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Biotech / Medical : ARIAD Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: Dr. John M. de Castro who wrote (773)	12/5/1999 11:52:00 AM
From: Mike McFarland	Read Replies (1) \| Respond to of 4474

< This suggests that Ariad will incur $6MM in increased expenses over the next year to fund this program.> If shareholder's wanted to draft a joint letter to ask this list of questions, I nominate you to do the job. I do not see the point of 6M in extra expenses...the number could be anything, the whole nature of that program changes. Here are the scraps we have been given: upon closing of the sale ARIAD will receive $40 million in cash; return of approximately three million shares of ARIAD series B convertible preferred stock; forgiveness of approximately $2 million long-term debt held by Hoechst Marion Roussel; and rights to compounds and related technologies resulting from a collaboration on the development of Src tyrosine kinase inhibitors. Hoechst Marion Roussel will receive certain payments related to approval and commercial sale of Src inhibitors. and This transaction with Hoechst Marion Roussel is the first step in redefining our business. This restructuring of our relationship with HMR will allow ARIAD to focus on near-term development programs and its own products with the goal of bringing one of our proprietary osteoporosis drug candidates to the clinic as soon as possible," said Harvey J. Berger, M.D., chairman and CEO of ARIAD. I could not get any hits on AP22408, so maybe it's another. That is as far as my homework ever went...maybe you have dug deeper--into other documents--do you have access to everything at rcap?