Short at­tack tar­gets one of the fa­vorites now shar­ing the lead in the pop­u­lar KRAS drug de­vel­op­ment race

Sahm Ad­ran­gi’s short-at­tack team at Ker­ris­dale is out to slam one of the most pop­u­lar biotech plays in the book this morn­ing.

The tar­get is Mi­rati $MRTX, which has swift­ly built a multi­bil­lion-dol­lar val­u­a­tion around the idea that it can ri­val Am­gen in an his­toric race to the mar­ket with the first KRAS G12C drug in non-small cell lung can­cer.

Ac­tu­al­ly, Ad­ran­gi and his crew don’t much care for ei­ther Mi­rati’s MRTX-849 or Am­gen’s AMG510. But Mi­rati is close to a pure-play KRAS propo­si­tion now, mak­ing the stock vul­ner­a­ble to the kind of bear­ish maul­ing that Ker­ris­dale likes to in­flict on its sub­jects.

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