Street View: Mirati's lung cancer drug to face tough competition from Amgen

Mirati Therapeutics

13/12/2022 17:47

** U.S. Food and Drug Administration approved Mirati
Therapeutics Inc's  MRTX.O  lung cancer drug, adagrasib, late on
Monday
    COMPETITION WITH AMGEN'S DRUG
    ** BMO Capital Market ("market perform", PT: $59) says
Amgen's lung cancer drug, Lumakras, will garner more share in
the setting due to the undifferentiated safety labeling
    ** Riley Securities ("Neutral", PT:$52) anticipates a slow
launch for MRTX's drug that will build throughout 2023, as it
will be competing only for new patients 
    ** Cowen and Co (outperform) says MRTX's drug showed
efficacy to treat patients whose lung cancer has spread to
brain, expanding its reach in the 30-40% of patients for whom
Amgen  AMGN.O 's drug, Lumakras, is not effective
    ** Stifel ("buy") raises question if MRTX will be required
to conduct additional post-marketing study to further refine the
dosage, as U.S. FDA's post-marketing requirement for MRTX looks
similar to Amgen
 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))