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Ariad Pharmaceuticals Shares Drawing Attention After FDA Status

Ariad-PharmaceuticalsTrading for Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA) is up 9.37% to $5.78 per share, compared to yesterday’s market closing at $5.28 thanks to receiving “breakthrough therapy” status from the US Food and Drug Administration (FDA). The 52-week range is between $2.15 and $19.18.

Ariad’s experimental drug for treating lung cancer is getting a lot of attention within the medical community and from investors. With this new FDA status, development and review periods for the drug will be hastened. Ariad confirms there is evidence that AP26113 provides improvement over existing treatment for patients who suffer from serious and even life-threatening diseases.

The designation was based on prior results that showed AP26113 helps fight lung cancer in patients who had little to no response to an already FDA approved drug by Pfizer, Inc. (NYSE: PFE) called Crizotinib.

Before receiving “breakthrough therapy” status, Ariad experienced a significant decline in stock last October with shares down 11% but now, the value of shares is steadily climbing.

Ariad Pharmaceuticals, Inc. is an oncology company with worldwide recognition for discovery, development, and commercialization of medicines developed specifically for cancer patients. Iclusig, Ariad’s first medicine, has approval in the US for patients who are resistant or intolerant to tyrosine kinase inhibitor (TKI) treatment used for chronic or blast phase chronic myeloid leukemia or Philadelphia chromosome-positive acute lymphoblastic leukemia.

In a statement released by Dr. Harvey J. Berger, chairman and Chief Executive Officer of Ariad, the company is pleased with the FDA’s decision and encouraged by the clinical data on AP26113 presented recently at the European Cancer Congress, specifically for patients with tumors that have spread to the brain.

He added that Ariad is focused on accelerating patient enrollment in the ongoing ALTA trial and planning a cutting edge trial of the drug in patients naïve about treatment. Ariad has been studying AP26113 since January of 2013, which works as a molecularly targeted type medicine for certain forms of lung cancer.

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