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

To: amic who wrote (1209)	6/6/2000 5:44:00 PM
From: JK	Read Replies (2) \| Respond to of 4474

Bad news for longs: Ariad Pharmaceuticals Inc. (NasdaqNM:ARIA - news) said on Tuesday it has filed a shelf registration statement with the Securities and Exchange Commission for a proposed common stock offering of 3.5 million shares. Once registered, these shares will be available for sale by the company when it believes that market conditions are favourable and investment opportunities arise. Lehman Brothers Inc. is acting as financial advisor to Ariad. ``We currently have approximately $34 million to fund planned operations which will allow us to achieve our product development goals,'' Chairman and Chief Executive Harvey Berger said in a statement. ``Having additional funds available at the appropriate time in the future could accelerate clinical development and regulatory approval of our regulated gene therapy products and acquisition of products, vectors, and therapeutic genes to augment our lead programmes