Mirati Therapeutics Announces Closing of Upsized Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares

SAN DIEGO, Aug. 11, 2023 /PRNewswire/ -- Mirati Therapeutics, Inc. (NASDAQ:MRTX), a commercial stage biotechnology company, today announced the closing of its previously announced underwritten public offering of 11,288,336 shares of its common stock at a price to the public of $27.80 per share, and, to certain investors, pre-funded warrants to purchase 1,121,736 shares of common stock at a price of $27.799 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.001 per share exercise price for each such pre-funded warrant. This includes the exercise in full by the underwriters of their option to purchase up to 1,618,705 additional shares of common stock. The aggregate gross proceeds to Mirati from this offering were approximately $345.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Mirati.

Goldman Sachs & Co. LLC acted as the book-running manager for the proposed offering. Leerink Partners LLC acted as financial advisor for the proposed offering.

The securities described above were offered pursuant to a shelf registration statement filed by Mirati with the Securities and Exchange Commission ("SEC") that became automatically effective upon filing. A final 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 may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526, 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.

About Mirati Therapeutics, Inc.

Mirati Therapeutics, Inc. is a commercial stage biotechnology company whose mission is to discover, design and deliver breakthrough therapies to transform the lives of patients with cancer and their loved ones. The company is relentlessly focused on bringing forward therapies that address areas of high unmet need, including lung cancer, and advancing a pipeline of novel therapeutics targeting the genetic and immunological drivers of cancer. Unified for patients, Mirati's vision is to unlock the science behind the promise of a life beyond cancer.

Mirati Contacts

Investor Relations: [email protected]

Media Relations: [email protected]

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SOURCE Mirati Therapeutics, Inc.