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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