Wall st. overeating in both directions. This company was trading at $3.50 around 3 years ago when Iclusig wasn't approved, and they had very little cash. Yes, their main drug was suspended, but they have nearly $2 in Cash and no debt. They have a fantastic team, and breakthrough science. There is an absolute floor at $2.20 . No piece of bad news can make this thing go lower. I mean, think about it. How much is this company worth to big pharma? It's gotta be worth at least $5 at the minimum. This is a one of a kind generational buying opportunity.
This is what will happen: They will provide both the good and the bad news in their release. The stock will be very volatile, but eventually investors who will no longer have the uncertainty factor to deal with, will finally start using common sense financial analysis to find a price. That price should be around $5
Why would it be worth anything? If it were it would have been purchased already. Ariad has no product to sell and even if the two indications are lifted all the other first line stuff is over forever for Iclusig. Iclusig will never be a first line treatment. You know tat, right? The Insiders knew that when they CASHED OUT! The institutions knew that when they CASHED OUT! It is the litteral definition of Insanity to expect any other outcome. Ariad has a single (unremarkable) candidate in the pipeline. That 350 mil is already spent even if the board weren't gonna hoarde it. Dude, give the Market Maker his money back for that silly OP.
Ponatinib As Initial Therapy For Patients With Chronic Myeloid Leukemia In Chronic Phase (CML-CP) ,
Conclusion of Dr. Cortes' presentation abstract ( published on 11/07/2013; to be presented at ASH on 12/07/2013): "Ponatinib is effective as initial therapy for CML-CP resulting in high rates of cytogenetic and molecular responses at early timepoints. Therapy with ponatinib is well tolerated with transient elevated lipase being the most common toxicity. In view of the frequency of dose reductions and considering the excellent responses achieved, the trial has been modified to explore 30 mg as initial dose."