ARIA Stock – Ariad Shares Pop on Potential Buyout Rumors

Its stock plunged in October after a drug trial was stopped

   

A report that Ariad Pharmaceuticals Inc. (ARIA) has been approached by potential buyers sent ARIA stock up more than 8% in Thursday pre-market trading.

AriadAccording to the Daily Mail, Ariad has received “friendly approaches” from a minimum of three major pharmaceutical makers. Interested parties are said to include Eli Lilly (LLY), GlaxoSmith Kline (GSK) and Shire (SHPG).

JNJ Stock – Johnson & Johnson Beats Profit Estimates on Strong Drug Sales
JNJ Stock – Johnson & Johnson Beats Profit Estimates on Strong Drug Sales

ARIA stock had traded over $20 a share in September, but ARIA stock plunged in October after the U.S. Food and Drug Administration halted a trial of its anti-cancer treatment, Iclusig, after some patients developed blood clots.

The buyers are reportedly willing to pay as much as $20 a share for ARIA stock. On Wednesday, ARIA stock closed at $6.71 a share.

In December, Ariad announced that the FDA would allow Inclusig to return to the market under new marketing restrictions, sending ARIA stock somewhat higher.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/aria-stock-ariad-shares-pop-potential-buyout-rumors/.

©2016 InvestorPlace Media, LLC

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