San Diego-based Mirati Therapeutics Inc., a company developing medicines for targeted oncology, announced its third quarter financial results Nov. 6.
The company reported a net loss of $18.7 million, up from $8.6 million in the same quarter last year. Research and development expenses amounted to $14.6 million for the quarter, up from $6.9 million in the same period of 2014. Cash, cash equivalents, and short-term investments were $138 million at September 30, 2015, according to the report.
Mirati recently closed a successful public offering of its common stock, raising $94.9 million this September. The company said it will use the net proceeds for general corporate purposes, which may include clinical trials and other research and development expenses for its ongoing oncology clinical development programs.