|Bid||93.46 x 800|
|Ask||93.50 x 800|
|Day's Range||91.18 - 93.77|
|52 Week Range||28.50 - 111.99|
|Beta (3Y Monthly)||2.77|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 5, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||108.77|
Amgen's (AMGN) novel investigational KRAS inhibitor, AMG 510, for solid tumor shows anti-tumor activity in a larger group of NSCLC patients.
(Bloomberg) -- Amgen Inc. shares could hit a record if an experimental new cancer medicine is able to show improvements in a handful of patients later this week.A medicine known as AMG 510 has already shown early promise as data from June indicated the treatment can lead to responses at low doses. AMG 510 targets a cancer mutation known as KRAS G12C, which is thought to be present in roughly 13% of non-small cell lung and as many as 5% of colon tumors.Getting a drug to work on KRAS mutations has been the “the white whale of drug discovery,” Amgen’s head of global development has said.Updated results for AMG 510 are expected to be presented at the International Association for the Study of Lung Cancer or IASLC’s World Conference on Lung Cancer in Barcelona on Sunday. Options data for Amgen implies the stock may move 3.6% either way between now and Sept. 13. A more than 3% move to the upside for the biotech company would drive shares to a record high.According to one of the more bullish analysts covering Amgen - Jefferies’ Michael Yee - Medicines targeting KRAS have the potential to be a $2 billion or more class of drugs. Yee expects the data to show three more months of follow-up for the initial 5 of 10 lung cancer patients who responded to the therapy.Investors are looking for an overall response rate of 50% or better for the higher dose of the drug, Yee said. That’s after the lung cancer data showed that all three lung cancer patients getting the highest dose had responded in the last update. He expects the next look at the data may be in ten to 15 patients, although the company hasn’t guided as to how many patients will be in those results.Seventy-five percent or better would be a bull case, but even if the response rate were below 50%, Amgen still has a drug, Yee said. However, that could open the door for a key competitor, smallcap drug developer Mirati Therapeutics Inc.The next 12 months for Amgen will be “catalyst packed” Yee said. With less hedge funds and mutual funds invested in Amgen than other large-cap biotech peers, Amgen has room for those investors to come into the name, he told clients in an August video.Amgen bears have eyed the company’s early data and speculated Mirati’s competing medicine could produce better results. The small-cap’s shares rose 8 fold from the start of 2017 through 2018. Yet, there are signs the mania may be fading. A scant month after the stock reached a record in July, the company got its first sell rating and shares are now 25% below their peak.“While MRTX849’s clinical profile might ultimately emerge as differentiated relative to Amgen’s AMG 510,” if Amgen achieves a response rate of 50% or better in lung cancer at the higher dose, Mirati’s medicine may face “too high of a bar,” JPMorgan analyst Anupam Rama wrote in an August note.Options data implies Mirati may move 10% between Wednesday and Sept. 20.Meanwhile another heavyweight drugmaker, Johnson & Johnson, has kicked off its’ own study of a KRAS-inhibitor in colon and lung cancers, according to clinicaltrials.gov.\--With assistance from Gregory Calderone and Michelle Fay Cortez.To contact the reporter on this story: Cristin Flanagan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Steven Fromm, Morwenna ConiamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
President & CEO of Mirati Therapeutics Inc (30-Year Financial, Insider Trades) Charles M Baum (insider trades) sold 51,810 shares of MRTX on 08/22/2019 at an average price of $86.22 a share. Continue reading...
Today we will run through one way of estimating the intrinsic value of Mirati Therapeutics, Inc. (NASDAQ:MRTX) by...
SAN DIEGO, Aug. 15, 2019 /PRNewswire/ -- Mirati Therapeutics, Inc. (MRTX), a clinical-stage targeted oncology company, announced the appointment of Jenny Gizzi as Vice President, Human Resources, reporting directly to Charles M. Baum, M.D., Ph.D., President and Chief Executive Officer. In her role, Ms. Gizzi will be responsible for all aspects of the Company's human resources operations and strategy, including overseeing the planning, development, implementation and administration of Mirati's human resources programs. This critical perspective will help us maintain our dynamic culture as we further advance our programs and continue our growth into a premier targeted oncology company," said Dr. Charles Baum.
