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Biotech / Medical : ARIAD Pharmaceuticals
ARIA 23.990.0%Feb 17 4:00 PM EST
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From: BulbaMan11/3/2013 6:38:17 PM
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Luckily, I didn’t get caught in the ARIA collapse but certainly empathize with those biotechies who did. And, of course, it’s the cancer patients that are most gravely effected.
Although I don’t now have a financial stake in ARIA, here’s my two cents anyway. It seems the Sarissa factor will determine where the stock goes near-term.
Based on Sarissa’s 10/29 13D, they’re now sitting on a pretty big loss on the 11.5 million shares (6.22% of Ariad) they bought from 10/9/13-10/22/13. But we don’t know what they did since 10/22 and Ariad’s poison pill means they were restricted from buying shares after 10/31/13. So, IMHO, Sarissa’s next filings will be the key to where Ariad’s stock is heading. In particular, if Sarissa dumped shares following the FDA withdrawal of Iclusig that would be a very bearish sign. On the other hand, if Sarissa kept buying after the withdrawal that would certainly put a floor on Ariad’s stock price with a proxy battle likely in the near future.
Peace & good health,
Bulba
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