Piper Jaffray analyst Tyler Van Buren maintained an Overweight rating and $125 price target on Mirati Therapeutics (MRTX) following the company's presentation of new data for the combination of sitra + nivo in chemo and PD-1 refractory bladder cancer patients and in oral cavity cancer patients at SITC. In a note to investors titled "The Sitra + Nivo Combo Regimen Appears Active In Bladder And Oral Cancers," Van Buren said that the combo is "potentially promising in both of these patients populations," but he wants to see more data to start including the opportunities in his model. The analyst also noted that sitra was being evaluated in combination with Beigene's (BGNE) tislelizumab/PD1 in multiple solid tumor types and he expects "to see additional Phase I/II data over the next year."

TD Cowen analyst Yaron Werber raised the firm's price target on BeiGene (BGNE) to $236 from $235 and keeps a Buy rating on the shares. The firm updated its model to reflect lower collaborative revenue given termination of Novartis (NVS) agreement for tisle in Sep 2023.

BeiGene announced that the European Commission has approved tislelizumab as a treatment for non-small cell lung cancer across three indications, including first- and second-line use. "Tislelizumab is foundational for BeiGene's solid tumor portfolio and has demonstrated its potential across multiple tumor types, including NSCLC, in which there remains a significant unmet need at all stages of the disease," said Mark Lanasa, M.D., Ph.D., Chief Medical Officer, Solid Tumors at BeiGene. "Today's EC authorization marks the second in the region for tislelizumab, with both NSCLC and locally advanced or metastatic esophageal squamous cell carcinoma now approved in the European Union. Second-line use in ESCC was also approved just weeks ago by the U.S. Food and Drug Administration, putting us well on our way to fulfilling our commitment to bring this innovative therapy to many more patients around the world."