SAN DIEGO , Aug. 5, 2019 /PRNewswire/ -- Mirati Therapeutics, Inc. (NASDAQ: MRTX), a clinical-stage targeted oncology company, today reported financial results for the second quarter ended June 30, 2019 ...
Mirati (MRTX) inks a clinical collaboration with Novartis to evaluate the combination of the former's MRTX849 and the latter's SHP2 inhibitor, TNO155, in patients with advanced solid tumors.
A collaboration with Swiss pharma giant Novartis could validate an experimental cancer treatment from biotech company Mirati Therapeutics, an analyst said Wednesday as Mirati stock rose.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on July 9) Apellis Pharmaceuticals Inc (NASDAQ: APLS ) Athenex ...
SAN DIEGO, July 9, 2019 /PRNewswire/ -- Mirati Therapeutics, Inc. (MRTX), a clinical-stage targeted oncology company, today announced a clinical collaboration agreement with Novartis to evaluate the combination of MRTX849, Mirati's investigational KRAS G12C inhibitor and TNO155, Novartis' investigational SHP2 inhibitor, in patients with advanced solid tumors that harbor KRAS G12C mutations. SHP2 is an important mediator of cellular signaling through the RAS/MAP kinase pathway and is frequently overactive in various types of cancer.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on July 1) Apellis Pharmaceuticals Inc (NASDAQ: APLS ) Arena Pharmaceuticals, ...
SAN DIEGO, July 1, 2019 /PRNewswire/ -- Mirati Therapeutics, Inc. (MRTX), a clinical-stage targeted oncology company, today announced the appointment of Dr. Julie Cherrington, Ph.D. to its Board of Directors, effective June 27, 2019. Dr. Cherrington has extensive experience in oncology drug development and has played a key role in the development of several FDA-approved products. "Julie brings deep expertise in targeted oncology to the Board of Directors.
SAN DIEGO, June 27, 2019 /PRNewswire/ -- Mirati Therapeutics, Inc. (MRTX) today announced the closing of its previously announced underwritten public offering of 2,415,000 shares of its common stock at a public offering price of $97.00 per share. Cowen, Credit Suisse and Barclays acted as joint book-running managers in the offering. The shares of common stock described above were offered by Mirati pursuant to a shelf registration statement filed by Mirati with the Securities and Exchange Commission ("SEC") that became automatically effective upon filing.
SAN DIEGO, June 25, 2019 /PRNewswire/ -- Mirati Therapeutics, Inc. (MRTX) today announced the pricing of an underwritten public offering of 2,100,000 shares of its common stock at a price to the public of $97.00 per share. The aggregate gross proceeds from this offering are expected to be approximately $203.7 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Mirati. Mirati has also granted the underwriters a 30-day option to purchase up to an additional 315,000 shares of common stock in connection with the public offering.
SAN DIEGO, June 24, 2019 /PRNewswire/ -- Mirati Therapeutics, Inc. (MRTX) today announced that it has commenced an underwritten public offering of shares of its common stock. 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 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions.
Investors need to pay close attention to Mirati Therapeutics (MRTX) stock based on the movements in the options market lately.
Does Mirati Therapeutics, Inc. (NASDAQ:MRTX) represent a good buying opportunity at the moment? Let’s quickly check the hedge fund interest towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on satellite photos and other research activities, so it is no wonder why they tend […]
In the fast-paced Lightning Round of Mad Money Wednesday night, Jim Cramer was bullish on a number stocks including Mirati Therapeutics Inc. In the daily bar chart of MRTX, below, we can see that prices have moved up sharply from their October low around $30. Prices went "vertical" early this month as MRTX gapped higher on heavy volume.