Mirati_Therapeutics

Mirati Therapeutics

Mirati Therapeutics

American biotechnology company

Mirati Therapeutics, Inc. is an American targeted oncology company that focuses on the development of cancer therapeutics.[1] Bristol Myers Squibb acquired the company in January 2024.[2]

Quick Facts Company type, Traded as ...

History

Mirati Therapeutics works largely in KRAS-mutation inhibition, and developing treatments for tumors that contain it.[3] The inhibition to the mutation has shown to shrink the size of its tumors.[4] The company is based in San Diego, California.[5] The company’s name comes from the Italian word for “targeted” (Mirati). Mirati Therapeutics is traded on the Nasdaq[6] under the ticker symbol MRTX.[7] It joined the exchange in 2013.[8]

In October 2023, Bristol Myers Squibb agreed to acquire the company in an all-cash deal worth $4.8 billion, and an additional $1 billion in milestone payment.[9] The acquisition was completed in January 2024.[2]

Drug candidates

The company’s leading drug candidates are sitravatinib and adagrasib.[5] Mirati also has a preclinical candidate against the G12D mutation.[10]

Management

The company’s CEO and President is David Meek.[11]

References

  1. [1]
    Flanagan C (25 October 2020). "Hedge Fund Pick Mirati Rallies to Record After Drug Results". BloombergQuint.
  2. [2]
    "Bristol Myers Squibb concludes Mirati acquisition for $5.8bn". Pharmaceutical Technology. Verdict Media. 24 January 2024.
  3. [3]
    Ingham E (1 January 2021). "Mirati Therapeutics: Paying $220 A Share Sounds Excessive But Cracking KRAS Is A Big Deal (NASDAQ:MRTX)". Seeking Alpha.
  4. [4]
    Garage JL (October 28, 2019). "Mirati drug shrinks tumors in some cancer patients in early-stage trial". CNBC.
  5. [5]
    Tran H (31 December 2020). "Mirati Therapeutics: A Gift That Keeps On Giving (NASDAQ:MRTX)". Seeking Alpha.
  6. [6]
    Speights K (26 October 2020). "Why Mirati Therapeutics Stock Is Taking Off Today". The Motley Fool.
  7. [7]
    BNK Invest (29 March 2021). "RSI Alert: Mirati Therapeutics (MRTX) Now Oversold". NASDAQ.
  8. [8]
    Whitlock J (7 July 2021). "Mirati Therapeutics Raises $234.3M in Public Stock Offering". San Diego Business Journal.
  9. [9]
    Condie, Stuart (8 October 2023). "Bristol Myers Squibb to Acquire Mirati Therapeutics in Deal Worth Up to $5.8 Billion". The Wall Street Journal.
  10. [10]
    Martz L (26 October 2019). "How a KRAS program transformed Mirati's story". BioCentury.
  11. [11]
    Mirati (20 September 2021). "Mirati Therapeutics Appoints David Meek as Chief Executive Officer".
  • Official website
    • Historical business data for Mirati Therapeutics, Inc.:
    • SEC filings
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