Mirati Therapeutics Garners Interest From Large Pharmas Ahead Of Much Awaited Data Next Month

Mirati Therapeutics Inc MRTX is reportedly amid fresh takeover interest from large pharmaceutical companies ahead of updates on its drug pipeline.
For some time, the cancer-focused company has been weighing strategic options, including a potential sale.
Related: Mirati's Adagrasib Shows Promising Efficacy In KRAS Mutated Colorectal Cancer.
Mirati is working with an adviser, and larger drugmakers have been studying the merits of a transaction, Bloomberg reported.
But currently, no formal bids have been made. The company has attracted takeover interest in previous years without leading to a deal.
Mirati is developing a lung cancer treatment, Adagrasib, which the FDA is reviewing, with a decision expected on December 14.
Mirati's lead drug candidate could generate more than $200 million in sales in the US and European Union by 2025, according to "conservative" estimates by Bloomberg Intelligence analysts.
The company is expected to release highly anticipated data at a Geneva conference in early December about its study on the use of Adagrasib with Merck & Co Inc's MRK Keytruda (pembrolizumab) in patients with a certain type of advanced non-small cell lung cancer.
If the data show that the combination is safe, it could catalyze a sale of Mirati, the people said.
Price Action: MRTX shares closed 2.78% higher at $86.11 during premarket trading on the last check Wednesday.