real-time news and commentary for investors
Friday, Sep 13
Ariad falls as Oppenheimer, others raise questions
- Ariad Pharmaceuticals (ARIA -3.3%) trades notably lower after the company said Thursday it will present data from a Phase 1/2 trial of AP26113 at the European Cancer Congress on September 28. (PR)
- For his part, Oppenheimer's David Ferreiro thinks positive results are factored into the stock's price. If the data fails to impress, Ferreiro thinks the shares could fall 10%.
- Not helping the cause Friday is TheStreet's Adam Feuerstein, who says Iclusig TRx script growth (available here) "is flattening out while NRx scripts are trending down suggesting ARIA has saturated the T3151 CML patient population."
- Feuerstein says institutional investors who are short the stock don't like Iclusig's chances of becoming the go-to front line treatment for CML. In other words: Don't look for Iclusig to outperform Novartis' (NVS +0.2%) Gleevec in EPIC.