Mirati Therapeutics (MRTX) Prices 3.45M Share Offering at $145/sh

Mirati Therapeutics, Inc. (Nasdaq: MRTX), a clinical-stage targeted oncology company, today announced the pricing of an underwritten public offering of 3,448,275 shares of its common stock at a price to the public of $145.00 per share. The aggregate gross proceeds to Mirati from this offering are expected to be approximately $500.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Mirati. The offering is expected to close on or about November 15, 2021, subject to customary closing conditions. Mirati has also granted the underwriters a 30-day option to purchase up to an additional 517,241 shares of common stock in connection with the public offering.

Mirati expects to use the net proceeds from this offering for preparing for the potential U.S. commercial launch of adagrasib in patients with KRAS G12C-mutated advanced non-small cell lung cancer, continued commercial development and manufacturing scale-up of adagrasib, on-going clinical development of adagrasib and sitravatinib, the preclinical and clinical development of MRTX1719 and MRTX1133, the development of other preclinical programs and the expansion of its organizational capabilities, and for working capital.

Goldman Sachs & Co. LLC, SVB Leerink LLC, and Cowen and Company, LLC are acting as book-running managers in the offering.

The shares of common stock described above are being offered pursuant to a shelf registration statement filed by Mirati with the Securities and Exchange Commission ("SEC") that became automatically effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at [email protected]; or from SVB Leerink LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (833) 297-2926, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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