BioCentury
ARTICLE | Financial News

Mirati raises $56.9 million in bumped-up follow-on

October 25, 2013 1:10 AM UTC

Mirati Therapeutics Inc. (NASDAQ:MRTX) raised $59.9 million through the sale of 3.3 million shares at $17.50 in a bumped-up follow-on underwritten by Jefferies; Leerink; and Piper Jaffray. Mirati (formerly MethylGene Inc.) first proposed to raise up to $57.5 million in the offering on Oct. 2, when its share price was $18.48. Last week, the company amended the offering and said it planned to sell 3 million shares. Mirati's mocetinostat is in Phase II testing for myelodysplastic syndromes (MDS), with a Phase III trial of the isoform-selective small molecule histone deacetylase (HDAC) inhibitor slated to start in 2H14. ...