Mirati Therapeutics
Mirati Therapeutics was an American oncology biotechnology company specializing in targeted therapies for genetically defined cancers, particularly KRAS-mutated tumors.
Last updated August 31, 2026
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Overview
Mirati Therapeutics was an American biopharmaceutical company focused on discovering and developing targeted cancer medicines. Based in San Diego, California, the company built its identity around precision oncology: matching molecularly defined tumors with medicines designed to inhibit the biological drivers of those tumors. Its principal research and development focus was the KRAS family of cancer mutations, historically regarded as difficult targets because of the structure and behavior of the KRAS protein. The company’s work concentrated on therapies intended for cancers carrying specific KRAS alterations. KRAS mutations can activate growth-signaling pathways and are found in a range of solid tumors, including lung, colorectal, and pancreatic cancers. Mirati pursued compounds that could bind to particular mutant forms of KRAS and suppress their activity. This approach positioned the company within the broader movement toward biomarker-driven oncology, in which treatment selection depends on the genetic characteristics of a patient’s tumor rather than solely on the organ in which the cancer originated. Mirati became a public company in 2013, trading on the Nasdaq under the ticker MRTX. Over time, its development portfolio included adagrasib, an inhibitor directed at KRAS G12C, and sitravatinib, a multi-kinase inhibitor investigated in oncology combinations and other settings. Adagrasib became the company’s leading commercial and regulatory asset. It was marketed as Krazati for certain adults with previously treated KRAS G12C-mutated non-small-cell lung cancer. The medicine represented an important part of the company’s strategy to translate KRAS biology into a targeted treatment option, although its commercial position existed within a competitive market that included other KRAS G12C therapies. Mirati also pursued earlier-stage KRAS programs, including a preclinical candidate directed at the KRAS G12D mutation. G12D is a distinct alteration from G12C and is particularly relevant to several difficult-to-treat solid tumors. Progress in this area reflected Mirati’s attempt to extend its scientific platform beyond the first commercially validated KRAS target. The company’s portfolio also included combination-oriented oncology research intended to address resistance mechanisms and the complexity of advanced cancers. In 2023, Bristol Myers Squibb agreed to acquire Mirati in a transaction valued at approximately $4.8 billion in cash, with the possibility of an additional $1 billion in milestone payments. The deal was completed in January 2024. Following the acquisition, Mirati ceased to operate as an independent publicly traded company and its assets, including Krazati and its development programs, became part of Bristol Myers Squibb’s oncology portfolio. Mirati’s corporate history therefore ended as an independent brand with its integration into a larger pharmaceutical group.
History
Mirati Therapeutics developed as an oncology-focused biotechnology company headquartered in San Diego, California. Its corporate identity was associated with the Italian word for “targeted,” reflecting a strategy centered on precision medicine and molecularly selected cancer populations. Rather than pursuing a broad pharmaceutical portfolio, Mirati concentrated its resources on treatments directed at defined genetic drivers of tumor growth. A central element of the company’s research strategy was KRAS. Mutations in KRAS are common in human cancers and can stimulate persistent signaling that promotes cell proliferation and survival. For many years, KRAS was considered one of the most challenging targets in oncology. Mirati’s programs sought to overcome that difficulty by developing small molecules capable of binding to and inhibiting particular mutant forms of the protein. This mutation-specific approach was important because different KRAS variants can have different biological and therapeutic characteristics. Mirati became publicly traded on the Nasdaq in 2013 under the symbol MRTX. Public-company financing and disclosure supported the progression of its clinical portfolio, while also exposing the business to the risks typical of development-stage biotechnology companies: lengthy trials, regulatory uncertainty, high research costs, and competition from companies pursuing related molecular targets. The company’s leading programs included adagrasib and sitravatinib. Adagrasib was designed to inhibit KRAS G12C, a mutation found in a subset of non-small-cell lung cancers and other solid tumors. The program became Mirati’s principal clinical and commercial asset and was associated with the product name Krazati. Its development illustrated the company’s core proposition: convert advances in cancer genetics into a treatment directed at a specific molecular alteration. Sitravatinib, a multi-kinase inhibitor, was investigated in oncology, including combination approaches intended to influence the tumor microenvironment and improve responses to other cancer treatments. Mirati also worked on next-generation KRAS research. Its preclinical work included a candidate aimed at KRAS G12D, a mutation distinct from G12C and relevant to several major solid tumors. Development of such programs reflected the company’s effort to broaden its reach within KRAS biology and to address tumor types and mutations that remained difficult to treat. The company’s overall pipeline combined a more advanced commercial program with earlier-stage discovery and development assets. The company’s independent history concluded through a strategic transaction with Bristol Myers Squibb. In October 2023, Bristol Myers Squibb agreed to purchase Mirati in an all-cash transaction valued at about $4.8 billion, together with potential milestone payments of up to $1 billion. The transaction was completed in January 2024. Mirati was consequently absorbed into Bristol Myers Squibb, and its medicines and research programs became part of the acquiring company’s oncology operations. The acquisition marked the transition of Mirati from an independent Nasdaq-listed biotechnology company to an acquired pharmaceutical business.
