Mirati Therapeutics
{{Short description|American biotechnology company}}
{{Infobox company
| name = Mirati Therapeutics, Inc.
| type = Subsidiary
| traded_as = {{ubl|class=nowrap|{{NASDAQ was|MRTX}}}}
| hq_location = {{nowrap|San Diego, California, U.S.}}
| founded = {{Start date and age|1995}}
| industry = Oncology
| key_people = David Meek
| num_employees = 600 (2022)
| parent = Bristol Myers Squibb
| website = {{url|mirati.com}}
}}
Mirati Therapeutics, Inc. is an American targeted oncology company that focuses on the development of cancer therapeutics.{{cite web | vauthors = Flanagan C | date = 25 October 2020 | title = Hedge Fund Pick Mirati Rallies to Record After Drug Results | work = BloombergQuint| url = https://www.bloombergquint.com/business/closely-watched-mirati-reveals-results-to-rival-amgen-drug}} Bristol Myers Squibb acquired the company in January 2024.
History
Mirati Therapeutics works largely in KRAS-mutation inhibition, and developing treatments for tumors that contain it.{{cite news | vauthors = Ingham E | date = 1 January 2021 |url= https://seekingalpha.com/article/4396933-mirati-therapeutics-paying-220-share-sounds-excessive-cracking-kras-is-big-deal|title=Mirati Therapeutics: Paying $220 A Share Sounds Excessive But Cracking KRAS Is A Big Deal (NASDAQ:MRTX) | work = Seeking Alpha }} The inhibition to the mutation has shown to shrink the size of its tumors.{{Cite web | vauthors = Garage JL |url= https://www.cnbc.com/2019/10/28/mirati-drug-shrinks-tumors-in-some-cancer-patients-in-early-stage-trial.html|title=Mirati drug shrinks tumors in some cancer patients in early-stage trial|date=October 28, 2019| work = CNBC }} The company is based in San Diego, California. The company’s name comes from the Italian word for “targeted” (Mirati). Mirati Therapeutics is traded on the Nasdaq{{Cite web|url=https://www.fool.com/investing/2020/10/26/why-mirati-therapeutics-stock-is-taking-off-today/|title=Why Mirati Therapeutics Stock Is Taking Off Today| vauthors = Speights K |date= 26 October 2020|website=The Motley Fool}} under the ticker symbol MRTX.{{cite web | author = BNK Invest | date = 29 March 2021 | work = NASDAQ| title = RSI Alert: Mirati Therapeutics (MRTX) Now Oversold | url = https://www.nasdaq.com/articles/rsi-alert%3A-mirati-therapeutics-mrtx-now-oversold-2021-03-29}} It joined the exchange in 2013.{{cite web | vauthors = Whitlock J | date = 7 July 2021 |url=https://www.sdbj.com/news/2019/jul/07/mirati-therapeutics-raises-2343m-public-stock-offe/|title=Mirati Therapeutics Raises $234.3M in Public Stock Offering|website=San Diego Business Journal}}
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.{{Cite news |last=Condie |first=Stuart |date=8 October 2023 |title=Bristol Myers Squibb to Acquire Mirati Therapeutics in Deal Worth Up to $5.8 Billion |url=https://www.wsj.com/health/pharma/bristol-myers-squibb-to-acquire-mirati-therapeutics-in-deal-worth-up-to-5-8-billion-7d83106 |work=The Wall Street Journal}} The acquisition was completed in January 2024.{{Cite news |url=https://www.pharmaceutical-technology.com/news/bristol-myers-squibb-mirati-acquisition/ |title=Bristol Myers Squibb concludes Mirati acquisition for $5.8bn |date=24 January 2024 |website=Pharmaceutical Technology |publisher=Verdict Media}}
Drug candidates
The company’s leading drug candidates are sitravatinib and adagrasib.{{cite web | vauthors = Tran H | date = 31 December 2020 |url=https://seekingalpha.com/article/4396828-mirati-therapeutics-gift-keeps-on-giving|title=Mirati Therapeutics: A Gift That Keeps On Giving (NASDAQ:MRTX) | work = Seeking Alpha }} Mirati also has a preclinical candidate against the G12D mutation.{{Cite web|url=https://www.biocentury.com/article/303697/a-look-into-the-factors-driving-mirati-s-stock-moves-as-the-market-anticipates-its-first-kras-inhibitor-data|title=How a KRAS program transformed Mirati's story| vauthors = Martz L | date = 26 October 2019 | work = BioCentury}}
Management
The company’s CEO and President is David Meek.{{cite web|vauthors = Mirati | date = 20 September 2021 | url=https://ir.mirati.com/press-releases/press-release-details/2021/Mirati-Therapeutics-Appoints-David-Meek-as-Chief-Executive-Officer/default.aspx| title = Mirati Therapeutics Appoints David Meek as Chief Executive Officer}}
References
{{Reflist}}
External links
- {{official|https://www.mirati.com/}}
{{Finance links historical
| name = Mirati Therapeutics, Inc.
| symbol = MRTX
| sec_cik = MRTX
| yahoo = MRTX
| google = MRTX
}}
Category:2013 initial public offerings
Category:2024 mergers and acquisitions
Category:Companies formerly listed on the Nasdaq
Category:Biotechnology companies of the United States