Mirati Therapeutics, Inc. (MRTX) Shares Skyrocket On Positive Lung Cancer Study Data

California-based biotech firm Mirati Therapeutics, Inc. (NASDAQ:MRTX) saw its size increase more than 60% in after-hours Thursday as it indicated positive preliminary results from two ongoing clinical trials to treat non-small cell lung cancer (NSCLC). The clinical stage company is set to release the results this Friday. “We are evaluating sitravatinib in combination with nivolumab in this checkpoint resistant population and are very encouraged by the responses observed, since responses would not be expected from re-treatment with a checkpoint inhibitor alone”, commented CEO Charles M. Baum. MRTX found sitravatinib and nivolumab “well tolerated” by patients with “a manageable safety profile” — results include Phase 2 study of sitravatinib and nivolumab to treat NSCLC patients that received previous treatment with a checkpoint inhibitor. “For the majority of NSCLC patients who progress following checkpoint therapy, there is a need for new therapeutic options,” said the CEO. The company will also present a case study of a NSCLC patient with a CBL inactivating mutation treated in the Phase 1b trial of sitravatinib as a single agent. “Inactivating mutations in CBL occur in approximately 1.5% of NSCLC patients and currently represent an unmet medical need”, added Mr Baum. Find more Biotech Breakthroughs on Simply Wall St