Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4 Mirati Therapeutics Garners Interest From Large Pharmas Ahead Of Much Awaited Data Next Month – Mirati Therapeutics (NASDAQ:MRTX) – Stocks to Watch
Mirati is working with an adviser, and larger drugmakers have been studying the merits of a transaction, Bloomberg reported.
But currently, no formal bids have been made. The company has attracted takeover interest in previous years without leading to a deal.
Mirati is developing a lung cancer treatment, Adagrasib, which the FDA is reviewing, with a decision expected on December 14.
Mirati’s lead drug candidate could generate more than $200 million in sales in the US and European Union by 2025, according to “conservative” estimates by Bloomberg Intelligence analysts.
The company is expected to release highly anticipated data at a Geneva conference in early December about its study on the use of Adagrasib with Merck & Co Inc’sMRK Keytruda (pembrolizumab) in patients with a certain type of advanced non-small cell lung cancer.
If the data show that the combination is safe, it could catalyze a sale of Mirati, the people said.
Price Action: MRTX shares closed 2.78% higher at $86.11 during premarket trading on the last check Wednesday.