- 2024
Acquisition completed
[1]Bristol Myers Squibb completed its acquisition of Mirati in January, ending Mirati's existence as an independent public company.
- 2023
Bristol Myers Squibb acquisition agreement
[1]Bristol Myers Squibb agreed to acquire Mirati for approximately $4.8 billion in cash, plus potential milestone payments of up to $1 billion.
- 2013
Nasdaq listing
[1]Mirati Therapeutics began trading publicly on Nasdaq under the ticker MRTX.
Products and positioning
A precision-oncology biotechnology company focused on developing targeted treatments for cancers driven by specific KRAS mutations and other molecular abnormalities.
Targeted oncology medicine
Krazati (adagrasib)
Adagrasib is a small-molecule inhibitor designed to target the KRAS G12C mutation. It became Mirati’s leading commercial asset and was marketed under the name Krazati for certain adults with previously treated KRAS G12C-mutated non-small-cell lung cancer. The medicine represented the company’s central effort to convert mutation-specific KRAS research into a targeted treatment. Following the acquisition, Krazati became part of Bristol Myers Squibb’s oncology portfolio.
Investigational multi-kinase inhibitor
Sitravatinib
Sitravatinib is an investigational multi-kinase inhibitor studied in oncology settings, including combinations with other cancer therapies. Mirati explored the compound as part of a strategy to influence tumor growth and the tumor microenvironment. It was one of the company’s principal development programs but was not identified in the supplied reference material as a leading approved product.
Preclinical KRAS G12D inhibitor
MRTX1133
MRTX1133 was a preclinical program directed at the KRAS G12D mutation. The program extended Mirati’s scientific focus beyond KRAS G12C toward another important cancer-associated alteration. Its development reflected the company’s attempt to build a broader mutation-specific oncology platform, although it remained an early-stage candidate in the supplied reference material.
Brand decisions
2023
Accept Bristol Myers Squibb acquisition offerM&ABackground
Mirati operated as a publicly traded biotechnology company with a portfolio centered on targeted oncology, including the KRAS G12C program that produced adagrasib.
Action taken
The company agreed to an all-cash acquisition by Bristol Myers Squibb valued at approximately $4.8 billion, with potential additional milestone payments of up to $1 billion.
Aftermath
The transaction was completed in January 2024. Mirati ceased to operate independently, and its products and research programs were incorporated into Bristol Myers Squibb.
Announced transaction value. $4.8 billion cash consideration, plus potential milestone payments of up to $1 billion (2023 announcement; completed January 2024)
Recent events
Mirati Therapeutics announces pricing of public stock offering[2]
Reported:
Mirati Therapeutics announced pricing for an underwritten public offering of 3,448,275 common shares at $145 per share, with gross proceeds expected to be approximately $500 million before expenses. The offering was expected to close on or about November 15, subject to customary closing conditions.
Mirati appoints David Meek as CEO[3]
Reported:
Mirati Therapeutics appointed David Meek as chief executive officer, effective immediately; he will also join the company's board. Charles M. Baum will continue as president, founder, and head of research and development.
QIAGEN and Mirati collaborate on KRAS companion diagnostic[4]
Reported:
QIAGEN announced a global collaboration with Mirati Therapeutics to continue developing a tissue-based KRAS companion diagnostic, initially focused on non-small cell lung cancer.
Mirati Therapeutics prices public stock offering[5]
Reported:
Mirati Therapeutics announced the pricing of an underwritten public offering of 3,076,924 common shares at $97.50 per share; the offering was expected to close on or about January 14, 2020, subject to customary closing conditions.
Sources5 sources
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