Why Mirati Therapeutics Stock Is Skyrocketing This Week

Shares of Mirati Therapeutics (NASDAQ: MRTX) were skyrocketing 37.2% this week as of the market close on Thursday, according to data from S&P Global Market Intelligence. This huge gain came after the company presented data at the 2022 American Society of Clinical Oncology annual meeting on Monday.

For a biotech stock to soar as much as Mirati has on the presentation of clinical data, that data has to be exceptionally positive. That was definitely the case this week.

Mirati presented data from a phase 1b cohort of its Krystal-1 study evaluating adagrasib in treating KRAS G12C-mutated non-small cell lung cancer with active and untreated central nervous system metastases. The company reported that 32% of the 19 evaluable patients had an intracranial response to the drug.

Source Fool.com