Mirati Therapeutics: Is This $5 Busted IPO A Buy, Sell, Or Hold? [Seeking Alpha]
Mirati Therapeutics, Inc. (MRTX)
Last mirati therapeutics, inc. earnings: 2/25 08:00 am
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US:NASDAQ Investor Relations:
ir.mirati.com/node/5806
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Source: Seeking Alpha
Summary It's amazing how a little tomorrow can make up for a whole lot of yesterday. —John Guare In today's deep dive we look at a busted IPO a couple of my Seeking Alpha followers have inquired about lately. Company Overview: With a market capitalization of just $120 million, Mirati Therapeutics ( MRTX ) and its shareholders have weathered a couple rough years. After peaking above $45 in 2015, the share price cratered in 2016- this was due to a press release relaying that excessive side effects were observed in an early stage study involving lead candidate glesatinib in patients with non-small cell lung cancer (NSCLC). To address the problem management announced that a new formulation of the drug would be utilized in a midstage study. Since June 1st shares have risen over 50% and look to break six month highs in the near future, a clear sign that the stock is coming into focus again with upcoming data readouts. The San Diego-based firm was foun
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