Notable News Spotlight: Mirati Therapeutics (NASDAQ:MRTX)

Mirati Therapeutics (NASDAQ:MRTX)changed 1.92% to recent value of $104.74. The stock transacted 664598 shares during last trading day however it has an average volume of 666.58K shares. It spotted trading -21.00% off 52-week high price. On the other end, the stock has been noted 114.54% away from the low price over the last 52-weeks.

On Jan. 8, 2020, Mirati Therapeutics (NASDAQ:MRTX) reported that it intends to offer and sell, subject to market and other conditions, $250.0 million of shares of its common stock in an underwritten public offering. All of the shares are being offered by Mirati. In addition, Mirati expects to grant the underwriters of the offering a 30-day option to purchase up to an additional $37.5 million of shares of its common stock at the public offering price, less the underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

About Mirati Therapeutics

Mirati Therapeutics is a San Diego-based clinical-stage biotechnology company dedicated to advancing novel therapeutics that extend the lives of patients by directly addressing the genetic and immunological drivers of cancer. Mirati’s lead drug candidate, sitravatinib, is designed to selectively target a spectrum of tyrosine kinases implicated in both tumor growth and the suppression of immune responses to tumors. Sitravatinib has demonstrated durable responses in lung cancer patients whose cancer has progressed despite treatment with checkpoint inhibitors – an area of significant unmet medical need. Sitravatinib is being evaluated in multiple clinical trials to treat patients who are refractory to prior immune checkpoint inhibitor therapy, including a potentially registration-enabling Phase 3 trial of sitravatinib in combination with a checkpoint inhibitor in non-small cell lung cancer (NSCLC) that is currently enrolling patients.

Its earnings per share (EPS) expected to touch remained -14.40% for this year.

The company has 40.48M of outstanding shares and 38.91M shares were floated in the market. According to the most recent quarter its current ratio was 13.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -10.15% from the mean of 20 days, -0.25% from mean of 50 days SMA and performed 16.99% from mean of 200 days price. Company’s performance for the week was -18.72%, 2.07% for month and YTD performance remained -18.72%.

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