Mirati Therapeutics, Inc. MRTX announced positive data from a cohort of the phase I/II KRYSTAL–1 study evaluating its leading KRAS inhibitor adagrasib in patients with heavily pretreated colorectal cancer (“CRC”).The cohort from the study evaluated adagrasib (600mg BID) in two arms, as a monotherapy and in a combination with Eli Lilly’s LLY Erbitux (cetuximab). In both arms of the study, adagrasib achieved significant clinical activity and broad disease control in patients with KRAS G12C-Mutated CRC.In the year so far, Mirati’s stock price has plunged 20.7% against the industry’s 0.9% rise.Image Source: Zacks Investment ResearchIn the monotherapy arm, the investigator-assessed response rate (“RR”) was 22% and disease control rate (“DCR”) was 87% (as of May 25, 2021). In the combination arm, the investigator-assessed RR was 43% and DCR was 100% (as of Jul 9, 2021).Data from the KRYSTAL–1 study also demonstrated that the therapy was well tolerated among the participants in both arms of the cohort. The data were presented at the European Society for Medical Oncology Congress (ESMO) 2021.Mirati has completed enrolment in a phase II potentially registration-enabling monotherapy cohort of adagrasib for treating patients with at least second-line non-small cell lung cancer (“NSCLC”) with KRAS G12C mutation. Mirati anticipates filing a new drug application for the accelerated approval of adagrasib in fourth-quarter 2021 to treat the given indication.Enrolment is also ongoing in other key cohorts of the above study, which is evaluating adagrasib plus Merck’s MRK Keytruda for first-line NSCLC and adagrasib plus Erbitux for second-line CRC.Mirati is also conducting the phase III KRYSTAL-10 study, which is evaluating adagrasib plus Erbitux with a standard of care chemotherapy in patients with second-line CRC.Please note that tumors characterized by KRAS mutations are commonly associated with poor prognosis and resistance to therapy. KRAS mutations are extremely difficult to directly inhibit. Adagrasib is designed to directly inhibit KRAS G12C mutations and if approved, it can open a market with significant unmet needs.Amgen’s AMGN Lumakras, a KRAS inhibitor, is also being evaluated in a phase II monotherapy study in advanced CRC patients. In May 2021, Lumakras became the first KRAS inhibitor to be approved in the United States for treating KRAS G12C-mutated locally advanced or metastatic NSCLC.Mirati Therapeutics, Inc. Price Mirati Therapeutics, Inc. price | Mirati Therapeutics, Inc. QuoteZacks RankMirati currently carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Merck & Co., Inc. (MRK): Free Stock Analysis Report Eli Lilly and Company (LLY): Free Stock Analysis Report Amgen Inc. (AMGN): Free Stock Analysis Report Mirati Therapeutics, Inc. (MRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research