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BBIO - Is Mirati Therapeutics a Good Stock to Buy Now?
BridgeBio Pharma Inc.
Biotech stocks are known for rapid price movements, and on Oct. 28, Mirati Therapeutics(NASDAQ: MRTX) will probably boost the industry's reputation for volatility. That's because the company will finally read out results from a proof-of-concept study with a potential new cancer therapy that could be worth billions in annual revenue.
The experimental drug in question, MRTX849, binds to mutated KRAS proteins. Unfortunately for Mirati, it's not the only company aiming for KRAS, a target protein that has been known for decades to drive tumor growth.