Mirati’s New CEO Clears Out Execs Ahead Of Key Filing And Readout
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The biotech could have the best-in-class KRAS inhibitor, but the departure of two senior executives has given investors the jitters as Mirati heads towards its first regulatory filing.
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The biotech also provided an update on its pursuit of approval for adagrasib, a KRAS G12C inhibitor that is likely to compete against Amgen’s first-to-market Lumakras.
While revenue beat consensus, the company slightly lowered its 2021 guidance due to pandemic impacts, but the closely watched KRAS G12C inhibitor exceeded expectations in its first full quarter.
Adagrasib may carve out a niche as the superior drug in colorectal cancer, but lung cancer – where Lumakras already is approved – is a larger market where Amgen has a big lead.