by Christopher Freeburn | January 23, 2014 9:34 am
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.
According 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).
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.
Source URL: http://investorplace.com/2014/01/aria-stock-ariad-shares-pop-potential-buyout-rumors/
Short URL: http://invstplc.com/1nvQfVU
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.