Markets unimpressed by Mirati leadership changes

2 November 2021

Investors appeared unimpressed by changes to the leadership team at US oncology specialist Mirati Therapeutics (Nasdaq: MRTX), where former Ipsen (Euronext: IPN) boss David Meek took over as chief executive in September of this year.

The San Diego-based company’s share price dropped by 14% on Monday, when the changes to the structure of the executive leadership team were announced.

Daniel Faga is to step down from his role as executive vice president and chief operating officer. Mirati will establish the role of chief financial officer to support the expansion of its commercialization capabilities and expanding portfolio, and has begun a search process.

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