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Mirati Therapeutics

All articles tagged with #mirati therapeutics

business2 years ago

"Top Stock Movers: General Dynamics, United Airlines, Spotify, Walt Disney, Lockheed Martin, Exxon Mobil, and More"

Spotify's shares fell after being downgraded by Redburn Atlantic due to concerns over competition from Amazon and the impact of its new audiobook offer on margin expansion. Zscaler saw a rally in its stock after receiving an overweight rating from Barclays, with the analyst highlighting growth opportunities in the cybersecurity segment. Mirati Therapeutics' shares dropped following the announcement of its acquisition by Bristol Myers Squibb. Tesla's stock declined after data showed a 10.9% year-over-year sales decline in China. Defense stocks, including Northrop Grumman and General Dynamics, rallied amid rising conflict between Palestine and Israel, while airline stocks, such as United Airlines and Delta Air Lines, were down as major airlines suspended service to Israel.

via CNBC|
#business#defense-stocks#mirati-therapeutics
business2 years ago

Bristol Myers Squibb's Acquisition of Mirati Therapeutics Sends Shockwaves Through Biotech Industry

Bristol Myers Squibb has announced its plans to acquire drugmaker Mirati Therapeutics in a deal worth up to $5.8 billion, expanding its oncology business portfolio. The acquisition includes Mirati's lung cancer drug, Krazati, and other targeted oncology assets. The transaction is expected to be completed by the first half of 2024, pending approval from Mirati's stockholders and regulatory authorities. Bristol Myers Squibb intends to finance the acquisition through a combination of cash and debt.

via Fox Business|
#acquisition#bristol-myers-squibb#business
business2 years ago

Bristol-Myers Squibb to Acquire Mirati Therapeutics in Multi-Billion Dollar Deal

Bristol-Myers Squibb (BMS) has announced its acquisition of cancer drugmaker Mirati Therapeutics for up to $5.8 billion. The deal will diversify BMS's oncology business and help offset expected revenue losses from patent expirations. BMS will gain access to Mirati's portfolio of drugs targeting specific genetic drivers of cancers, including the approved lung cancer drug Krazati. The acquisition is seen as strategically complementing BMS's oncology portfolio and will be financed through a combination of cash and debt. Mirati stockholders will also receive a contingent value right, potentially worth $12.00 per share in cash. The transaction is expected to be dilutive to BMS's non-GAAP earnings per share in the first 12 months after closing.

via Reuters|
#acquisition#bristol-myers-squibb#business
business2 years ago

Bristol-Myers Squibb's $4.8B Acquisition of Mirati Therapeutics

Bristol-Myers Squibb is acquiring cancer drugmaker Mirati Therapeutics in a $4.8 billion deal. The transaction will be financed with a combination of cash and debt. The acquisition is expected to be dilutive to Bristol-Myers Squibb's non-GAAP earnings per share. Mirati stockholders will receive a Contingent Value Right for each share held, potentially worth $12.00 per share in cash. Mirati's lung cancer drug, Krazati, was approved by the U.S. health regulator in December.

via CNBC|
#acquisition#bristol-myers-squibb#business
business2 years ago

Sanofi Considers Acquiring Mirati Therapeutics to Bolster Oncology Portfolio

Bristol Myers Squibb has announced its acquisition of Mirati Therapeutics for $4.8 billion, with a potential total value of $5.8 billion. The acquisition will strengthen Bristol Myers Squibb's oncology portfolio by adding Mirati's assets, including KRAZATI (adagrasib), a best-in-class KRASG12C inhibitor approved by the FDA for the treatment of advanced non-small cell lung cancer. Mirati's pipeline also includes a selective PRMT5/MTA inhibitor, MRTX1719, and a KRAS and KRAS enabling program. The transaction is expected to close in the first half of 2024, subject to regulatory approvals.

via Bristol-Myers Squibb|
#acquisition#bristol-myers-squibb#business