Mirati Therapeutics Slip 13% As Late-stage Trial Of Sitravatinib Fails To Meet Primary Goal

Shares of oncology company Mirati Therapeutics, Inc. (MRTX) were down 13% Thursday as its SAPPHIRE study did not meet its primary endpoint in a registrational Phase III trial in patients with second-or third-line advanced lung cancer.

MRTX is currently trading at $28.06, down 13.17% or $5.78 per share, on Nasdaq. It has traded between $32.96 and $101.30 in the past 52-week period.

SAPPHIRE is a Phase III study evaluating sitravatinib in combination with nivolumab versus docetaxel in patients with advanced lung cancer who progressed on prior therapy with chemotherapy and immune checkpoint inhibitor therapy.

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