ARTICLE | Finance

California raisin'

How Mirati raised more than $200M since migrating from Canada

September 21, 2015 7:00 AM UTC

Mirati Therapeutics Inc. (NASDAQ:MRTX) has raised more money since moving to California and listing on NASDAQ about two years ago than the cancer company did in its prior 18 years of existence in Canada. On the heels of last week's follow-on, Mirati expects its broadened investor base has supplied enough cash to last into 2H17.

Mirati (then MethylGene Inc.) was formed in Montreal in 1995 and raised about $128 million in public and private rounds up until 2013. That year, multiple factors including a Phase II letdown in vulvovaginal candidiasis prompted the company to move to San Diego, change its name, focus exclusively on cancer and seek a NASDAQ listing...