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Mirati Therapeutics Reports Third Quarter 2013 Financial Results
Date:11/12/2013

SAN DIEGO, Nov. 12, 2013 /PRNewswire/ -- Mirati Therapeutics, Inc. ("Mirati") (NASDAQ: MRTX) today reported financial results for the third quarter and nine months ended September 30, 2013.

Recent Corporate Highlights

  • Completed financing that generated net proceeds of $53.0 million
  • Strengthened our world-class precision medicine team with addition of Isan Chen to the position of chief medical and development officer
  • Progressed new formulations for MGCD265 with a goal of initiating dose expansion cohorts in selected patient populations in the first quarter of 2014
  • Initiated development plans for mocetinostat in patients with myelodysplastic syndrome, with a dose confirmation study expected to begin this year and plans to finalize discussions and obtain a special protocol assessment from the FDA for the design of a Phase III trial in the first half of 2014
  • "This has been a year of great progress for Mirati, we completed a successful financing ($53.0 million), built out an extremely accomplished precision medicine team and restructured the corporation, which will allow us to aggressively advance our oncology pipeline," said Dr. Charles Baum, president and CEO of Mirati. "In 2014, we will use the foundation we have built to achieve key milestones in each of our programs. By mid-2014 we plan to have confirmation of clinical activity for MGCD265, our kinase inhibitor program targeting Met, Axl and VEGFR, in selected solid tumor patients with high unmet need and potential accelerated approval registration paths. We also plan to initiate a Phase 1 study with MGCD516, our second multi-target kinase inhibitor program focused on Trk, RET, DDR and EphRs, in cancer patients by mid-2014 and to enter further expansion studies in selected tumor types by the end
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    SOURCE Mirati Therapeutics, Inc.
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