Boston, MA 06/02/2014 (wallstreetpr) – The cancer drug company Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) has had its fair share of disappointments with its approved leukemia drug, Iclusig. From market suspension to halting of the study of the drug in newly-diagnosed patients, Ariad has seen it all but the company looks unbowed.
At the weekend, Ariad released two trial results of Iclusig in newly-diagnosed leukemia patients. The results confirmed the widely-held understanding in the company that Iclusig can be helpful for new leukemia patients.
Iclusig is a leukemia treatment, but its approval limits it to use only on patients who have tried other treatments and failed. The drug was approved for commercialization December 2012. The U.S. Food and Drug Administration (FDA) halted the trial of the drug in new leukemia. The order stopping the study of Iclusig on newly-diagnosed patients came when Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) had already started the study.
The latest results are, therefore, from the discontinued trials. Contrary to the FDA fears about Iclusig in new patients, the two trial results reveal that the drug is as success in newly-diagnosed patients as it is in patients who have already tried other drugs and failed.
The new study results were released over the weekend in Chicago during the American Society of Clinical Oncology annual meeting.
Seeking approval
According to the newly unveiled Iclusig data, the drug seems to be more effective than Novartis AG (ADR) (NYSE:NVS)’s Gleevec that was approved for the same treatment in 2001. Last December, an official with Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) indicated that the company might seek approval of Iclusig in new patients if the data supported that idea.
Now that the data strongly support the idea, Ariad has a better reason to talk to FDA about expanding the treatment mandate of Iclusig.
More revenue
Expanding the treatment mandate of Iclusig means more revenue for Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA). However, winning the approval of FDA to allow the use of Iclusig in new patients will be the hardest job for Ariad. The company has had push-and-pull sessions with FDA where at some point Iclusig was withdrawn from the market over claims that it had higher incidents of blood clotting.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) generated sales of $11.80 million in 1Q2014, beating the consensus estimate of $11.41 for the quarter. Revenue was up nearly 82 percent over the same quarter a year earlier.
