Ariad Pharmaceuticals Inc fka ARIA

[HempsterBit]

ARIAD Reaffirms Commitment to Discovering and Developing Treatments for Patients with Rare Cancers

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today acknowledged the receipt of a Congressional letter and reaffirmed its commitment to discovering and developing treatments for patients with rare cancers with the following statement:

ARIAD is a small, research-driven biotechnology company. Its mission is the discovery, development and delivery of highly innovative treatments for patients with rare cancers, including those with no other treatment options available today. The Company applies its deep in-house expertise and makes significant investments in research and development (R&D) to advance breakthrough treatments for patients.

The Company recognizes the high cost of innovative oncology drugs and believes in the importance and efficacy of its products. Importantly, to achieve its mission, ARIAD has invested more than $1.3 billion in R&D and accumulated losses of approximately $1.4 billion since the Company was founded, which have not been recovered. In 2015, ARIAD generated $119 million in total revenue and invested $171 million, or 143% of revenue, in R&D. After years of risk-taking and research, the Company has brought its first product to market serving a very small and seriously ill group of cancer patients. ARIAD remains fully committed to developing critical therapies for unserved and underserved small patient populations suffering from rare cancers.

The Company has received a letter from Rep. Cummings and Sen. Sanders requesting information and plans to respond to their request.

Forward-Looking Statements:

This press release contains forward-looking statements. Any statements contained herein which do not describe historical facts, including, but not limited to, statements regarding: our mission, our planned investments in R&D, and our commitment to our patients, are forward-looking statements which are based on management's expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such statements. These factors, risks and uncertainties include, but are not limited to, our ability to successfully commercialize and generate profits from sales of our products; our ability to meet anticipated clinical trial commencement, enrollment and completion dates and regulatory filing dates for our products and product candidates and to move new development candidates into the clinic; our ability to execute on our key corporate initiatives; regulatory developments and safety issues, including difficulties or delays in obtaining regulatory and pricing and reimbursement approvals to market our products; competition from alternative therapies; our reliance on the performance of third-party manufacturers and specialty pharmacies or our collaborators for the supply and distribution of our products and product candidates; the occurrence of adverse safety events with our products and product candidates; the costs associated with our research, development, manufacturing, commercialization and other activities; the conduct, timing and results of preclinical and clinical studies of our products and product candidates, including that preclinical data and early-stage clinical data may not be replicated in later-stage clinical studies; the adequacy of our capital resources and the availability of additional funding; the ability to satisfy our contractual obligations, including under our leases, convertible debt and royalty financing agreements; patent protection and third-party intellectual property claims; litigation; our operations in foreign countries; risks related to key employees, markets, economic conditions, health care reform, prices and reimbursement rates; and other risk factors detailed in our public filings with the U.S. Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Except as otherwise noted, these forward-looking statements speak only as of the date of this press release and we undertake no obligation to update or revise any of these statements to reflect events or circumstances occurring after this press release. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.

About ARIAD:

ARIAD Pharmaceuticals, Inc., headquartered in Cambridge, Massachusetts is focused on discovering, developing and commercializing precision therapies for patients with rare cancers. ARIAD is working on new medicines to advance the treatment of rare forms of chronic and acute leukemia, lung cancer and other rare cancers. ARIAD utilizes computational and structural approaches to design small-molecule drugs that overcome resistance to existing cancer medicines. For additional information, visit http://www.ariad.com or follow ARIAD on Twitter (@ARIADPharm)


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ARIAD Pharmaceuticals, Inc.
For Investors:
Jennifer Robinson, 617-621-2286
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For Media:
Liza Heapes, 617-621-2315
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