Mirati impresses with KRAS inhibitor response rates, potential biomarker

Mirati’s shares rose to an all-time high on Monday after the company dropped the latest response rate data in the closely-watched KRAS inhibitor race, but it’s still too early to tell how adagrasib (MRTX849) will stack up against Amgen’s KRAS inhibitor front-runner on critically important durability metrics. 

Shares of Mirati Therapeutics Inc. (NASDAQ:MRTX) touched a high of $211.50 on Monday before closing at $196.68, representing a 9% gain from Friday’s close and a nearly 200% gain from its low in March. By week’s end the company had proposed, priced and sold the overallotment on a follow-on offering in which it raised $926.3 million. Its shares closed the week up 20% at $217.14 for a market cap of $10.5 billion...