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MRTX

Mirati Therapeutics

$6.45

-0.16 (-2.42%)

07:31
10/04/16
10/04
07:31
10/04/16
07:31

Mirati Therapeutics appoints Chris LeMasters as Chief Business Officer

Mirati Therapeutics announced the appointment of Chris LeMasters to the newly created position of Executive Vice President and Chief Business Officer, effective September 30. Prior to joining Mirati, LeMasters served as the CEO of Promosome, a privately held biotherapeutics and biosimilars company. Previously, LeMasters held senior management positions at several biotherapeutics companies, most recently as co-founder and chief business officer of Tragara Pharmaceuticals, a clinical-stage cancer therapeutics company. LeMasters also served as co-founder and chief business officer of Cabrellis Pharmaceuticals, where he negotiated its acquisition by Pharmion for $104M, and as vice president, corporate development of Conforma Therapeutics, where he negotiated its acquisition by Biogen IDEC for $250M.

MRTX Mirati Therapeutics
$6.45

-0.16 (-2.42%)

06/05/16
PIPR
06/05/16
NO CHANGE
Target $14
PIPR
Neutral
Mirati update at ASCO raises tolerability concerns, says Piper Jaffray
Piper Jaffray analyst Steven Breazzano says Mirati Therapeutics ' top-line results for lead drug glesatinib at ASCO this weekend had a response rate of 27%, which is a slippage from the prior update of 50%. Tolerability, particularly diarrhea, appeared to have significantly affected efficacy with multiple dose reductions/discontinuations leading to suboptimal responses below the partial responses threshold, Breazzano tells investors in a research note. While the update may be disappointing to some investors, Mirati is evaluating a new formulation to improve bioavailability which appears promising, the analyst points out. He lowered his price target for the shares to $14 from $17 and keeps a Neutral rating on the shares.
06/06/16
JEFF
06/06/16
DOWNGRADE
Target $17
JEFF
Hold
Mirati Therapeutics downgraded to Hold from Buy at Jefferies
Jefferies analyst Brian Abrahams downgraded Mirati Therapeutics to Hold saying the lower objective response rate for lead drug glesatinib and gastrointestinal tolerability necessitating reformulation create increased risk to the drug gaining meaningful long-term market share. The analyst lowered his price target for Mirati to $17 from $27 following the company's update this weekend at ASCO.
06/06/16
LEER
06/06/16
DOWNGRADE
Target $20
LEER
Market Perform
Mirati Therapeutics downgraded to Market Perform from Outperform at Leerink
Leerink analyst Michael Schmidt downgraded Mirati Therapeutics to Market Perform from Outperform following updates on its lead pipeline asset, glesatinib, that he called "disappointing." The updated Phase Ib trial data in non-small cell lung cancer patients with genetic c-Met alterations included one new RECIST response in addition to two previously reported responses in now 11 patients enrolled and a 20% overall response rate, while Mirati has changed the drug's formulation due to bioavailability/tolerability issues, Schmidt noted. The analyst adds that other c-Met inhibitors have been generating promising data at ASCO and could pose potential competition. The analyst lowered his price target on Mirati shares to $20 from $37, reflecting a lower probability attributed to the potential success for glesatinib.
09/28/16
SBSH
09/28/16
NO CHANGE
Target $23
SBSH
Buy
Citi thinks JTO paper could explain recent rally in Mirati
Citi analyst Yigal Nochomovitz believes the recent move to $7 from $5 in shares of Mirati Therapeutics could be attributed to an article published online in the Journal of Thoracic Oncology on Sept. 22 titled "Emergence of pre-existing MET Y1230C mutation as a resistance mechanism to crizotinib in NSCLC with MET exon 14 skipping". Conclusions in the JTO article may suggest some opportunity for Mirati's glesatinib in the crizotinib failure market in MET Exon14del non-small cell lung cancer, despite recent disappointing data at ASCO, Nochomovitz tells investors in a research note. The analyst has a Buy rating on Mirati with a $23 price target.

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