Mirati Therapeutics, Inc.

NasdaqGS:MRTX Stock Report

Market Cap: US$4.1b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Mirati Therapeutics Management

Management criteria checks 4/4

Mirati Therapeutics' CEO is Chuck Baum, appointed in Nov 2012, has a tenure of 11.17 years. total yearly compensation is $7.42M, comprised of 9.2% salary and 90.8% bonuses, including company stock and options. directly owns 0.16% of the company’s shares, worth $6.57M. The average tenure of the management team and the board of directors is 2.5 years and 5.1 years respectively.

Key information

Chuck Baum

Chief executive officer

US$7.4m

Total compensation

CEO salary percentage9.22%
CEO tenure11.2yrs
CEO ownership0.2%
Management average tenure2.5yrs
Board average tenure5.1yrs

Recent management updates

Recent updates

Analysis Article • Oct 05

We Think Mirati Therapeutics (NASDAQ:MRTX) Needs To Drive Business Growth Carefully

Just because a business does not make any money, does not mean that the stock will go down. For example, although...
Analysis Article • Jun 22

Is Mirati Therapeutics (NASDAQ:MRTX) In A Good Position To Invest In Growth?

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
Analysis Article • May 17

Need To Know: Analysts Are Much More Bullish On Mirati Therapeutics, Inc. (NASDAQ:MRTX) Revenues

Mirati Therapeutics, Inc. ( NASDAQ:MRTX ) shareholders will have a reason to smile today, with the analysts making...
Analysis Article • Feb 01

We Think Mirati Therapeutics (NASDAQ:MRTX) Needs To Drive Business Growth Carefully

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
Analysis Article • Dec 09

Some Analysts Just Cut Their Mirati Therapeutics, Inc. (NASDAQ:MRTX) Estimates

The analysts covering Mirati Therapeutics, Inc. ( NASDAQ:MRTX ) delivered a dose of negativity to shareholders today...
Analysis Article • Oct 08

We Think Mirati Therapeutics (NASDAQ:MRTX) Can Afford To Drive Business Growth

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
Analysis Article • Sep 11

Is There An Opportunity With Mirati Therapeutics, Inc.'s (NASDAQ:MRTX) 30% Undervaluation?

In this article we are going to estimate the intrinsic value of Mirati Therapeutics, Inc. ( NASDAQ:MRTX ) by estimating...
Seeking Alpha • Sep 08

Mirati: A Potential Blockbuster Stock, Will Need Patience

Summary Mirati has strong competitive differences against larger rival Amgen. However, lead indication, 2nd line NSCLC, is not where these differences will come out. Investors need to be patient and wait for combo data, 1st line NSCLC and especially CRC for Mirati to really stand out. I have been regularly covering Mirati Therapeutics, Inc. (MRTX) for nearly a year now. The stock has been on a steady downward movement throughout, and has only plateaued around June from the earlier spiral. Indeed, since my last cautious coverage, the stock is up 35%. One key reason for Mirati’s price movement is Amgen’s (AMGN) recent data from lumakras, which has again showed Mirati's superior data for adagrasib. For people in the know, to cover Mirati and not to mention lumakras is ludicrous. The adagrasib-lumakras story is thoroughly intertwined. You need to understand lumakras in order to get the Mirati story. Mirati competes with Amgen in the KRAS G12C mutant NSCLC space. In 2nd line NSCLC, Adagrasib may have a slight edge over lumakras in efficacy, however lumakras may have an edge - also slight - in safety; plus it is ahead in clinical development, having been approved on an accelerated basis, and it has a higher median duration of response to boot. Adagrasib’s slight edge lies in the slightly higher ORR, and signs of improvement in patients with brain metastases; as well as in patients with a specific co-mutation which is known to have poor prognosis. Another important point is that adagrasib works well in combination with other drugs. For example, adagrasib has very superior data in frontline NSCLC in combination with keytruda. Lumakras' data here is much poorer. As I said about these two points before: Another angle with adagrasib is its CNS penetration. Mice data has shown that adagrasib has a much better brain concentration than AstraZeneca’s Tagrisso. The company is enrolling a cohort of patients to assess adagrasib in NSCLC patients with a G12C mutation and active brain metastases. Also, KRAS and STK11 co-mutations comprise approximately 30% of KRASG12C mutant NSCLC. A potentially registration enabling Phase 2 monotherapy study in 1st line NSCLC patients with STK11 co-mutation was initiated in Q1:2021. About this program, the company said: Patients with STK11 co-mutations or TTS scores of less than 1% have a poor prognosis with standard of care therapies with objective response rates in the first-line of approximately 30% and median progression-free survival of less than 6 months. In patients with STK11 co-mutations, published real-world data suggests that the medium progression-free survival is approximately 2 months. Collectively, these 2 patient sub-groups represent greater than 40% of the total first-line KRAS G12C non-small cell lung cancer patient population. We are discussing the potential registration pathways for each of these patient populations with the FDA. It is also the only molecule in its class with a ~24 hour half life. Lumakras (Sotorasib) has a half life of 5.5 hours. While this was about NSCLC, where adagrasib has some competition from lumakras, I have said before that in CRC, adagrasib’s data is beyond compare. Unfortunately for Mirati investors, the company’s lead indication right now is 2nd line NSCLC. Therefore, the market may believe Mirati is playing catch up with Amgen. This isn’t true for CRC. While lumakras has had just a 7% response rate in CRC, Mirati showed a 22% response rate and a median duration of response ((MDOR)) of 4.2 months. As the company has previously guided, anything better than 20% and 4 months respectively is good enough for seeking accelerated approval. Recently at ESMO 2022, Mirati again showed its superiority both as a monotherapy and as a combo in CRC versus lumakras - see here. In 2nd line NSCLC, though, while Amgen managed to push in a very late breaking abstract from its CODEBREAK-200 confirmatory trial, the data readout pushed up MRTX stock because it throws some doubt on lumakras’ full approval based on this data alone.
Seeking Alpha • Aug 31

