Todays Boston Globe page A7, great article ( here synopsis )
I own no Aria stock but the company is talked about in the Boston area were I live and after its large drop it made lots of local news so I started following it.
Todays Boston Globe page A7 has a great article pro Iclusig and how it has kept many people alive and that people on it now should stay on it at a cost of $115,000 per year. They interviewed some people and they all said they would not be here if it wasn't for this drug. The drug works!!!
The main point of the article is there was a letter writing campaign by both patients and some of the most important cancer dr's including the head of Dana Farber Cancer Hosptial (one if not the best in the world )to try to persuade the FDA to allow the drug to still be sold and also use it with labelling change.
I will look for an electronic copy of the article and post it or you may try Googling.
I will be buying a starter position , when patients say the drug works and there is really nothing else there will be pressure on the fda to come up with a deal and make the drug available.
The risk reward is very good 300 to 400 up side vs 50% downside.
Ariad Pharmaceuticals (Nasdaq: ARIA) is trading strong Monday following reports that patient groups are pushing to sales of the company's leukemia drug to continue.
The Boston Globe said today that the groups were writing letters and calling regulators ensuring that those on Iclusig would be able to continue the treatment amid the U.S. FDA looking into labeling of the product for its toxic side effects.
Sales of Iclusig were stopped on October 31st this year.
Following the stoppage, 23 blood cancer specialists nationwide signed a letter to FDA oncology chief Richard Pazdur on November 1st, encouraging the agency to speed-up the process which would allow those already on Iclusig to keep receiving it. The petition worked and a new program was implemented within three days.
The balance of the Boston Globe article can be read here, though it is a subscription service.
Shares of Ariad are up about 16.5 percent on heavy volume.