MRTX - Here's Why Mirati Therapeutics Stock Is on the Move Again Today
Shares of Mirati Therapeutics (NASDAQ: MRTX), a clinical-stage biopharmaceutical company, are rising again today. This time, the stock is soaring in response to highly anticipated clinical trial data produced by Mirati, instead of by a similar program from Amgen (NASDAQ: AMGN). Investors who are relieved that Mirati's experimental cancer drug MRTX849 performed arguably better than Amgen's AMG 510 pushed the stock 15% higher as of 11:49 p.m. EDT on Tuesday.
A mutated KRAS gene was one of the first gene-specific drivers of tumor growth elucidated by researchers decades ago. Unfortunately, KRAS proteins have a relatively smooth shape that has made them impossible to inhibit, until recently.
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