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

SAN DIEGO, Nov. 20, 2017 /PRNewswire/ -- Mirati Therapeutics, Inc. (NASDAQ: MRTX) today announced the closing of its previously announced underwritten public offering of 2,938,986 shares of its common stock at a public offering price of $13.00 per share. This includes the exercise in full by the underwriters of their option to purchase up to 923,085 additional shares of common stock. In addition, and in lieu of common stock, Mirati sold to certain investors pre-funded warrants to purchase up to an aggregate of 4,137,999 shares of common stock at a purchase price of $12.999 per 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. The aggregate gross proceeds to Mirati from this offering were approximately $92.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Mirati.

Cowen and Barclays acted as joint book-running managers in the offering. SunTrust Robinson Humphrey, Oppenheimer & Co. and H.C. Wainwright & Co. acted as co-lead managers in the offering.

The securities described above were offered by Mirati pursuant to a shelf registration statement filed by Mirati with the Securities and Exchange Commission ("SEC") that was declared effective on November 18, 2015. A final prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and is 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 the offices of Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by calling (631) 274-2806; or from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (888) 603-5847, or by email at Barclaysprospectus@broadridge.com.

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

About Mirati Therapeutics

Mirati Therapeutics is a clinical-stage biotechnology company focused on developing a pipeline of targeted oncology products intended to treat specific genetic and epigenetic drivers of cancer. This approach is transforming the treatment of patients by targeting the genetic changes in tumor cells that result in uncontrolled tumor growth and migration. Mirati's precision oncology programs seek to treat the patients most likely to benefit from targeted oncology treatments and are driven by drugs that target very specific genetic mutations, directed by genomic tests that identify patients who carry those driver mutations. Mirati's immuno-oncology programs are novel small molecule drugs designed to enhance and expand the efficacy of checkpoint inhibitors when given in combination. In addition to its clinical programs, Mirati has active discovery research efforts focused on novel oncology targets. The promise of these approaches includes potentially better patient outcomes, more efficient cancer treatment and faster drug development.

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SOURCE Mirati Therapeutics, Inc.