Mirati’s lung cancer drug gets an accelerated approval

Shares of Mirati Therapeutics Inc. were up about 3% in premarket trading on Tuesday, the day after the company said it received an accelerated approval from the Food and Drug Administration for a treatment for some people with advanced or metastatic non-small cell lung cancer. The drug, Krazati, can be used in patients who have a KRAS mutation; Agilent Technologies Inc. and Qiagen both have FDA-approved companion diagnostics that can test for the mutation. Krazati has a list price of $19,750 for a 30-day supply of tablets, according to Mirati. The drug is set to compete with Amgen Inc.’s Lumakras. Mirati’s stock has declined 71.1% year-to-date, while the S&P 500 is down 16.2%.

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