Brean Murray Initiates Coverage on Ariad Pharmaceuticals (ARIA) with a Hold; Strong Fundamentals, Cautious on Phase 3 Trial
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Brean Murray initiates coverage on Ariad Pharmaceuticals, Inc. (Nasdaq: ARIA) with a Hold rating.
Brean analyst says, "Ariad is a biotechnology company focusing on discovering and developing cell-signaling regulating small-molecule-based drugs for treating cancer. We believe the company has strong fundamentals with an impressive pipeline and powerful research capacity; however, we are cautious about the outcome of the ongoing pivotal Phase 3 trial evaluating its leading compound ridaforolimus in advanced sarcoma patients, with top-line data expected in 1H10. We do feel strongly that the company’s second compound, AP24534, has great potential to change the treatment paradigm in CML patients refractory to current available therapies and expect a clear and fast regulatory pathway to emerge in 2010. With increased volatility heading to the Phase 3 ridaforolimus data reporting, we believe that shares of Ariad will likely be range bound until critical binary events have passed."
To see more analyst ratings on ARIA Click Here.
ARIAD Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small-molecule drugs for the treatment of cancer in the United States and Europe.
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