Mirati's Sitravatinib Flunks Phase 3 Combo Therapy Study In Type Of Lung Cancer Setting
Portfolio Pulse from Vandana Singh
Mirati Therapeutics' SAPPHIRE study, evaluating sitravatinib in combination with Bristol-Myers Squibb's Opdivo for advanced non-squamous non-small cell lung cancer, failed to meet its primary endpoint of overall survival. Mirati's stock price fell 6.48% in premarket trading.
May 25, 2023 | 12:18 pm
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Mirati Therapeutics' stock price fell 6.48% in premarket trading after its SAPPHIRE study failed to meet its primary endpoint.
The failure of the SAPPHIRE study to meet its primary endpoint is a significant setback for Mirati Therapeutics, as it indicates that the combination therapy may not be as effective as hoped. This negative news directly impacts the company's stock price, causing it to fall in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
BeiGene paid Mirati $10 million upfront in 2018 for exclusive rights to sitravatinib in the Asia-Pacific region, but the impact of the failed SAPPHIRE study on BeiGene is unclear.
BeiGene paid Mirati $10 million upfront in 2018 for exclusive rights to sitravatinib in the Asia-Pacific region. However, the impact of the failed SAPPHIRE study on BeiGene's investment and future plans for sitravatinib in the region is unclear at this time.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Bristol-Myers Squibb's Opdivo was part of the failed SAPPHIRE study, but the impact on the company is likely to be limited.
Although Bristol-Myers Squibb's Opdivo was part of the combination therapy in the failed SAPPHIRE study, the impact on the company is likely to be limited. Opdivo is already an approved and marketed drug, and the failure of this specific combination therapy does not necessarily reflect poorly on the drug itself.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50