Mirati jumps 11% as Amgen meets key goal for rival cancer drug

The shares of clinical-stage biotech Mirati Therapeutics (NASDAQ:MRTX) added ~11% in the pre-market trading Wednesday after Amgen (AMGN) announced a lung cancer medication that rivals the company’s key asset adagrasib reached the primary objective in a late-stage trial. AMGN’s Lumakras is a KRAS G12C inhibitor similar to MRTX’s adagrasib, which is currently undergoing the U.S. regulatory review for non-small cell lung cancer (NSCLC) as a second-line option. While the FDA has already approved Lumakras for certain patients with NSCLC, its continued approval depends on the results of confirmatory trials. Announcing topline data from a Phase 3 trial, AMGN said Tuesday that the once-daily oral therapy met the primary endpoint of progression-free survival (PFS) compared to standard of care chemotherapy in NSCLC, an event with de-risking potential for adagrasib. Read: Arguing that MRTX lacks significant benefits over AMGN in NSCLC, Seeking Alpha contributor Avisol Capital Partners points to the prospects of adagrasib in colorectal cancer and pancreatic cancers.
Seeking Alpha • Aug 08

Mirati gains as Amgen posts new combination data for rival cancer drug

Mirati Therapeutics (NASDAQ:MRTX) added ~10% in the pre-market Monday after Amgen (AMGN) posted Phase 1 data for the rival KRAS inhibitor Lumakras, highlighting liver side effects of the cancer drug in combination with immunotherapies. In 2021, Lumakras became the first approved targeted therapy for tumors with any KRAS mutation when the FDA greenlighted it for adult patients with non-small cell lung cancer (NSCLC). However, the KRAS inhibitor in combination with immunotherapies pembrolizumab or atezolizumab, developed by Merck (MRK) and Roche (OTCQX:RHHBY) (OTCQX:RHHBF), respectively, led to an objective response rate of only 29% in patients with KRAS G12C-mutated NSCLC. Notably, the drug combo was linked to a higher incidence of grade 3-4 treatment-related adverse events (TRAEs), mainly increases in liver enzymes, Amgen (AMGN) said, posting the data ahead of a presentation at a medical event. Amgen’s (AMGN) KRAS inhibitor Adagrasib is currently under FDA review as a second-line option in lung cancer.
Analysis Article • Aug 08

Need To Know: Analysts Are Much More Bullish On Mirati Therapeutics, Inc. (NASDAQ:MRTX) Revenues

Shareholders in Mirati Therapeutics, Inc. ( NASDAQ:MRTX ) may be thrilled to learn that the analysts have just...
Seeking Alpha • Jun 21

Mirati: Not Looking Good In 2022, But Stronger Prospects In 2-3 Years

Mirati will probably not get accelerated approval for adagrasib in 2nd line NSCLC. This will delay their program for two years. However, much of their data is stronger than Amgen's lumakras.

