PREMARKET ALERT: Ariad Pharmaceuticals (ARIA)

Posted in General 
July 30th, 2009

Ariad Pharmaceuticals Inc. (Nasdaq: ARIA) continue to climb very strongly for a third-consecutive premarket session, on optimism for its AP24534 compound to treat chronic myelogenous leukemia in patients that were resistant to other drugs. While it is still not in late-stage trials, optimism remains that the company may be able to get it there in the next year-and-a-half, effectively doubling its pipeline. Shares are up 11 percent to $2.63 with more than 81,000 changing hands as of 8:30 a.m. Eastern. — Mike Tarsala

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