced on August 4, 2022, the grant of equity awards to 56 new employees to enhance employment acceptance. A total of 177,751 stock options and 113,172 restricted stock units (RSUs) were granted, with options priced at $65.79, the stock's closing price on the grant date. Vesting for options occurs over four years, while RSUs vest 25% annually.
This initiative aims to incentivize employees and align their interests with shareholders as Mirati focuses on advancing its oncology pipeline.
Mirati Therapeutics (NASDAQ: MRTX) reported its second-quarter 2022 financial results, highlighting a significant net loss of $176.4 million or $3.18 per share. The company anticipates launching adagrasib for NSCLC patients with KRASG12C mutations in the U.S. and has submitted a Marketing Authorization Application in Europe. R&D expenses were $128.3 million, down from $134.6 million in Q2 2021, while G&A expenses rose to $54.2 million from $29.6 million. Mirati maintains a strong cash position of approximately $1.2 billion, supporting ongoing clinical programs.
Mirati Therapeutics (NASDAQ: MRTX) will announce its financial results for Q2 2022 and corporate updates on August 3, 2022, at 4:30 p.m. ET. A conference call will provide insights into the company's performance and future direction. Investors can tune in via webcast or through specified phone lines. Mirati is focused on developing innovative therapies for cancer, particularly targeting genetic drivers of the disease.
Mirati Therapeutics (MRTX) announced the first clinical data showing CNS activity of the KRASG12C inhibitor, adagrasib, in non-small cell lung cancer (NSCLC) patients with active untreated CNS metastases. In a Phase 1b KRYSTAL-1 study, approximately 32% of evaluable patients showed an intracranial (IC) response, with a disease control rate of 84%. The data was presented at the ASCO Annual Meeting on June 6, 2022. Mirati also planned a virtual investor event to discuss these findings and broader lung cancer strategies.
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