Mirati gauging sale interest of Big Pharmas — report

Mirati Therapeutics, maker of the experimental cancer drug adagrasib, is piquing the interest of Big Pharmas, according to a report from Bloomberg.

On Tuesday, the biotech’s stock $MRTX rose by almost 16%, jumping from just under $75 to over $86. After Wednesday’s opening bell, Mirati’s stock continued to climb nearly $3 apiece. But that still leaves it down 43% from the beginning of this year, a reflection of the biotech market as a whole.

According to the report, Mirati is working with an advisor, but no formal bids have been placed by Big Pharma companies yet, and more data from a combination study with Keytruda could be key to the progression of talks. Mirati did not respond to a request for comment as of publication time.

The biggest of names in pharma could be interested, Jefferies analysts noted, including those without KRAS…
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