Boston, MA 01/03/2014 (wallstreetpr) – U.S-based oncology and medicinal research company Ariad Pharmaceuticals, Inc. (NYSE:ARIA) is seeing a refreshing uptrend with its stocks, which have climbed a decent 46% in just the last month. The steady rise in share value is largely triggered by the December decision by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) under heavy pressure to temporarily revoke their earlier stay and allow sales and administration of Ariad’s key leukaemia drug Iclusig for critical leukaemia conditions. Stocks lifted immediately on NASDAQ after the FDA conceded to heavy dissent and overwhelming pressure from various patient care groups and medical fraternities over leukaemia patient care.
FDA succumbs to medical fraternities
Only in October 2013, Ariad Pharmaceuticals, Inc. (NYSE:ARIA)’s stocks tumbled disastrously by over 60% in just a day, due to the FDA ordering a temporary halt on Ariad’s key drug Iclusig’s sales. The stay by FDA, which left investors reeling under the impending stock crash, was due to undesired and life-threatening medical symptoms welling up in various leukaemia cases. However, the non-availability of the drug eventually forced the FDA to succumb to the growing conflict and permit sales and drug administration of the Iclusig medication under controlled conditions and newly evaluated risk mitigation plans.
Stock recovery on the cards
The stocks’ recovery is certainly good relief for investors of the Massachusetts-based firm specializing in medicinal research & development, as well as the manufacture and commercial sales of medication for cancer and leukaemia. In reality, Ariad Pharmaceuticals, Inc. (NYSE:ARIA)’s stocks have plummeted over 60% from around the $19 mark over the past 90 days, and consequently, have a long and arduous journey to climb. This could be particularly difficult, with the disappointing recent third quarter and more recent and important interim drop in sales revenue. Nevertheless, Ariad stocks have shown good resilience on their traded exchange NASDAQ. Ariad Pharmaceuticals, Inc. (NYSE:ARIA)’s shares went up by 6% in their January 2 trading on NASDAQ, closing at $7.26 from their previous $6.82, which surged a bit further to $7.29 during the after-hours trade.
