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Ariad says close to cancer drug partnership deal
BOSTON, Feb 15 (Reuters) - Ariad Pharmaceuticals Inc. (ARIA.O) said on Thursday it expects to complete a partnership agreement with a pharmaceutical company by early in the second quarter to develop and commercialize its experimental cancer drug in a broad range of indications.
The Cambridge, Massachusetts-based biotechnology company said is negotiating with a number of pharmaceutical companies for a partnership for the drug, AP23573.
It also said it has secured an equity financing commitment from Azimuth Opportunity Ltd. for up to $50 million.
The company posted a fourth-quarter net loss of $14.4 million, or 22 cents a share, compared with a net loss of $14.5 million, or 23 cents a share, a year ago.
((Reporting by Toni Clarke, editing by John Wallace; Reuters Messaging, toni.clarke.reuters.com@reuters.net, 617-367-4106)) Keywords: ARIAD/
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