Mirati Therapeutics: Poised For Takeoff

Out of Ignorance profile picture
Out of Ignorance
6.84K Followers

Summary

  • Mirati's PDUFA for adagrasib in treatment of NSCLC is weeks away.
  • In addition to this imminent FDA decision, Mirati has a strong late-stage pipeline with another potential filing in mid-2023.
  • Despite a heavy expense load, Mirati's cash hoard and hefty share price will easily keep it aloft for the near term.
  • Buyout rumors are swirling, offering a potential near-term exit ramp.

Lifting hot air balloon

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This is my first look at Mirati Therapeutics (NASDAQ:MRTX), a stock with multiple catalysts. Mirati boasts a $5.6 billion market cap. It has no FDA approved products, nor any product revenue (10-Q, p. 50

Mirati pipeline

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LUMYKRAS initial quarterly sales

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Select Company Financials

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Chart
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Seeking Alpha 11/28/2022 Mirati news feed

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This article was written by

Out of Ignorance profile picture
6.84K Followers
Writing under the pseudonym "out of ignorance", I very much regard investing as a learning process. Investing failures are tuition paid. Investing successes enter the trove of lessons learned. In my Seeking Alpha articles I share my experience from decades of investing and from ~5 years of focused research on a variety of stocks, in recent years with a primary emphasis on healthcare stocks. I greatly appreciate those who take the time to share their reactions to articles, particularly those who share relevant anecdotes and experiences.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in ANY STOCK MENTIONED over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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