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MRTX stock alert: What to know as Mirati Therapeutics eyes potential takeover


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Therapeutic Mirati (NASDAQ:MRTX) The stock is a hot topic on Wednesday as the cancer drugmaker considers a potential takeover.

According to inside sources, several major pharmaceutical companies are showing interest in acquiring Mirati Therapeutics. This comes at a time when the oncology company is considering its strategic alternatives, such as a sale.

Inside sources claim that there are currently no official offers for the company. Even so, Mirati Therapeutics has hired an advisor to help navigate any potential takeover offers that arise.

A recovery could be mutually beneficial for both companies. It would provide Mirati Therapeutics with the necessary funding to continue its research. At the same time, major pharmaceutical companies could expand their offerings in the cancer drug market.

MRTX Wednesday Stock Movement

Investors are reacting well to the prospect of a Mirati Therapeutics takeover with strong trading volume today. As of this writing, over 950,000 MRTX shares have changed hands. This has already exceeded the company’s average daily trading volume of approximately 928,000 shares.

MRTX stock is up 5% since Wednesday morning. However, shares of the cancer treatment company are still down 40.3% year-to-date.

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As of the date of publication, William White had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.

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