Mirati Therapeutics, Inc.
mirati.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 6, 2023. Its latest SEC filing is a SC 13G from Feb 14, 2024.
10-Q for Q3 FY2023, filed Nov 6, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Licenses cancer-drug rights to pharmaceutical partners and develops and sells targeted cancer medicines, including KRAZATI for adults with a previously treated form of advanced non-small cell lung cancer.
10-K for FY2022, filed Feb 28, 2023Mirati Therapeutics, Inc. is a commercial-stage oncology company developing novel therapeutics to address the genetic and immunological…View ↗
We have multiple KRAS inhibitor programs. KRAZATI is our first commercial product. KRAZATI was approved by the FDA in December 2022 and we…View ↗
In May 2021, we entered into a Collaboration and License Agreement with Zai (the “Zai Agreement”). Under the Zai Agreement, we granted Zai…View ↗
Our license and collaboration revenues have been generated primarily through collaborative research, development, manufacture and…View ↗
How Did They Make Money?
Specialty pharmacies and distributors pay for KRAZATI when it is delivered. Drug partners pay upfront for licenses, when milestones are met, for supply services, and royalties on future product sales.
10-K for FY2022, filed Feb 28, 2023
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10-K for FY2022, filed Feb 28, 2023
FY2022 revenue by product or service ↗
$12.4M
-
10-K for FY2022, filed Mar 1, 2023
$12.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product revenue, net
Sold outright
|
5.7% |
Product revenue, net, FY2022
$713K Sources
|
Sold outright |
|
License and collaboration revenues
Licensed
10-K for FY2022, filed Feb 28, 2023 |
94% |
License and collaboration revenues, FY2022
$11.7M Sources
|
Licensed |
Who Were Their Customers?
Specialty pharmacies and specialty distributors buy KRAZATI from Mirati and resell it to healthcare providers and patients. Pharmaceutical partners license drug rights and collaborate on research, development, manufacturing, and commercialization.
10-K for FY2022, filed Feb 28, 2023
Did Revenues Turn Into Profits?
No. It lost $740.9M in FY2022.
10-K for FY2022, filed Mar 1, 2023
−$759.6MView ↗
10-K for FY2022, filed Mar 1, 2023
−$740.9MView ↗
10-K for FY2022, filed Mar 1, 2023
−$575.4MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q3 FY2023, filed Nov 6, 2023
−$161.9MView ↗
- ▼ −7% (Loss)
- vs −$173.6M in Q3 FY2022
10-Q for Q3 FY2023, filed Nov 6, 2023
Open tableView ↗
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Jan 23, 2024
Bristol Myers Squibb completed its acquisition of Mirati
Bristol Myers Squibb acquired control, and Mirati requested removal of its shares from Nasdaq.
Sources
8-K, filed Jan 23, 2024
On January 23, 2024, the Company (i) notified the Nasdaq Stock Market LLC (“Nasdaq”) of the consummation of the Merger and its intent to…View ↗
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Nov 13, 2023
European medicines committee backed KRAZATI's conditional marketing application
Sources
8-K, filed Nov 13, 2023
On November 10, 2023, Mirati Therapeutics, Inc. (the “Company”) issued a press release announcing that following a re-examination…View ↗
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Aug 23, 2023
Chief Financial Officer Laurie Stelzer resigned
Aaron Ondrey became interim CFO effective September 8, 2023.
Sources
8-K, filed Aug 23, 2023
On August 17, 2023, Laurie Stelzer notified Mirati Therapeutics, Inc. (the “Company”) of her intention to resign from her position as the…View ↗
Held flat. Revenue was $12.4M in FY2022, about the same as the $12.9M of FY2018.
Commercial sales
The earlier report described Mirati as a clinical-stage oncology company, while the latest reports KRAZATI as its first commercial product and says sales began in the United States.
10-K for FY2019, filed Feb 26, 2020 10-K for FY2022, filed Feb 28, 2023Mirati Therapeutics, Inc. is a clinical-stage oncology company developing product candidates to address the genetic and immunological…View ↗
KRAS program maturity
A KRAS inhibitor program described as preclinical in the earlier report had advanced to clinical evaluation in the latest report.
10-K for FY2019, filed Feb 26, 2020 10-K for FY2022, filed Feb 28, 2023The RAS family of genes is the most commonly mutated oncogene and mutations in this gene family occur in up to approximately 25% of all…View ↗
MRTX1133, our lead KRAS G12D compound, is an investigational, selective, specific and potent inhibitor of KRAS G12D. On January 19, 2023…View ↗
Who Did They Compete With?
Competes with Amgen, F. Hoffman-LaRoche, Eli Lilly and, Merck &, Novartis, Boehringer Ingelheim International, Revolution Medicines, Eisai, AstraZeneca, Tango Therapeutics, AbbVie, Bristol-Myers Squibb, Gilead Sciences, GlaxoSmithKline, Johnson & Johnson, Pfizer, Sanofi, and Takeda Pharmaceutical
10-K for FY2022, filed Feb 28, 2023We are aware of other companies who currently have competing commercial or clinical-stage direct KRAS G12C inhibitor programs including…View ↗
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