Balanced News: Mirati Therapeutics gets a Breakthrough designation for its colorectal cancer drug

Shares of Mirati Therapeutics Inc. MRTX, +0.10% jumped 6.0% in premarket trading on Thursday after the company said the Food and Drug Administration granted a breakthrough therapy designation to Krazati as a treatment for colorectal cancer. The drug is already approved to treat certain kinds of non-small cell lung cancer. Mirati’s stock has tumbled 71.8% so far this year, while the broader S&P 500 SPX, +1.49% is down 18.6%.