Mirati Therapeutics good news. The price will start to rise soon
I spent about 3 hours researching this company and I will divide my work into 3 parts. Last report, other positive news, and why you shouldn't open long position right now. Enjoy reading.
1) Mirati Therapeutics Reports First Quarter 2021 Financial Results (May 06, 2021)
The most important information:
- Initiated potentially registration-enabling trials evaluating our investigational KRASG12C inhibitor, adagrasib, in lung and colorectal cancers, as monotherapy and with other agents - POSITIVE NEWS
- Plan to file an Investigational New Drug (IND) application in 2022 for our investigational KRASG12D inhibitor, MRTX1133 - POSITIVE NEWS
- Presented preclinical data at AACR 2021 on an investigational synthetic lethal methylthioadenosine (MTA) cooperative PRMT5 inhibitor - POSITIVE NEWS
- Research and development expenses for the first quarter of 2021 were $104.1 million, compared to $71.7 million for the same period in 2020. !!!!!!!!!! - IMPORTANT
2) Other positive news (Jun 01, 2021)
- Mirati Therapeutics and Zai Lab Enter Into a Collaboration to Develop and Commercialize Adagrasib in Greater China
- Mirati to receive an upfront payment of $65 million, up to approximately $273 million in potential milestone payments and high-teen- to low-twenties-percent tiered royalties
3) Why you shouldn't open long position right now
First, there are too many resistance lines at the moment. I doubt that the price will suddenly rise now and break through all resistance lines.
After the May report, the price did not break the white resistance line. Most likely, the next report will raise the price and in my opinion, there is a good chance that it will end the bear market this year.
1) Mirati Therapeutics Reports First Quarter 2021 Financial Results (May 06, 2021)
The most important information:
- Initiated potentially registration-enabling trials evaluating our investigational KRASG12C inhibitor, adagrasib, in lung and colorectal cancers, as monotherapy and with other agents - POSITIVE NEWS
- Plan to file an Investigational New Drug (IND) application in 2022 for our investigational KRASG12D inhibitor, MRTX1133 - POSITIVE NEWS
- Presented preclinical data at AACR 2021 on an investigational synthetic lethal methylthioadenosine (MTA) cooperative PRMT5 inhibitor - POSITIVE NEWS
- Research and development expenses for the first quarter of 2021 were $104.1 million, compared to $71.7 million for the same period in 2020. !!!!!!!!!! - IMPORTANT
2) Other positive news (Jun 01, 2021)
- Mirati Therapeutics and Zai Lab Enter Into a Collaboration to Develop and Commercialize Adagrasib in Greater China
- Mirati to receive an upfront payment of $65 million, up to approximately $273 million in potential milestone payments and high-teen- to low-twenties-percent tiered royalties
3) Why you shouldn't open long position right now
First, there are too many resistance lines at the moment. I doubt that the price will suddenly rise now and break through all resistance lines.
After the May report, the price did not break the white resistance line. Most likely, the next report will raise the price and in my opinion, there is a good chance that it will end the bear market this year.