Sanofi Exploring Acquisition of KRAS Cancer Drugmaker Mirati
October 05, 2023 - French pharmaceutical giant Sanofi is exploring a potential acquisition of cancer drugmaker Mirati Therapeutics Inc., according to people familiar with the matter. Mirati’s shares surged 45% — the most since 2017 — in New York trading. The shares, which had fallen 37% in the the past year through Wednesday, closed Thursday at $62.38, elevating the San Diego-based company’s market value to about $4.2 billion.
Mirati is in the process of rolling out its first product to patients, a drug called Krazati that’s used as a second-line treatment for a type of lung cancer in which the the KRAS gene has mutated. The company received accelerated approval from the Food and Drug Administration for the drug in December.
https://finance.yahoo.com/news/sanofi-explore-acquisition-cancer-drugmaker-183016461.html