Mirati Therapeutics rises on FDA nod for tumor therapy trial

Mirati Therapeutics

20/01/2023 19:23

** Cancer drug developer Mirati Therapeutics Inc's shares
 MRTX.O  rise 5.2% to $45.2
    ** MRTX, late on Thursday said, U.S. FDA has cleared its
Investigational New Drug (IND) application, for its inhibitor
MRTX1133
    ** The clearance enables MRTX to proceed with initiating a
clinical trial for MRTX1133, in treating a type of
KRAS-signaling tumor patients 
    ** KRAS mutations lead to multiplication of cells and cancer
growth and are present in nearly 25% of tumors, making them one
of the most common gene mutations linked to cancer 
    ** Co expects to launch mid-stage trial for the therapy in
early 2023, with plans for multiple expansion cohorts in
pancreatic, colorectal, lung and other KRAS-positive tumors 
    ** MRTX stock lost ~69% in 2022
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))