ARIAD Pharma (ARIA) Posts Q2 Loss of 30c/Share

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Chardan Affirms ARIAD (ARIA) at 'Buy'; Narrower Label Impacts Iclusig Usage

August 7, 2014 10:26 AM EDT

Chardan Capital affirms ARIAD Pharma (Nasdaq: ARIA) at Buy with a $9 price target following Q2 results.

ARIAD posted Q2 revs of $12.1 million and loss of $0.30 per share, with Chardan at revs of $11.6 million and loss of $0.30 per share.

Analyst Ling Wang noted the following key points from the quarter:Iclusig is being used in later lines of patients impacted by a narrower label. Through 2Q14, ~550 patients in the U.S. received Iclusig in the commercial setting (with a weekly penetration of over 50%)... More