Based on positive results from it successful Phase III trial for its cander drug "Ridaforolimus," shares of Ariad (Nasdaq:ARIA) has soared over 30 percent in mid-day trading.
Ridaforolimus is being developed to treat cancerous tumor of bone of soft tissue.
Ariad's partner in developing the new drug is Merck & Co. (NYSE:MRK)
Ariad was trading at $6.88, gaining $1.64, or 31.14 percent, a of 1:31 PM EST.
Tuesday, January 18, 2011
Ariad (Nasdaq:ARIA) Shares Explode Upward on Positive Phase III
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