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Mirati Therapeutics Reports Second Quarter 2014 Financial Results and Provides Business Update
Date:8/8/2014

same period in 2013. Research and development expenses for the six months ended June 30, 2014 were $12.4 million, compared to $10.0 million for the same period in 2013. The Company's research and development expenses during the second quarter and six months ended June 30, 2014 primarily consisted of costs to advance the clinical development of its three oncology programs, MGCD265, MGCD516 and mocetinostat. General and administrative expenses for the second quarter of 2014 were $2.9 million, compared to $2.4 million for the same period in 2013. General and administrative expenses for the six months ended June 30, 2014 were $5.3 million, compared to $4.9 million for the same period in 2013.

Other expense, net for the second quarter of 2014 was $0.9 million compared to $1.1 million for the same period in 2013. Other expense, net for the six months ended June 30, 2014 was $6.6 million compared to other income of $2.7 million for the same period in 2013. Other income or expense, net is comprised primarily of gains or losses arising from the change in fair value of our warrant liability.

Net loss and comprehensive loss for the second quarter was $11.0 million, or $0.82 per share, compared to net loss and comprehensive loss of $8.0 million, or $0.80 per share for the same period in 2013. Net loss and comprehensive loss for the six months ended June 30, 2014 was $24.7 million, or $1.83 per share, compared to net loss and comprehensive loss of $12.2 million, or $1.23 per share for the same period in 2013.

About Mirati Therapeutics
Mirati Therapeutics is a targeted oncology company developing an advanced pipeline of breakthrough medicines for precisely defined patient populations. Mirati's approach combines the three most important factors in oncology drug development - drug candidates with complementary and compelling targets, creative and agile clinical development, and a highly accomplished precision medicine leadership team. The Mirati tea
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SOURCE Mirati Therapeutics, Inc.
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