MRTX - Mirati Therapeutics: Paying $220 A Share Sounds Excessive But Cracking KRAS Is A Big Deal

• Mirati shares have been on a tear throughout most of 2020 but a recent dip to $219.5 at the time of writing makes for an attractive investment opportunity.
• The company is pioneering a new type of KRAS G12C mutation targeting small molecule which, alongside Amgen's Sotorasib, is a long way ahead of the competition.
• 2021 promises to rich in data catalysts and will see the company submit its NDA for Adagrasib, which has shown a 45% ORR in unresectable or metastatic NSCLC and CRC.
• There are pros and cons to an investment - the risk of adverse efficacy or safety data is still significant, albeit reducing, and checkpoint inhibitors like Keytruda and Opdivo still rule the roost in NSCLC.
• Even so my price target would be $300 based on a potential £2-3bn peak sales opportunity - which could be just the beginning for Mirati, and KRAS.

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