Ariad Pharmaceuticals Inc (NASDAQ:ARIA) plunges on new developments

by Tom Kelly | Thursday, May 16, 2013 | 968 views

Northern, WI 05/16/2013 (usastockreport) – Ariad Pharmaceuticals, Inc (NASDAQ:ARIA): In today’s trading session, Ariad Pharmaceuticals, Inc (NASDAQ:ARIA) continuing its down fall as it dropped by 6.02% after opening at $16.30 rose to touch an intraday high of $16.39 which eventually headed down to currently trade at $16.07 per share. Over 4.03 million shares exchanged hands in the current trading session till now. This volume is way above the average volume of 2.84 million which was measured over a 30-day period.

Shares of Ariad Pharmaceuticals, Inc (NASDAQ:ARIA) have plunged after news of a new cancer tool which allows patients to take a call on chemo therapy. According to researchers “What is happening is a combination of new technology and more-targeted cancer drugs,” said Dr Sandra Swain, medical director of the Cancer Institute at Washington Hospital Center and president of the American Society of Clinical Oncology (ASCO). “We’ve tried the approach of big, nonspecific treatments … We have found that throwing chemo at patients has not (necessarily) cured them.”

ARIAD is an international oncology company that focuses on discovering, developing and commercializing medicines that are used in treatments for cancer patients.

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