In today’s briefing:
- Mirati Therapeutics Inc.: Expansion of KRAZATI
- Upstream Bio Valuation Summary, DCF Analysis Suggests U.S. Business (Ex. COPD) Is Worth ~$1.8B
Mirati Therapeutics Inc.: Expansion of KRAZATI
- Mirati Therapeutics reported its second quarter 2023 earnings and had a decent performance.
- During this period, Mirati launched KRAZATI, reflecting a significant milestone as it transitioned to a commercial-stage company under the guidance of then CEO, David Meek.
- However, in a noteworthy change announced during the call, Dr. Chuck Baum has taken on the role of interim CEO, following Meek’s departure.
Upstream Bio Valuation Summary, DCF Analysis Suggests U.S. Business (Ex. COPD) Is Worth ~$1.8B
- Upstream Bio, a biotech company focused on developing therapeutics that address severe asthma, CRSwNP and COPD, will price its IPO in October.
- Upstream Bio has raised ~$400M to date. Their last round was a $200M Series B led by private equity firm Enavate Sciences and Venrock Healthcare Capital Partners.
- My DCF analysis suggests that Upstream Bio’s core U.S. business (ex. COPD) may be worth ~$1.8B. The severe asthma and CRSwNP markets represent a potential $10B+ opportunity.
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