Key Developments: ARIAD Pharmaceuticals Inc (ARIA.O)

ARIA.O on Nasdaq

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15 Apr 2014
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Latest Key Developments (Source: Significant Developments)

ARIAD Pharmaceuticals, Inc announces initiation of pivotal phase 2 ALTA trial of AP26113 in patients with non-small cell lung cancer
Monday, 24 Mar 2014 07:35am EDT 

ARIAD Pharmaceuticals, Inc:Initiation of pivotal global Phase 2 trial of AP26113 in patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) who were previously treated with crizotinib.ALTA ( A LK in L ung Cancer T rial of A P26113) trial is designed to determine safety and efficacy of AP26113 in refractory NSCLC patients who test positive for anaplastic lymphoma kinase (ALK+) oncogene.  Full Article

Faruqi & Faruqi, LLP files class action lawsuit against ARIAD Pharmaceuticals Inc
Friday, 6 Dec 2013 11:00pm EST 

Faruqi & Faruqi, LLP:Says that it has filed a class action lawsuit in the United States District Court for the District of Massachusetts on behalf of investors who purchased or otherwise acquired ARIAD Pharmaceuticals Inc securities between Dec. 12, 2011 and Oct. 17, 2013, inclusive and suffered damages as a result.Says that complaint alleges that defendants knew or recklessly failed to inform investors that the clinical data from the pivotal Phase 2 PACE trial of ARIAD's leukemia drug Iclusig demonstrated significant cardiovascular side effects in patients treated with the drug.Says such as arterial thrombotic events and strokes, before and during the class period.Says as a result, defendants' statements regarding the safety, outlook, and commercial prospects for Iclusig were materially false and misleading at all relevant times.  Full Article

Levi & Korsinsky, LLP Announces class action against Ariad Pharmaceuticals Inc
Thursday, 5 Dec 2013 06:00pm EST 

Levi & Korsinsky, LLP:Says class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased ARIAD Pharmaceuticals, Inc. stock between Dec. 12, 2011 and Oct. 8.Says complaint alleges that throughout the Class Period defendants made false and misleading statements regarding the safety and efficacy of the leukemia drug Iclusig.  Full Article

Levi & Korsinsky, LLP Announces Class Action Against ARIAD Pharmaceuticals, Inc
Monday, 2 Dec 2013 04:20pm EST 

Ariad Pharmaceuticals Inc:Says that Levi & Korsinsky announced class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased ARIAD Pharmaceuticals, Inc sttck between Dec. 12, 2011 and Oct. 8, 2013.Says the Complaint alleges that throughout the Class Period defendants made false and misleading.  Full Article

Johnson & Weaver, LLP Files Derivative Lawsuit On Behalf Of ARIAD Pharmaceuticals, Inc
Tuesday, 12 Nov 2013 09:29am EST 

Johnson & Weaver, LLP announced that it has filed a derivative lawsuit seeking to hold certain officers and directors of ARIAD Pharmaceuticals, Inc responsible for the damage they caused the Company to suffer. Specifically, the complaint alleges that these individuals breached their fiduciary duties and violated other laws related to their representations about the safety and commercial viability of ARIAD`s leukemia drug Iclusig. As a result, ARIAD`s credibility and goodwill have been damaged, ARIAD's market capitalization has been substantially damaged, and ARIAD is now the subject of a securities fraud class action and will likely incur substantial costs in investigating and litigating that action. On October 9, 2013, ARIAD published data from an ongoing clinical trial for Iclusig and announced that patient enrollment in all then-ongoing clinical studies of Iclusig was being paused. Then, on October 11, 2013, the U.S. Food and Drug Administration published a "Safety Announcement," entitled "FDA Drug Safety Communication: FDA investigating leukemia drug Iclusig (ponatinib) after increased reports of serious blood clots in arteries and veins."  Full Article

Pomerantz Law Firm Files Class Action Against Ariad Pharmaceuticals Inc and Certain Officers
Friday, 8 Nov 2013 04:57pm EST 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against Ariad Pharmaceuticals Inc (ARIAD or the Company) and certain of its officers. The class action, filed in United States District Court, District of Massachusetts, and docketed under 13-cv-12544, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of ARIAD between December 12, 2011 and October 8, 2013 both dates inclusive (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, Defendants represented that the Company's leukemia drug Iclusig (ponatinib), based on its clinical data from its pivotal PACE trial of Iclusig, was safe and effective, without serious adverse events such as serious arterial thrombotic and cardiovascular events.  Full Article

Ariad Pharmaceuticals Inc Announces Reduction in U.S. Workforce as Part of Broad Program to Reduce Operating Expenses
Thursday, 7 Nov 2013 04:05pm EST 

Ariad Pharmaceuticals Inc announced that it is reducing approximately 40% of its staff positions in the United States following its decision to temporarily suspend the marketing and commercial distribution of Iclusig (ponatinib) in the U.S. The reduction in U.S. staff includes positions in all major departments. This reduction in force is part of a broad program taken by ARIAD to significantly reduce its corporate operating expenses and extend its cash position. ARIAD will share details of this program when it reports third quarter financial results on November 12, 2012. ARIAD expects the workforce reduction to be completed by year-end and will yield pre-tax savings of approximately $26 million in 2014. Restructuring charges associated with these changes are expected to be approximately $5 million in the fourth quarter of 2013. There are no reductions in staff positions in Europe. Following the workforce reduction, ARIAD expects to have approximately 295 employees in the U.S. and Europe.  Full Article

Ariad Pharmaceuticals Inc Suspends Sales Of Blood Cancer Drug - Reuters
Thursday, 31 Oct 2013 11:19am EDT 

Reuters reported that Ariad Pharmaceuticals Inc will suspend sales of its blood cancer drug Iclusig. The Company's shares fell sharply on October 31, 2013. Ariad, on a conference call, said there was a possibility that the U.S. Food and Drug Administration might ask for new trials for the drug that won an accelerated approval last December. Iclusig was approved to treat two rare blood cancers, a type of chronic myeloid leukemia and a version of acute lymphoblastic leukemia. An accelerated approval is granted based on promising data from early trials. The process still requires further studies to prove the drug is as effective as initially thought. But the FDA earlier this month placed a partial hold on Iclusig's late-stage trial after a number of patients taking the drug experienced blood clots and heart damage. The Company later discontinued the trial.  Full Article

Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Ariad Pharmaceuticals Inc
Saturday, 19 Oct 2013 11:51am EDT 

Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class (the Class) comprising all purchasers of the securities of ARIAD Pharmaceuticals, Inc. (ARIAD or the Company) between December 12, 2011 and October 8, 2013, inclusive (the Class Period).  Full Article

Law Offices Of Howard G. Smith Announces Class Action Lawsuit Against Ariad Pharmaceuticals Inc
Friday, 18 Oct 2013 09:32pm EDT 

Law Offices of Howard G. Smith announced that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class comprising all purchasers of the securities of ARIAD Pharmaceuticals, Inc. between December 12, 2011 and October 8, 2013, inclusive (the Class Period). On October 9, 2013, the Company announced that the U.S. Food and Drug Administration placed a partial clinical hold on all new patient enrollment in clinical trials of Iclusig, following reports of non-serious and serious adverse events in Iclusig-treated patients. Following this news, the price of ARIAD shares dropped nearly 66%, or $11.31 per share, from the previous day's closing price of $17.14 per share, to a closing price of $5.83 per share on October 9, 2013, on extremely heavy volume.  Full Article

Ariad to add activist investor Alex Denner to board

- Ariad Pharmaceuticals Inc, which has been struggling with safety concerns involving its only approved drug, said it agreed to add two directors backed by its second-largest investor Sarissa Capital Management to its board.

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