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MRTX - Mirati Therapeutics down 6% as Kerrisdale shorts
Mirati Therapeutics Inc.
Kerrisdale Capital reports that it is short Mirati Therapeutics (MRTX-5.9%) based on, what it considers, dim prospects for lead drug MRTX-849, citing early-stage data showing a low response rate and "incredibly short-lived" duration of response in lung cancer (NSCLC) patients. Kerrisdale believes an FDA nod for monotherapy use is "extremely unlikely" even in a second-line setting.
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