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Re: Asco-GU: confirmation for Seattle and a reminder for MiratiMirati Therapeutics. With no drugs approved yet a stock price near $100 a share & a target of $115. MIRATI THERAPEUTICS ANNOUNCED INITIAL DATA IN RENAL CELL CARCINOMA FROM ONGOING INVESTIGATOR SPONSORED CLINICAL TRIAL OF SITRAVATINIB IN COMBINATION WITH NIVOLUMAB AT THE 2020 ASCO GENITOURINARY CANCERS SYPOSIUM 2/15/2020. Mirati Therapeutics, Inc. (NASDAQ: MRTX), a clinical stage targeted oncology company, today announced the presentation of initial data from an ongoing investigator sponsored Phase 1/2 clinical trial of sitravatinib in combination with nivolumab (OPDIVOŽ) in patients with advanced clear cell renal cell cancer (aCCRCC) who have documented progression on a prior VEGF-targeted therapy. The data were presented today in an oral abstract presentation by Pavlos Msaouel, M.D., Ph.D., Assistant Professor, Department of Genitourinary Medical Oncology,Division of Cancer Medicine, The University of Texas MD Anderson Cancer Center, at the 2020 ASCO Genitourinary Cancers Symposium in San, CA.. "The initial efficacy data from the Phase 1/2 clinical trial presented today demonstrates encouraging durable responses, when compared with progression-free survival rates expected with nivolumab alone in aCCRCC patients that progressed on prior VEGF-targeted therapy," said Charles M. Baum, M.D., Ph.D., President and Chief Executive Officer of Mirati. "These data indicate the potential range of extended clinical benefit beyond checkpoint refractory non-small cell lung cancer and metastatic urothelial cancer." As of the data cut-off date of January 1, 2020, 38 out of 40 patients enrolled were evaluable for response at greater than 12 weeks on therapy: 15/38 (39%) patients achieved a confirmed partial response (PR) including one PR that has improved to an unconfirmed complete response (CR)35/38 (92%) patients achieved clinical benefit (combination of stable disease plus PR plus CR) Initial median progression-free survival (PFS) was 10.3 months Median overall survival (OS) has not yet been reached (median follow-up was 17.7 months) with 30/38 patients (79%) still on study as of the data cut-off date. The combination has been well-tolerated with manageable adverse events. Also: Mirati Therapeutics is in a race with Amgen (NASDAQ:AMGN) to find a drug that successfully inhibits KRAS mutations. KRAS is a gene in our bodies that has been identified as a cause of multiple cancers. Right now one of Mirati's drugs is targeting a specific sub-mutation identified as KRAS G12C. This genetic malfunction is seen in 14% of non-small cell lung cancers, 5% of colon cancers, and 2% of pancreatic cancers. The company's drug is an attempt to shut down this mutated gene so it will stop producing cancer cells. Investors who want to play it safe might want to invest in Amgen, not Mirati; Amgen is also pursuing drugs to inhibit the KRAS mutations. However, Amgen is a highly profitable, $130 billion megacap biotech with multiple drugs in clinical trials. If its KRAS program fails, Amgen's stock will take a minor hit and the company will continue onwards and upwards. On the other hand, if Amgen and Mirati are both right about the importance of KRAS genes, then Mirati shareholders are likely to see far bigger returns on their investments. With the smaller biotech, the risk is higher but the rewards are greater. Mirati is a $4 billion small cap with extensive knowledge of KRAS. Failure here would be brutal to the stock. On the other hand, any success would boost the stock into the stratosphere. |
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