Mirati Therapeutics falls as EU regulator declines to back cancer drug

Mirati Therapeutics

21/07/2023 13:28

** Shares of cancer drug developer Mirati Therapeutics Inc
 MRTX.O  fall 6.7% to $31.55 premarket 
    ** The European Medicines Agency's panel declined to back
authorization for co's drug to treat a type of lung cancer as it
did not fulfill the requirements for conditional support
    ** Co did not give details on the requirements it did not
fulfill
     ** MRTX says it disagrees with the EMA's opinion and
intends to request a formal re-examination
    ** Says it intends to continue supplying the oral drug,
adagrasib, under early access in EU member states in alignment
with applicable laws and regulations - MRTX
    ** Adagrasib, approved and sold under brand Krazati in the
U.S., is designed to target a mutated form of a gene known as
KRAS that occurs in about 13% of non-small cell lung cancers,
the most common form of the disease   
    ** Up to last close, MRTX shares down ~25.4% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))