Hedge Fund Pick Mirati Rallies to Record After Drug Results

(Bloomberg) — Mirati Therapeutics Inc., one of the most talked-about names in biotech and a frequenter of Wall Street’s M&A shopping lists, surged to a record on Monday after drug-trial results set a higher bar against a competitor drug from biotech behemoth Amgen Inc. The experimental drug, known as adagrasib, or MRTX849, produced responses in 45% of lung cancer patients in early stages of study. That’s better than some of the results from…