Advertisement
News
Advertisement

ARIAD reports positive test results, plans stock offering

Tue, 10/26/2010 - 6:34am
Mass High Tech: The Journal of New England Technology

ARIAD Pharmaceuticals Inc. has announced a stock offering to help fund tests on a treatment for chronic myeloid leukemia, while also reporting that a Phase 2 study of its treatment for endometrial cancer showed significant improvements in progression-free survival.

Cambridge-based ARIAD (Nasdaq:ARIA) said it is offering 16 million shares of its common stock at $3.70 per share in an underwritten public offering. The funding is intended to enable ARIAD to complete patient enrollment in the Phase 2 PACE trial of oral ponatinib, ARIAD’s investigational pan BCR-ABL inhibitor. The goal is to obtain at least six-months of follow-up data; to complete analysis of the trial; and to prepare filings for marketing authorization of ponatinib. That drug is targeted for use in multiple lines of treatment for chronic myeloid leukemia (CML) and other cancers.

SOURCE

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading