MicroStockProfit.com: ARIA reports net loss of $23.4M for three months ended March 31, 2010

Jun 8 2010

MicroStockProfit.com announces an investment report featuring ARIAD Pharmaceuticals Inc. (Nasdaq:ARIA). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.

The full report is available at: www.microstockprofit.com/lp/ARIA

ARIAD Pharmaceuticals Inc. (ARIA) is a biopharmaceutical company focused on the discovery and development of drugs to provide therapeutic intervention in treating human diseases at the cellular level. The Company's lead cancer product candidate, ridaforolimus, is an internally discovered, potent inhibitor of the protein mTOR. mTOR acts as a central regulator of protein synthesis, cell proliferation, cell cycle progression and cell survival. Its second product candidate, AP24534, is an investigational, pan BCR-ABL inhibitor that has potential applications in various hematological cancers and solid tumors and is wholly owned by the Company. Its third product candidate, AP26113, is an investigational anaplastic lymphoma kinase (ALK), inhibitor that has the potential to regulate multiple cancer pathways and to be used in the treatment of certain patients with various cancers, including non-small cell lung cancer, lymphoma and neuroblastoma.

Message Board Search for ARIA: http://www.boardcentral.com/boards/ARIA

In the report, the analyst notes:

"For the three months ended March 31, 2010, the Company reported a net loss of $23.4 million, or $0.21 per share, compared to a net loss of $20.2 million, or $0.26 per share, for the corresponding period in 2009. This net loss in 2010 includes a $6.1 million non-cash charge related to the revaluation of the Company's warrant liability as compared to a charge of $215,000 in the corresponding period in 2009.  

"ARIA recently announced updated clinical data from an ongoing phase 1 study of its investigational pan-BCR-ABL inhibitor, AP24534, in patients with resistant and refractory chronic myeloid leukemia (CML). The data confirm strong clinical evidence of hematologic, cytogenetic and molecular anti-leukemia activity of AP24534, a multi-targeted kinase inhibitor, in heavily pretreated patients with CML, including those with the T315I mutation of the target protein, BCR-ABL."