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

of 2014. We will complete discussions with the FDA to finalize our SPA for the design of a Phase 3 registration trial for mocetinostat in patients with myelodysplastic syndrome. This trial could be started by the second half of 2014."

Third Quarter and Nine Months Ended September 30, 2013 Financial Results Cash, cash equivalents, marketable securities and restricted cash totaled $15.3 million as of September 30, 2013 compared to $37.3 million on December 31, 2012. The cash does not include the $53.0 million in net proceeds from the public offering of 3.25 million shares of the Company's common stock, which closed on October 29, 2013. The Company believes that with the recent financing it has sufficient financial resources to carry forward its current clinical development and operating plans through the end of 2015.

Net research and development expenditures for the third quarter of 2013 were $5.5 million, $1.2 million higher than the third quarter of 2012. The higher expenses primarily reflect increased costs for mocetinostat and MGCD516. Net research and development expenditures were $15.5 million for the first nine months of 2013, compared to $10.1 million for the same period in 2012. Increases were primarily due to the factors listed above as well as increased costs for MGCD265, costs associated with organizational changes implemented in 2013 and a reduction in investment tax credits versus the prior year.

General and administrative expenses in the third quarter of 2013 were $3.7 million, $2.0 million higher than in the third quarter of 2012. General and administrative expenses were $8.6 million in the first nine months, compared to $4.0 million for the same period in 2012. The increase primarily reflects higher share-based compensation costs and costs associated with the recent corporate reorganization and associated management changes.

Other expense, net in the third quarter of 2013 was $20.1 million compared to other income, net of
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SOURCE Mirati Therapeutics, Inc.
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