Mirati gains on FDA's 'breakthrough therapy' tag for colon cancer treatment

Mirati Therapeutics

22/12/2022 13:11

** Shares of cancer drug developer Mirati Therapeutics Inc
 MRTX.O  rise 8.6% to $44.9 premarket
    ** Co late on Wednesday said U.S. FDA granted 'Breakthrough
Therapy Designation' (BTD) to its lead drug adagrasib in
combination with cetuximab in advanced colorectal cancer (CRC)
patients 
    ** The health regulators' tag based on positive data from a
small early-stage CRC patient group where co said the combo
therapy showed a 39% shrink in tumors 
    ** CRC, also known as colon cancer, begins in the large
intenstine or the rectum 
    ** Adagrasib as monotherapy or combined with cetuximab
showed promising clinical activity and demonstrated a favorable
tolerability profile with reversible adverse events  - MRTX
    ** As of Wednesday's close, MRTX stock down 71.8% YTD
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))