CEO Compensation Analysis

How has Chuck Baum's remuneration changed compared to Mirati Therapeutics's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2023n/an/a

-US$726m

Jun 30 2023n/an/a

-US$738m

Mar 31 2023n/an/a

-US$737m

Dec 31 2022US$7mUS$685k

-US$741m

Sep 30 2022n/an/a

-US$738m

Jun 30 2022n/an/a

-US$645m

Mar 31 2022n/an/a

-US$634m

Dec 31 2021US$18mUS$662k

-US$582m

Sep 30 2021n/an/a

-US$483m

Jun 30 2021n/an/a

-US$491m

Mar 31 2021n/an/a

-US$407m

Dec 31 2020US$12mUS$615k

-US$358m

Sep 30 2020n/an/a

-US$329m

Jun 30 2020n/an/a

-US$296m

Mar 31 2020n/an/a

-US$259m

Dec 31 2019US$8mUS$597k

-US$213m

Sep 30 2019n/an/a

-US$169m

Jun 30 2019n/an/a

-US$142m

Mar 31 2019n/an/a

-US$125m

Dec 31 2018US$5mUS$580k

-US$98m

Sep 30 2018n/an/a

-US$88m

Jun 30 2018n/an/a

-US$77m

Mar 31 2018n/an/a

-US$67m

Dec 31 2017US$2mUS$563k

-US$70m

Compensation vs Market: Chuck's total compensation ($USD7.42M) is about average for companies of similar size in the US market ($USD6.39M).

Compensation vs Earnings: Chuck's compensation has been consistent with company performance over the past year.

CEO

Chuck Baum (65 yo)

11.2yrs
Tenure
US$7,420,213
Compensation

Dr. Charles M. Baum, M.D., Ph D., also known as Chuck, is a Director of Acrivon Therapeutics, Inc. from June 2023. Dr. Baum is an Independent Director of Poseida Therapeutics, Inc. from May 16, 2022.He se...

Leadership Team

NamePositionTenureCompensationOwnership
Charles Baum
Founder11.2yrsUS$7.42m0.16%
$ 6.6m
James Christensen
Executive VP & Chief Scientific Officer10yrsUS$5.01m0.082%
$ 3.4m
Alan Bart Sandler
Executive VP & Chief Medical Officer1.2yrsUS$5.30m0.014%
$ 587.2k
Aaron Ondrey
Chief Financial Officerless than a yearno data0.056%
$ 2.3m
Betsy Gelfand
Chief Accounting Officerless than a yearno datano data
John Moriarty
Chief Legal Officer & Corporate Secretary1yrno datano data
Peter Lee
Chief Compliance Officer2yrsno datano data
Michael Paolucci
Chief People Officer2yrsno datano data
Benjamin Hickey
Chief Commercial Officer4yrsUS$6.93m0.040%
$ 1.6m
Kelly Covello
VP & Head of Medical Affairs3.8yrsno datano data
Ryan Asay
VP & Head of Corporate Affairs3.8yrsno datano data
Susan Welsh
Senior VP of Pharmacovigilance & Chief Safety Officer3yrsno datano data
2.5yrs
Average Tenure
55yo
Average Age

Experienced Management: MRTX's management team is considered experienced (2.5 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Charles Baum
Founder11.2yrsUS$7.42m0.16%
$ 6.6m
Bruce Leonard Carter
Independent Director7.3yrsUS$700.41k0.0086%
$ 353.3k
George Demetri
Member of Scientific Advisory Boardno datano datano data
Faheem Hasnain
Chairman & Lead Independent Director4.9yrsUS$979.79k0.012%
$ 511.8k
Julie Michele Cherrington
Independent Director4.6yrsUS$697.91k0%
$ 0
Stephen Baylin
Member of Scientific Advisory Boardno datano datano data
Lillian Siu
Member of Scientific Advisory Boardno datano datano data
Aaron Davis
Independent Director5.1yrsUS$677.91k0.061%
$ 2.5m
Pasi Antero Janne
Member of Scientific Advisory Board5yrsno datano data
Craig Johnson
Independent Director10.3yrsUS$702.91k0.0086%
$ 353.3k
Channing Der
Member of Scientific Advisory Board5yrsno datano data
Maria Martinez-Davis
Independent Director5.1yrsUS$695.41k0.0086%
$ 353.3k
5.1yrs
Average Tenure
65yo
Average Age

Experienced Board: MRTX's board of directors are considered experienced (5.1 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/01/23 03:38
End of Day Share Price 2024/01/22 00:00
Earnings2023/09/30
Annual Earnings2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Mirati Therapeutics, Inc. is covered by 20 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Huidong WangBarclays
George FarmerBMO Capital Markets Equity Research
Jason Matthew GerberryBofA Global Research