Shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) ended Friday session in red amid volatile trading. The shares closed down -0.23 points or -2.21% at $10.18 with 4.78 million shares getting traded. Post opening the session at $10.27, the shares hit an intraday low of $10.11 and an intraday high of $10.48 and the price vacillated in this range throughout the day. The company has a market cap of $1.92 billion and the numbers of outstanding shares have been calculated to be 182.71 million shares.
Ariad Pharmaceuticals, Inc. (ARIA) announced that it will present at the Morgan Stanley Global Healthcare Conference being held in New York City. Paris Panayiotopoulos, president and chief executive officer, will provide an overview of the Company’s business on Monday, September 12, 2016 at 2:50 p.m. (ET).
The ARIAD presentation will be webcast live and can be accessed by visiting the investor relations section of the Company’s website at http://www.ariad.com/investor. A replay of the presentation will also be available and archived on the site for three weeks.
Shares of Clovis Oncology Inc (NASDAQ:CLVS) ended Friday session in red amid volatile trading. The shares closed down –0.36 points or -1.29% at $27.65 with 4.63 million shares getting traded. Post opening the session at $27.29, the shares hit an intraday low of $26.37 and an intraday high of $28.40 and the price vacillated in this range throughout the day. The company has a market cap of $1.05 billion and the numbers of outstanding shares have been calculated to be 38.50 million shares.
Clovis Oncology Inc (CLVS) on August 23, 2016 announced that the U.S. Food and Drug Administration (FDA) has accepted Clovis’ New Drug Application (NDA) for accelerated approval of rucaparib and granted priority review status to the application with a Prescription Drug User Fee Act (PDUFA) date of February 23, 2017. In late June 2016, Clovis completed its NDA submission of rucaparib to the FDA for the treatment of advanced ovarian cancer in patients with deleterious BRCA-mutated tumors inclusive of both germline and somatic BRCA mutations (as detected by an FDA-approved test), and who have been treated with two or more chemotherapies. Rucaparib was granted Breakthrough Therapy Designation for the proposed indication by the FDA in April 2015.
“The acceptance of the rucaparib NDA submission represents an important milestone for rucaparib, and for Clovis,” said Patrick J. Mahaffy, President and CEO of Clovis Oncology. “There is tremendous need for additional therapeutic options for patients with advanced mutant BRCA ovarian cancer and we look forward to cooperating with FDA on the rucaparib NDA review.”
“Recurrent ovarian cancer remains a very difficult disease to treat, even among women who carry, or whose tumors have a mutation in the BRCA genes. Despite the available treatment options, few effective therapies are at our disposal. Thus, the opportunity to treat women with germline or somatic BRCA mutations with rucaparib after two prior lines of platinum-based therapy, represents a meaningful step forward for our patients,” said Robert L. Coleman, MD, Professor & Deputy Chairman, Vice Chair, Clinical Research, Ann Rife Cox Chair in Gynecology, Department of Gynecologic Oncology and Reproductive Medicine at University of Texas MD Anderson Cancer Center in Houston and one of the Principal Investigators in the ARIEL clinical trial program.