Item 2.02 Results of Operations and Financial Condition.
On October 26, 2020, we filed with the Securities and Exchange Commission (the
"SEC") a preliminary prospectus supplement (the "Preliminary Prospectus")
pursuant to Rule 424(b) under the Securities Act of 1933, as amended, relating
to its Registration Statement on Form S-3ASR (File No. 333-227209) filed with
the SEC on September 6, 2018, in connection with a proposed public offering. In
the Preliminary Prospectus, Mirati disclosed that it had $579.1 million in cash,
cash equivalents and short-term investments as of September 30, 2020 and Mirati
incurred $100.1 million in total operating expenses for the three months ended
September 30, 2020. These amounts are preliminary and are subject to completion
of financial closing procedures. As a result, these amounts may differ from the
amounts that will be reflected in our consolidated financial statements as of
and for the nine months ended September 30, 2020.
Forward-Looking Statements
This report contains forward-looking statements within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. Any statements in this report
that are not historical facts may be considered "forward-looking statements,"
including, but not limited to, statements regarding Mirati's preliminary
unaudited cash, cash equivalents and short-term investments position as of
September 30, 2020 and preliminary unaudited operating expenses for the three
months ended September 30, 2020. Forward-looking statements are typically, but
not always, identified by the use of words such as "may," "would," "believe,"
"intend," "plan," "anticipate," "estimate," "expect," and other similar
terminology. Forward-looking statements are based on current expectations of
management and upon what management believes to be reasonable assumptions based
on information currently available to it, and are subject to risks and
uncertainties. Such risks and uncertainties may cause actual results to differ
materially from the expectations set forth in the forward-looking statements.
Such risks and uncertainties include, but are not limited to, risks related to
preliminary financial results, including the risks that the preliminary
financial results reported herein reflect information available to Mirati only
at this time and may differ from actual results, including in connection with
Mirati's completion of financial closing procedures, as well as other risks
detailed in our recent filings on Forms 10-K and 10-Q with the SEC. We undertake
no obligation to update any forward-looking statements to reflect new
information, events or circumstances, or to reflect the occurrence of
unanticipated events.
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