Ariad Pharmaceuticals Inc fka ARIA

[DonShimoda]

But Don, this secondary will get Ariad to the middle of 2012, so they will have to partner, or dilute again then, BEFORE '534 scientific results.

I think we'll have a first look at the data for the T315I cohort well before then. In addition I would think any regional partnerships for 534 would come with up front $'s. Also, don't forget, if rida meets its primary endpoint, the milestone payments should be a significant source of funding in 2011.

As far as the timing of today's announcement goes I'm not sure what you think could have been done differently. I'm not trying to defend the ceo, just the decision. This isn't a PIPE with warrants...he's raising $'s at near the 52 week high. Unfortunately, dilution comes with the territory when investing in biotechs.