MRTX Prices Offering At $5.60/Share

(RTTNews) - Mirati Therapeutics Inc. (MRTX) has offered to sell 4.35 million shares of its common stock to the public at a price of $5.60 each.

The gross proceeds from the offering are expected to be about $65.0 million, and is scheduled to close on or about January 11, 2017.The underwriters have a 30-day option to purchase up to an additional 652,526 shares of common stock in connection with the public offering.

The company's clinical programs include Glesatinib, under phase II study in non-small cell lung cancer; Sitravatinib, under phase 1b trial for the treatment of genetically-selected non-small cell lung cancer and other solid tumors, and Mocetinostat, under a phase 1b/2 trial in patients with advanced solid tumors and NSCLC.

Additional update on the Glesatinib program is expected in the second half of 2017, the Sitravatinib program in Q3 2017 and Mocetinostat program update in mid-year 2017. MRTX closed Friday's trading at $5.70, down 3.39%.